Did you know that recent studies have found that 70 to 80% of retail traders don't see any profit?
Trading is very tricky, which is why uncovering the mystery behind the retail trader's lifestyle is so important. If you're looking to learn more about what a retail trader's lifestyle is and what it looks like, we've created a complete guide to help you.
Keep reading to learn more!
Sticking to a Strict Schedule
There are specific trades that only open up during set times. If you take a look at the stock market, stock exchanges can happen as early as 10 in the morning. All the times depend on the exchange and working as a retail trader, you have to keep a strict schedule.
There are many people that believe that the freedom that comes with retail trading means that you can work whenever you want. However, this is a very misleading concept. You have to stick to a strict schedule to manage positions, complete property search, and place orders.
You Have to Work Full-Time
For you to be successful with retail training, you not only how to stick to a strict schedule, but you also have to come to an understanding that you'll be working full-time.
When you're first starting off, you maybe only working part-time. But as you spend more time completing research, creating new strategies for success, refining your skills, you'll end up putting in enough time and hours to work a full job.
You have to be ready for the amount of work that this is going to take for you to be successful. We recommend not only dressing the part, but getting yourself mentally prepared for the focus that it'll take from you to succeed.
Changing Your Mindset
There is a required change of mindset for you to become a successful retail trader. Many people believe that they can just jump into this new career and see instant success. However, becoming successful with retail trading, is like starting your own business.
For you to start seeing growth with your retail trading lifestyle, you will need capital. You also need the motivation to see success, despite the many failures and setbacks that you will face.
Keep in mind, that if you're interested in working for yourself and making money outside of the regular nine-to-five, there are easier ways that you can start earning a living. Getting involved in the training industry is one of the career paths that you'll take where you will constantly have to keep yourself educated and sharp so that you can see success.
Uncovering the Truth of a Retail Trader's Lifestyle
By understanding the type of lifestyle that a successful retail trader truly lives, you'll be better able to form your schedule to mock that of a successful retail trader.
Are you interested in dressing the part to be a successful retail trader? Check out our available inventory here!