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At times, in life, you find yourself at a dead-end or a crossroads. Whatever road you take, it’s important to keep in mind that there’s no right or wrong way. These strange times are when you learn the most; everything becomes irrelevant because your mind has the power to transform reality. If you want to change your trajectory in life, you can start trading in the foreign exchange market or launch
Day trading for a living – Trading Forex and investing in stocks
Forex trading refers to the
Making a living out of day trading is perfectly viable, but don’t fool yourself into thinking that it requires less work or effort. A career as a Forex trader can offer flexibility, not to mention that it’s extremely captivating. But let’s not forget about the steep
If you want to become a Forex trader, make sure you have what it takes. You should have one year’s worth of living expenses. The trading capital you’ll need depends exclusively on your trading plan. More exactly, do your homework, test your idea, and make a cost impact simulation. This will give you a good idea of how much you’ll need to get started. No one can predict accurately or correctly what will happen. As a rule, it’s better to understate expectations than to inflate them. If you do, you risk getting disappointed. If trading from home is the key interest, establish what markets you’ll trade based on your capital and interests. You’re your own boss, so you can work exactly when you want. Focus on the quality of the work, not on quantity.
Launching a startup – Start doing business now
Startups play an important role in economic growth, as they generate employment and inject innovation. There are many reasons why you should launch
It takes about two or three years for a startup to become profitable. This doesn’t apply to every business, which means that you’ll probably have to wait longer. The average net profit can be as low as 1.5% and as high as 7%. Speaking of which, by profit, it’s understood as the percentage of revenue after you deduct the overhead expenses, payroll costs, income streams, taxes, and
There’s more than one way of doing business, so don’t place too much pressure on yourself. If you’re seriously considering going down this path, seriously consider your financial runway. You can use your savings to fund your startup. Make sure that you can support yourself until the business becomes profitable. In this respect, it’s recommended to earn some money on the side. There are several online platforms such as Upwork, where you can find numerous gigs. Of course, there are other means to make money, such as crowdfunding. Keep in mind that the entrepreneurship journey is a hard one.
So, how do you pick?
Chances are that you’ve made it to this point and you’re undecided. You don’t know what to do. You’re aware that you should do bigger, better things with your life, but you’re obviously at a loss. What you need to understand is that there’s no one-size-fits-all solution. Do the math and decide what’s best for you. If you’d like to combine the two options, consider becoming a Forex broker or a market-maker. You’re not trading for yourself, but rather helping others out. It may turn out to be your passport to future success. That’s up to you to decide. Decision-making shouldn’t come lightly. Choosing well doesn’t necessarily mean choosing slowly. Brainstorm all the possible options and look for compromises or alternatives. Increasing awareness and mindfulness helps navigate the maze of decisions.