Here’s a list of the most popular aspects traders love about online trading. Keep in mind that this is just one side of the coin, and it applies only to those few who become good at trading and can trade full-time.
To get the whole picture, make sure also to read about the disadvatanges of trading.
You are your own boss
You don’t have to answer to anyone else. No bosses or managers to give you orders or use their position to push you around. No bureaucracy, weekly reports, or stressful presentations.
Trading is a dream job for an introvert
No team meetings, no awkward small talk by the coffee machine. Skip the toxic gossip and boot-licking to climb the career ladder. It’s just you and the sea chart.
You can work in your pajamas
Trading isn’t a wealthy person’s game anymore. Almost anyone can play it. As a trader nowadays, you don’t have to look a specific way. You don’t have to wear fancy suits. And you don’t have to be doing it from a trading floor on the Wallstreet in a high-rise building.
Go golfing on Tuesday
Had a profitable day yesterday, or just need a break? You can go golfing or skating today. It doesn’t matter that it’s Tuesday. Just make sure to close all your trades before you leave.
No inventory and no employees
You don’t need a fancy office, a warehouse, or expensive tools to make money. You also don’t have to manage a team of people, which is always a headache. Instead, all you need is a laptop and internet.
Uncover the secrets of finance and economy
As you learn about trading and investing, you will gradually discover what makes the world go round. Economics, psychology, politics, math, statistics,… everything comes together in the financial markets.
Trade from a hammock in Costa Rica
A successful trader can theoretically live on an island in the Caribbean and trade under a palm tree. However, some time zones are not well-suited if you want to trade seriously. We’ll get to that later.
Dream “job” for puzzle solvers
The financial market is the ultimate puzzle. It can never be fully solved. But the more you piece it together, the higher the chances of success.
A few years ago, the average commission charged by the broker was over $50 (for opening and closing a trade). Today, the same round-turn transaction costs $5 or sometimes even $0.
Imagine you had these choices on how to earn money:
- Make guesses about Apple Inc stock price movements on your laptop…sitting in your pajamas…without a boss, without weekly reports and presentations.
- Work as a telemarketer selling products you don’t like.
- Work in a cubicle preparing paperwork for a lousy boss.
The most attractive choice is quite obvious, right?
But if things were so rosy, everyone would be a happy trader, and it’s clearly not the case. In fact, it’s just the opposite – only around 15% – 20% of traders manage to stay in the green. Tangibly successful ones are in the single-digit percentages. At the end of the day, it’s close to certain that you’ll make more money as a telemarketer than a trader.
Nevertheless, people are tempted to dream big and reach for the stars, even if a huge risk is involved. So more and more people are trying their luck. Sadly, most beginner traders are unaware of all the risks, thus making the loss stories even more painful.
Bottom line: if you are considering trying trading, make sure you know all the downsides and myths of trading. Also, you should always try a trading simulator before putting real money on the line. And remember that trading is not the only activity that lets you aim for freedom. Nowadays, many jobs let you work remotely and organize your day as you wish. For some ideas and salary levels, you can visit remote job offering sites like remote.ok and others.