Updated: Mar 4
Today’s economy is not so predictable due to the ongoing pandemic crisis. The world’s economic condition has gone for a toss but still, the financial markets are showing a positive inclination towards growth. The process of growth might be gradual but the hopes are high. In such times, Trading is viewed as a high barrier-to-entry profession, but this is simply not the case in today's economy. Today, as long as you have both ambition and patience you can trade for a living, even with little to no money. The market has opened up quite an option where traders can trade in gold and other precious metals, other commodities like oil, gas, and meat.
Sound like a plan? It is, and there are so many options available to people with the desire to put in the time to learn.
The Beginning of New Era
The current situation and changes in technology, plus increasing volumes on the exchanges, have brought about several very low barriers-to-entry trading careers. In some cases, no personal capital is required. In other cases, only a small amount of capital will be required to get you started (and it will be used as a way of verifying your commitment to trading. It usually depends on the channel with whom you are planning to partner and starts your journey.
At Seven Capitals we offer a free demo account and you can operate and register your live account for $100. Not just this, but we do offer a wide variety of offers to our customers to reap the benefits of Gold trading.
You can pursue Trading as a full-time career opportunity, a part-time opportunity, or just a way to generate supplemental income.
One option is to trade from home; however, this option can have high barriers to entry because the minimum equity requirement for a trader who is designated as a pattern day trader is $25,000.
Another option is to work for a proprietary trading firm as a contractor; with this option, you will receive no wages or perks-just a share of the profits made from trading whatever the firm is into.
With global markets so interlinked, you can trade from anywhere around the globe, and many of these international markets can be accessed with relative ease. This means that even people who have full-time jobs or children at home can trade-it is just a matter of finding the right market and opportunity for you.
Keeping all the points in mind, this is not to say that trading is an easy business; it can be very difficult. With so many routes, anybody can enter the market, but your ultimate success depends on you. With proper planning and depending on the route that you choose, trading can become a full-time career opportunity, a part-time opportunity, or just a way to generate supplemental income.
Quit Your Job To Trade Gold?
People often think that full-time traders with advanced degrees and a high pedigree only work for investment banks and can trade. Equally as common is the thought that, to trade, you need large amounts of capital and expendable time.
It is probably true that to work for an investment bank–or to walk onto a major institutional trading floor–you will need to have connections or a prominent educational background that sets you apart. However, in this article, we will focus on how the average person, with either extensive or very little trading experience, can enter into the arena of trading and creating wealth.
Trade From Home
The first option–and likely the easiest because it is so flexible and can be molded around daily life–is trading from home. You can learn all the whereabouts of how is market going to react and how does the future looks like and invest accordingly. Your charts are at your fingertips and you can access the platforms on your mobile and laptops.
The market is open 24*5 days you can trade whenever you want and can earn the profits without any halts or delays.
Contract for Difference (CFD) Market
The contract for difference (CFD) market has also expanded. A CFD is an electronic agreement between two parties that don't involve ownership of the underlying asset. This allows gains to be captured for a fraction of the cost of owning the asset. As with the forex market, the CFD market provides high leverage, which means that smaller amounts of capital are needed to enter the market. The stock market can also be traded using a CFD. While the stock is never owned, the contract allows profits and losses to be reaped from speculating on the underlying stocks or indexes by mirroring its movement.
High leverage does mean higher risk; if a trader does not have a large amount of capital, this market can still be entered with very low barriers. Educating yourself on the risks involved and building a strong trading plan are absolute musts before partaking in any trading activity, but when you're highly leveraged, it becomes even more paramount.
I hope this was a good read for you. If you want to read more about trading or if you have any questions, do leave us a comment.