1-No Physical Requirements
There are not many ways to become very wealthy without any physical qualifications. By physical qualifications, I am not talking about running a marathon without breaking a sweat. I am referring to people with mild to severe physical restrictions, such as people who must travel in a wheelchair.
Trading Forex only requires that you be able to click your mouse. If you have full control over a part of your body and you can effectively use a mouse, then you have the potential to become a trader, as good as any other.
Keep in mind that the lack of physical work is compensated by extreme mental work, which is much more abstract and complicated than its physical counterpart.
2-No Need To Put On A Show
Working in the public sector requires that you satisfy your customer’s needs.
To make a customer happy, you may need to act a certain way that does not represent your normal behavior. You may have to be enthusiastic even if you’re not doing too well, and you sometimes have to put your ego aside because a client is acting like a kid who can’t get what they want.
Most employees don’t even benefit financially from working harder than they should; the business owners do.
When you start trading Forex, you can act grumpy if that’s how you’re feeling and you can dress however you choose to. You can be yourself at all times and your results won’t be affected by it (if you know what you’re doing) since there is no human interaction required.
3-You Can Trade Anywhere, Anytime
The heading says it all. When you start trading Forex, you are free to trade whichever session you’d like and wherever you’d like (you do get the weekends off, though).
If you feel like going on a vacation but you still want to make some money, you can wake up early and spend a couple hours trading in the morning, then you can enjoy the rest of your day.
If you have a cold and don’t want to leave your bed, then that can be today’s workplace. As long as you have a laptop with some battery charge left, you can produce some results (if you know what you’re doing).
You should note that because you can trade anytime doesn’t mean you should. Maybe you should take a day off if you’re feeling under the weather, or maybe you should skip the night session if you’re feeling tired, especially if you’re not an experienced trader.
4-You Get Paid What You Deserve
I think that this is the most important factor in trading. If you don’t make money in the long run, it’s your fault. If you make a lot of money in the long run, it’s your fault.
Whatever you do when you trade is your fault. You have full control over everything that happens (everything but the price action). You have full control over when you place a trade, where you place it, how big your position size is, where you are going to take your loss and where you are going to take your profits.
Obviously there are some losses that cannot be avoided. The most important thing you can control once you have taken a loss is how you choose to react to it. That is where the big bucks are made, and that is what separates the successful traders from the consistent losers.
If you get mad after a loss and enter some unfavorable trades to recover your lost money, then you will not make money in the long run, which is what you deserve.
If you calmly analyse the losing trade you took, confirm that the odds were in your favor and that you did not make a trading mistake, then brush it off, you will make money in the long run, which is what you deserve.