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If you have kids or a family, a full-time job, or if you’re a little bit younger with full-time school responsibilities, there are other part-time business options that are fairly easy to start up.
With technology that has made forex trading available to all in Australia, the threshold for starting a part-time Forex trading business has become much lower. But what is part-time trading and what it is not?
If you have an income coming from other sources than trading, then you can consider yourself a part-time trader. It’s not accurate to claim you’re a full-time trader when you have many sources of income because this completely changes the emotion and mindset of the person behind the wheel.
When you have other sources of income, it means that some of your time it’s going to be devoted to running those businesses.
So, if you have a 9-to-5 job or running any other business, it means you’re making income from other activities, and in this case, you’re a part-time trader.
So, what are the advantages of being a part-time trader?
Part-time Trading gives you Flexibility
As a part-time trader, you can have the flexibility to be anywhere in the world and not commit to an office and you can trade during those hours that fit your own time schedule.
There is no surprise that time after time, companies are doing research and recognizing that flexibility at work provides for a better balance in life and happiness.
So it is not too much of a stretch to see that Forex trading as a small-business idea gives you the chance to create your own work-life balance and still make money in the markets. This is as long as you have a trading strategy that you know you can rely on and that you know works in this part-time setup.
Part-time Trading will teach you the art of Discipline
Part-time trading can teach you the art of time discipline. If you struggle with discipline in some areas of your life, then part-time trading can help you achieve a sustainable level of self-discipline.
Providing a structure, and a sense of value that can be attained through it can be a reward and can solidify this feeling in your life. While I am not advocating that sitting in front of a computer certain times of the day is a one-stop solution to discipline, I am saying that it can help create a framework for personal growth.
As a trader, you will quickly learn that without discipline, it’s impossible to succeed in this business no matter if you’re a full-time trader or starting out part-time.
It gives you time to check if full-time trading is really for you
Another advantage of part-time trading is that it can give you the needed time to assess if you have what it takes to switch careers and make this your full-time job. It is now becoming more common for mums and dads to start tag teaming the parenting, allowing an opportunity for one or both to extend their working hours.
The key with the time you’re going to spend to be able to learn how to trade has to do with the quality of time that you put in. It’s the consistency of time rather than the amount of time, which is more important when deciding if you want to become a full-time trader.
Learning the skill of becoming a trader takes time so see this as an opportunity to discover your strengths and develop your trading skills.
Even if you don’t have large amounts of money available for trading, you can still generate a small income that you can either use to build your account or to spend on some fancy clothes or on a night out at your favorite restaurant.
Part-time Trading is Stress-Free
Part-time Forex trading also gives you the advantage of being stress-free which can be an edge. Work-related stress is the second cause of workplace compensation in Australia making this stay-at-home job more attractive.
With part-time trading, you won’t have the stress and the pressure to perform and to make money so you can pay your bills. Trading from a position of fear is always a recipe for disaster.
If you don’t have the investment needed to earn enough money to make full-time trading worthwhile, then part-time trading is the right solution for you.
Being able to not think about the money and being stress-free is a benefit that comes with part-time trading.
With part-time trading, you can get rid of some of the pressures that come with the need of making money every month because you already have other sources of income to supply that need.