The Lifestyle Benefits of Trading for a Living
Historically, only people who worked for financial institutions or were already wealthy could consider trading for a living. But thanks to the internet, now everybody can. While it is definitely not something everyone should try – you can lose all your money and then some if you’re not careful – the successful people who manage to make trading into a career typically enjoy an enviable lifestyle.
Surprisingly, these lifestyle benefits have little to do with the total profits that they make. There are many successful traders who are not millionaires but who make enough profits in the markets to live well. It is the perks of the trading lifestyle besides the earnings potential that will be the focus of this article.
A word of warning, though; these do make trading sound like a very appealing career for most people. Yet the simple fact is it won’t suit most people. Trading success typically requires hours of systematic research, acting against your strongest instincts, frequently losing money, and being comfortable without a guaranteed steady income stream.
Now that that’s out the way, here are the top lifestyle benefits that successful independent traders enjoy.
- Your own schedule: Working as an independent trader, you can plan your own day and schedule work around your other commitments and interests. If you trade shares the market will only be open in a specific window of time during the day, but this only limits you if you stick to trading one market. Many retail brokerages now allow you to trade markets all around the world, which all open and close at different times.
You can also take your money out of the markets and take a break whenever you want.
- No boss: Of course, part of the reason you can decide your own hours is because you have no boss breathing down your neck. While you don’t have to explain your work to anyone or attend meetings, this does not mean that you will not be punished for sloppy work. You will lose money instead of being called in for a disciplinary.
Another thing to consider about not having a boss is that there is nobody to give you instructions. It is on you to figure out what you need to do each day and make sure you execute. Self-starters thrive under these conditions, but there are many people who don’t.
- Make yourself comfortable: A related perk of having no boss is that there is nobody to tell you what to wear or judge your office decor, if you opt for an office at all. Your workspace is entirely your own, so you can customise it as much as you like.
On the other hand, you can make use of the mobility that trading gives you as a career and travel the world. There are places everywhere that can function as temporary workspaces, and there are even dedicated coworking spots in destinations popular with digital nomads.
Trading offers several lifestyle benefits that can be difficult to find in traditional employment and career paths. You don’t even have to make a fortune to enjoy them, just be consistent enough to make it your living.
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