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Trading As A Full Time Job – How To Achieve It
So Nicholas, how do you turn trading into a full-time job?
You’ve been trading FX on and off for a number of years. In the last year, you’ve been trading $1,500 account with some relative success, especially with the help of Financial Source. Just wish to understand some sort of path forward, would you be happy to share your experiences? Yeah, of course.
RECOMMENDED READING AND HELP: HOW TO START TRADING AS A FULL TIME JOB
So, there’s several ways you can turn trading into a full-on career. The path which most people aim for is, what you want to do is, you want to build up your track record, so you want to get at least a semi-decent portfolio of at least six to 12 months of trades.
Over those six to 12 months, what you want to try and show is minimal risk, so ideally, we say you want to keep your draw down below 10%, and you want to show that you are averaging around 2% return per month.
If you can achieve that over, ideally, a 12-month period, but, you know, if you start looking when you’re at, like, six months, what you want to then do is, you want to branch out to investors, whether you try to get contacts from your broker, you will have heard of people doing that. We may be able to help you out, if you want to send your track record into us.
You want to just look at different investment alternatives. You can look at banks, you can look at prop firms.
Essentially, you want to start getting your track record out there, looking for potential investors. Again, we might be able to help you with this. We have done with people in the past. And then, once you’ve got that, once you’ve got that track record, and you’ve got someone or some people interested in investing with you, what they’ll normally do is, you’ll get a trial investment fund then, so they might invest between 50 to 100,000 pounds, and what you’re gonna do is, you’ll continue to manage your own account, and you’ll manage their account, and then, hopefully, over the next six, 12 months again, you’re successful, and if you are in doing so, they may begin to invest more money with you.
At the same time, you’re always looking for additional investors elsewhere, and essentially, in the end, what you end up doing is, you just end up managing lots of accounts for people. And then, of course, you know, as you trade their money, you get a commission on the profits you make. So that’s probably the most popular route with people, like to try and go down.
Another option, a bit more of a quicker option, especially while you’re at, let’s say, that six-month to 12-month period, so it may be too soon to get any serious interest from major investors, but you’re at that point where you are showing that you can trade consistently, when you’ve got that, you can actually look at trade copying services.
What you do is, you go to your trade copying websites, et cetera, you put your profile, or you create a profile, and then you make an income by people copying your trades through the third-party software, and that can be a nice little filler which you do while you’re looking for those more serious investors.
And then, the third path that you can go down, which is a path which I’ve gone down, is, once you’ve got that consistent track record, and you show you’ve got a good market understanding, you can then actually look at being recruited, and actually using your financial knowledge to help train others, and essentially become a financial analyst.
You’ll notice, there’s me and Arno, and I know, over time, lots of you also remember Chris, you remember Nick, you remember John, all of us were hired from within the membership, and all of us, essentially, we’d proven we knew how to trade, we’d proven we understood how markets work, and then we essentially got hired by what is now Financial Source.
So there’s lots of different routes you can go down. Depends on what your talents are, what your ambitions are, and just what really kind of suits you and your environment.
So yeah, there’s lots of different paths you can go down. We’re more than happy to help you guys out with this as well. You know, feel free to message into support, but yeah, hopefully, that answers the question for you, Nicholas.