Trading the Forex, CFD, and other financial markets has always been popular due to potential profits. However, there are tons of other reasons why learning to trade makes sense.
This article offers a list of 14 benefits, explaining why you should try trading now rather than later. In the end, you'll find out that trading offers dozens of exciting things besides the opportunity to make a return on your investment.
Even if you are already trading, please take a look anyway... I'm confident you'll find a few extra reasons that you never considered before. Feel free to suggest your ideas in the comments section below!
1. Enjoy the Summer
Yes, summertime has arrived in the Northern hemisphere. Summer days can be warm or even hot with temperatures exceeding 30⁰. Trading allows you to be flexible and enjoy the day by:
- taking your laptop with you to the pool, lake, or sea; or
- trading during the times you are are home, like mornings or evenings.
2. Flexible Schedule
The flexible schedule does not only apply to the summer. You can listen to your own internal rhythm and find the best moments and best places to trade based on your trading personality.
3. Have Fun and Enjoy
Analysing and trading the markets can actually be fun. Traders who enjoy the art and science of trading will often learn a lot faster than traders who see it as their duty.
4. Time Your Investments Better
Long-term investments are often connected with fundamental analysis. Learning to read technical and short-term analysis offers investors the ability to time their long-term entries better. For instance, an investor could wait for a bullish candlestick pattern before entering the market.
5. Support During Underemployment
Reaching your full potential in your professional career can sometimes take longer than you expect. This is especially true for students who graduate in an economic recession. Catching up requires more time and dedication. Trading offers you a chance of setting up a part-time business, aside from your 9 to 5 office job.
6. Test Your Entrepreneurial Spirit and Skills
Do you think you have the mindset and persistence to establish your own business? You can test that idea first through trading. Why? New entrepreneurs often take risks with large loans, but they might not be ready for the ups and downs of a new business, and the risks involved. Trading allows you to mentally prepare yourself for risks as well as to test whether you're ready for it. Watch the video below to understand the pros and cons of trading full-time vs part-time.
7. Challenge Yourself
Trading allows you to directly improve your own skills in analysis, trading psychology, and risk management. The time spent on learning, testing, and trading is time well-spent and will always contribute to your personal development. This allows you to challenge yourself and improve each step of the way.
8. More Freedom
Trading provides the opportunity to find more internal and external freedom. With internal freedom, you have the space and ability to pursue areas of interest of your choice, rather than someone else's. With external freedom, you have the ability to work when and where you desire.
9. Help Others
Trading allows you to help family, friends, charities, and your neighbourhood either financially or with your time and skills. You can support other traders by joining a group of traders or by being their mentor just like Nenad and I do.
10. Avoid Offices, Bosses, and Meetings
The office career path is not everyone's dream. In fact, many traders are happy to avoid the office scene, a grumpy boss, and day-long meetings.
11. Defense Against Unemployment
The job market is facing fierce competition from many sources, including outsourcing, offshoring, and automation. It's good to have a plan B and be prepared for the worst. One way is to learn how to trade, which will give you the ability to profit during bad times. It will keep your skills and motivation sharp.
12. Quick Feedback Cycle
The Forex and CFD markets offer a quick response time, whether your analysis has worked out or not. Of course, traders need to monitor their long-term performance over 40-50 trades before making larger scale judgments. But traders will receive quick feedback from the market whether they like it or not, which allows traders to learn and evolve. It's also always good to test any new strategies or trading styles with a free demo account, before launching into the live market.
13. Ability to Travel
This advantage is strongly connected with more freedom and a flexible schedule, but it's worth mentioning in its own right. Yes, there is a chance to travel more and/or longer as a trader. For those who love discovering other countries, trading might be the way to go, as you take your laptop and combine travelling and trading.
14. Connect with Like-Minded People
Sharing a passion and common interest in trading and analysis is both rewarding and fun. It allows you to discuss your ideas, concepts, analysis, trades, and plans with other traders. Basically, it allows traders to share the burden with other traders, which is something that other entrepreneurs often cannot do.
Where does Admiral Markets fit in? We're here to simplify your journey as a trader by offering:
- Access to the markets with very low fees;
- Excellent trading education, analytics; and
- The best technology on the market – MetaTrader 4 Supreme Edition.
Cheers and safe trading,