What Is Lifestyle Trading?
If your goal is to stay mobile and still earn a decent income, then lifestyle trading is a lucrative option you may want to explore career-wise. This field is not about being able to make huge money (you will be able to afford a comfortable living) but the flexibility to move around, not being bound to one place; avoid traveling to work every day and having a better work-life balance.
In other words, lifestyle trading is about making a small consistent amount every week from the stock market to support the lifestyle that you chose to live.
Who can become a Lifestyle Trader?
If you are someone who enjoys living a full life without being bound to a 9 to 5 job but also needs to make a comfortable income to live a good life, lifestyle trading might be for you.
You need not be a financial guru but have basic good instincts to excel in this field. A lifestyle trader will not become a millionaire overnight but if successful, he/she will be able to afford a decent living. The best part is you do not have to invest all your savings to become a trader as a lifestyle trader's aim is not to make a jackpot but earn consistently.
What are the Advantages of Becoming a Lifestyle Trader?
• You can do everything you need from your phone without going to an actual office.
• You need not stick to living in one place as you just need a phone to work and you can do that from anywhere in the world.
• You can easily work a day job and become a lifestyle trader as a side income as well without adding much to your workload.
• You can keep up a healthy lifestyle and not lose your sleep over work. Maintaining a work-life balance would get easier.
How to Become a Successful Lifestyle Trader?
Stick to Simplicity:
Stick to simple trading by focusing on basics and not complicating things by bidding on too many trades. The best earning potential is when you trade simple.
Be a Minimalist Trader:
Do not forget your goal is to earn a consistent living and not winning a lottery. Stick to a maximum of one trade a week. Over-trading can increase your anxiety which goes against the basic concept of lifestyle trading.
DO NOT Monitor Every Second:
Too much of monitoring will consume a lot of time which will erase the purpose of lifestyle trading. Moreover, constant monitoring is not going to affect the way the market works, so it is better to just check the market once a day and then relax.
Participate in High Probability Trades Only:
As you are not trading to make millions but aiming to make a consistent living, taking too big a risk is not the right option for you. Invest in trades which has 65% or above chances of success. Anything below this and you need to stay away from such trades.
Ignore Trading News:
Focusing too much on the stock market over the news can bring no good. It is better to focus on mathematical probabilities, risk management and wave patterns rather than the unnecessary news noise.
Trading is complex but anyone can learn it if they can learn how to analyze the market, strategize and work with numbers. But do not forget that trading is subjected to market risks hence make sure that you are absolutely confident and ready to take up trading as a career option. If you are sure about this becoming a lifestyle trader, then why wait? Contact the best Nigerian Broker of CFD and Forex and begin trading with real capital to enjoy your lifestyle freedom.