Anyone gave up trading for a living?

[d08]

Yes, that is my point: every effort should be worth it, leading to higher quality of life. Too often "success" comes very unbalanced and leads to lower quality of life as a result.

Speaking of trading vs. levitation, for most wannabe traders, who's only proxy to financial industry is online forums, seeing truly successful (over say 20 years) traders and seeing levitating guru is pretty much the same odds. Look @ ET.

But the idea is to retire early, so one's not required to be successful for 20+ years. 10 years of solid trading with a a decently sized account to begin with should do it.
There's a certain intelligence to giving up at the right time as well, you're right. However, doing so, all those years learning the markets are wasted, at least from the financial perspective. I actually didn't give up because I enjoyed the process too much, although I had plenty of people around advising me to do so. I'm glad I didn't listen to them.

 

[turkeyneck]

So after about 3 years of trading, I decided to go back to a career in the finance industry. Like a few others have said, the key to addressing your "employment gap due to trading" is to frame it as an advantage, and with the help of some luck it shouldn't be too much of an obstacle.

It's easier said than done. Most employers not in the financial industry look at trading negatively. To them it's not that much different than spending the last 3 years in a casino gambling. They just don't understand it or they think you are trying to sugar coat unemployment with this BS.

 

[cornix]

But the idea is to retire early, so one's not required to be successful for 20+ years. 10 years of solid trading with a a decently sized account to begin with should do it.
There's a certain intelligence to giving up at the right time as well, you're right. However, doing so, all those years learning the markets are wasted, at least from the financial perspective. I actually didn't give up because I enjoyed the process too much, although I had plenty of people around advising me to do so. I'm glad I didn't listen to them.

How many people who retired early thanks to trading do you PERSONALLY know? The answer is very typical.

 

[d08]

How many people who retired early thanks to trading do you PERSONALLY know? The answer is very typical.

I know of 1, he still trades a bit but doesn't need to as far as I know. He bought a fairly large house with a huge lot area in an exclusive area.
I don't personally know of any people who got rich off selling sports gear or furniture either but we can confidently say that they exist.

 

[DHOHHI]

Not sure about corporate world, but in case of running your own business you definitely have more freedom in time, vacations etc. compared to trading, when every day you have to trade since time X to time Y. Yes, theoretically you are free, but practically you are not. I bet most day traders get what I mean.

I'd not agree with the above. Back in the 90's when I traded in an office I sometimes made good money quickly in the day. And rather than packing it in and going home I'd trade all day. That was my mentality just as with a corporate job .. that you work "x" hours per day. Finally the guy who ran the office told me "go home if you hit your profit target". And that made total sense .. why stick around and possibly give back some of what you've already made?

And the freedom is always there with trading. I can go for a run or bike ride or do whatever I want at any time of the day. In the end I'm responsible for making enough $$$ to pay the bills.

 

[SniperDaytrader]

I did like 6 times in the past already. But I am too stuborn and I like trading too much to give it up definately. I finally see light at the end of the tunel now. But I guess there are just two possible outcomes for me - I either make it or I'll die trying

 

[i am nobody]

I know of 1, he still trades a bit but doesn't need to as far as I know. He bought a fairly large house with a huge lot area in an exclusive area.
I don't personally know of any people who got rich off selling sports gear or furniture either but we can confidently say that they exist.

Most rich people still work, so they did not retire. Carlos Slim, Bill Gates, Warren Buffet, Michael Dell, Bloomberg, Amancio Ortega, Larry Ellison.........
So the question who retired from trading is irrelevant. You don't have to retire to prove that you were successful. Your fortune should prove that you are successful.

I personally know a man who did a big invention. Started a business from that and sold everything. He wanted to live in the Provence in France and only keep sheeps. After merely one year he came back and started a new business. His personality prevented him from living like god in France. He is more happy now in his new business then he was in the Provence.

I will never retire too. I trade for money but also because I like it. It is a hobby for me. And I can decide when I trade and when I take holiday. Don't have to ask anything to anybody.
Should only ask permission to nobody.

 

[dbphoenix]

Your fortune should prove that you are successful.

Or, better, how happy you are.

 

[i am nobody]

Or, better, how happy you are.

Yes, that is a better description. If you are not poor happiness is more important than big fortune. Your priority list changes.

 

[cornix]

I know of 1, he still trades a bit but doesn't need to as far as I know. He bought a fairly large house with a huge lot area in an exclusive area.
I don't personally know of any people who got rich off selling sports gear or furniture either but we can confidently say that they exist.

Right, but that's because we sure know making a living selling furniture is possible with really many well documented cases throughout centuries and centuries of human history.

Retail trading is a bit different in this sense. Almost any degree of success there equals to becoming rich almost automatically. Yet documented cases of retail traders becoming rich are almost non-existent. Why is that so?