Making a living from trading is a dream for many beginners, who hope to be able to quit their jobs and live off their passion. However, between the dream and reality, there are often many illusions and prejudices surrounding this activity that need to be pointed out.

When asked if it is possible to make a living from trading, the answer is yes, but you have to know that you have to give yourself the means to do so, because it is complicated.

Here are some tips to put in place if you want to make trading your business.

Can you make a living with trading ?

In absolute terms, it is indeed possible to make a living from trading and quit your job, but your results still need to justify it. Not only do you need to be positive over a very significant number of months, ideally over several years, and above all you need to feel ready to give up your job, with all that this implies.

So it is possible to make a living with trading, if it really makes sense in terms of your life situation but also your concrete results.

How to make a living with trading ?

To make a living with trading, you need to be able to generate sufficient income over several years in a row in order to become a professional trader, which is called a proprietary trader. It is not enough to line up a few good performances for a few months, but well and truly to have regular results over several years behind you before you can hope to make it your main business.

How to make a living with trading : the importance of training ?

You will have understood if you have read our guide on the most common mistakes made by beginners in trading. There is no professionally practising trader on this planet who has not spent hundreds of hours analysing charts, testing strategies, fine-tuning his money management… in short, considering trading as a real job and not as a hobby.

One of the best ways to make a living from a profession is to become an expert, and this is even harder when you are self-taught. You have to work hard, make many sacrifices and above all spend a lot of time training. Trading is a very time-consuming and energy-consuming activity, and only the most dedicated traders can do it.

What qualities are required to hope to make a living from trading ?

First of all, the first of the qualities is patience. Trading is first and foremost an art that requires a tremendous amount of time, practice and perseverance to master. The fact is that hard work is obviously a positive aspect of making a living from trading, but it is not enough.

Indeed, qualities such as discipline, such as being able to stick to a trading plan, or emotional control, so as not to be ruled by irrationality, are other examples of fundamental qualities of a good trader who can hope to make a living from it.

Curiosity and open-mindedness are among the other secondary aspects that characterise successful traders who have made the transition from amateur to professional trader.

Finally, having a healthy lifestyle and finding balance in one’s personal life are recurrent elements found in people who have managed to make a living from trading. Sport, meditation, and a healthy and balanced diet are, for example, some of the characteristics of the lives of professional traders.

Remember that even if you have all these qualities, the main criterion for claiming to be able to make a living from trading will be your results over the long term

Getting into the shoes of a pro trader as soon as possible ?

Putting yourself psychologically and practically in the shoes of a pro trader, even when starting out as a beginner in the markets, is surely the best way to project yourself positively into success. So, whether in terms of work discipline or seriousness, but also in terms of investment, nothing should be left to chance in this sense.

Beyond mobilising all the qualities we have mentioned above, investing in quality equipment is also a very good way to promote learning, but also to project oneself as a future professional trader.

Having the right equipment, such as a good Internet connection, multiple monitors, a powerful computer and a comfortable desk, will have an impact on your learning and trading experience. Don’t neglect your seat either, as you are likely to spend many, many hours sitting in front of the screens.

Are there easier markets to make a living trading ?

As such, there are no markets that are easier than others in order to make a living from trading. In reality, the daily life of a professional trader is precisely to navigate between several markets, with several different leverage effects.

While it may be worthwhile to specialise in one market, it is important to remember that the more comfortable you are with the more common financial markets, the more you will be able to have a global understanding of this complex world.

What questions should you ask yourself before making a living from trading ?

Before you know whether you are ready to make a living from trading, you need to ask yourself about your results in a cold, objective way. In this sense, self-assessment is a fundamental exercise in knowing whether you are finally ready to make a living from trading.

You should also take into consideration that trading involves a whole world view and lifestyle that even some profitable traders are not ready to embrace. You should also consider whether the trading lifestyle is compatible with your current situation, especially your family and financial situation.

For this last parameter, we strongly advise you to have sufficient capital, so that you can turn around in case of worries and especially to be able to justify solid earnings in the long term.

As you will have understood, wondering about the possibility of becoming a professional trader requires an examination that goes far beyond the purely trading aspect, so you need to be aware of this when making your self-evaluation.

What are the benefits of making a living from trading ?

Some of the noted benefits of making a living from trading include :

• being free and independent
• the fact that you don’t have a schedule and can manage your time as you wish
• the possibility of making a lot of money for the most successful traders
• the fact of working from home with the practice that this implies

What are the disadvantages of making a living from trading ?

Some of the disadvantages found with making a living from trading include :

• income that can be irregular depending on your performance
• a constant amount of work to do
• a possible feeling of loneliness

Living from trading : a life for the elite ?

Making a living from trading is a dream for many people, but in reality, the chosen few are very few. To get there, it will take a lot of hard work, self-sacrifice, questioning, and once you have achieved the results that might justify professionalizing your trading, there is also a whole clear and objective review to be done.

Are you aware of the lifestyle involved in the daily practice of trading, do your family and friends agree with this profession, do you think you can cope in the long term with the stress of results, do you have enough capital to face the unexpected… These are the questions you must be able to answer in order to know if trading is possible for you.