Advice - moving from part-time to full-time
- Thread starter trumptrader
- Start date
Another alternative and probably a good transition would be to move to trading full-time and keep your other job part-time, if possible. It's a lot of hours, but it sounds like you're already putting in the same amount of hours now.
Even if you keep your other job at just 10 - 20 hours a week, it will be of great benefit to your longevity as a trader. If your trading career hits a rough patch and you have to go back to your current industry, you're probably not going to be able to tell a potential employer that you took the past year off to daytrade -- much better to say you were a part-time consultant in your industry. Plus having a secondary means of income, even it's just enough to cover the basics, is obviously a great stress reducer. Then when you're rock solid, you can trade full-time with no other job.
Even if you keep your other job at just 10 - 20 hours a week, it will be of great benefit to your longevity as a trader. If your trading career hits a rough patch and you have to go back to your current industry, you're probably not going to be able to tell a potential employer that you took the past year off to daytrade -- much better to say you were a part-time consultant in your industry. Plus having a secondary means of income, even it's just enough to cover the basics, is obviously a great stress reducer. Then when you're rock solid, you can trade full-time with no other job.
They see the stops posted for the majority of the traders for that time period, and then run them using their own capital.
Of course other ways to avoid this problem is use mental stops. For example, market, opps I mean fake data feed from broker, goes down to take out your stop if you had placed it there. Now you need to give it some time, and see was this just a spike down and does price go right back up, if not, take your stop.
Of course other ways to avoid this problem is use mental stops. For example, market, opps I mean fake data feed from broker, goes down to take out your stop if you had placed it there. Now you need to give it some time, and see was this just a spike down and does price go right back up, if not, take your stop.