Fear of quitting day job...

Quote from Vaughn:

P.S.
While I was writing this post I realized that term fear might be an over exaggeration for my situation. Maybe term anxiety is a bit more appropriate. Anxiety of someone going into uncertainty and starting a business for which they don't teach in school.

Bullverine, It's a good sign that you are asking questions of others. It proves you are humble, and that will take you a long way. However, the more important questions you need to ask of yourself...

1. Who are you? Are you an unintelligent, weak, and fearful human being? Have you no power to move in your preferred direction? If everyone says "no" to your dreams, are you done? Are you a creature with free will, the power to chose? Or a simple animal who needs approval of his master/s before he gets his bisqee?

If you base your life on the approval of others, you're throwing your life away. When seeking to accomplish something, ask how, not if.

I have only two questions for you:
1. Can you swim?
2. Do you have the balls to jump in the water?

If the answer to the first question if yes, your fear and anxiety is illogical. If I wanted to walk down to the local Starbutts for a mochafrap, and I knew how to walk, I wouldn't be sitting on my ass!

This is not a do or die situation. Give it a good run! If you're not so sure, give it a good run on a smaller scale. Forget the failure rate of others, that belongs to the unstudied, the unpersistant, the weak and fearful masses, not you! (unless, that is you. Like I said, this all boils down to who YOU are). Do not be afraid, just stay awake, learn to trade and manage your money properly. If somebody can do it, you can do it. You're already leaning in that direction. Prove yourself.

It's an ask, seek and knock world. No more approval ratings. Do it. Take it. If you can't, you'll know soon enough. That's more than you know now. And you can't do anything with what you don't know.

Who are you, Bullverine?
More...

Amen!
 
Quote from Darior:

As Dalen already said, go on a "vacation" for three or four weeks and devote that time for trading, and if it clicks and profit is there, I don't think that you should look back...
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Personally, I don't think 3 weeks of vacation or 6 weeks personal time off is enuff.
 
Quote from Bullverine:

I am on the verge of leaving my day job and getting into trading full time. This post is not about my chances, my experience, me edge or my capitalization. I have covered all those bases and set my mind on trading long time ago, but I cant help to feel a discomfort or even fear to leave my 9-5 job/steady paycheck. I am not in the situation where I have large bills or a family to take care of, the paycheck is not essential to my near term survival. I am wondering where this feeling is coming from. It seems like that it has to do with lack of certainty that comes with trading full time, or is it a by-product of an upbringing that emphasizes 9-5/steady paycheck as the only proper way to live.

Do you remember your first leap? Did you feel that slight fear/hesitation?
:eek:
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First thing I suggest is that you refrain from indulging in any unrealistic expectation. Unless you have many years under your belt as a successful trader, you might just want to hang on to your job until you learn the ropes. While you might be jobless, the market will always be there for ya.

Also how much are you currently bringing home from your 9-5 gig? When you first start trading, use that as the baseline for your profit. Suppose you make $100,000 annually. That would be $8,333 per month or $378 per day (divided by 22 trading days). You would need to make this much to break even.

Is it difficult to make $378 on any given day? Possibly. If you were trading 1 contract of S&P 500 eMini (ES), that would be roughly 8 points. Is it impossible? Hardly.
 
Quote from Vaughn:

P.S.
While I was writing this post I realized that term fear might be an over exaggeration for my situation. Maybe term anxiety is a bit more appropriate. Anxiety of someone going into uncertainty and starting a business for which they don't teach in school.

Bullverine, It's a good sign that you are asking questions of others. It proves you are humble, and that will take you a long way. However, the more important questions you need to ask of yourself...

1. Who are you? Are you an unintelligent, weak, and fearful human being? Have you no power to move in your preferred direction? If everyone says "no" to your dreams, are you done? Are you a creature with free will, the power to chose? Or a simple animal who needs approval of his master/s before he gets his bisqee?

If you base your life on the approval of others, you're throwing your life away. When seeking to accomplish something, ask how, not if.

I have only two questions for you:
1. Can you swim?
2. Do you have the balls to jump in the water?

If the answer to the first question if yes, your fear and anxiety is illogical. If I wanted to walk down to the local Starbutts for a mochafrap, and I knew how to walk, I wouldn't be sitting on my ass!

This is not a do or die situation. Give it a good run! If you're not so sure, give it a good run on a smaller scale. Forget the failure rate of others, that belongs to the unstudied, the unpersistant, the weak and fearful masses, not you! (unless, that is you. Like I said, this all boils down to who YOU are). Do not be afraid, just stay awake, learn to trade and manage your money properly. If somebody can do it, you can do it. You're already leaning in that direction. Prove yourself.

It's an ask, seek and knock world. No more approval ratings. Do it. Take it. If you can't, you'll know soon enough. That's more than you know now. And you can't do anything with what you don't know.

Who are you, Bullverine?
More...

Wow!

+2
 
Quote from dalen:

So OP with all the wonderful advice suggested, what did you decide to do..?
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Ironically while I was making all my preparations the decision was made for me. A large number of people (including me) was laid off. My wish has been granted and now I am free to swim in this wonderful market. So far things are going good on the daily front, but my long term portfolio is obviously taking a beating.
 
Quote from Bullverine:

Ironically while I was making all my preparations the decision was made for me. A large number of people (including me) was laid off. My wish has been granted and now I am free to swim in this wonderful market. So far things are going good on the daily front, but my long term portfolio is obviously taking a beating.
More...

I hope you got a decent serverance pay to keep you afloat for a while.
 
Quote from Blotto:

A proficient trader starting out now and grinding it out day after day will be in a position to retire after the next crash.
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Don Quixote comes to mind here. And the proficient trader can also go bankrupt as easily, or even more easily. A crash does not give someone retirement, otherwise the billion dollar institutions would have expanded 10 times in size due to the crash, with their much fore formidable research and financial resources, than Joe Sixpack Trader at home, with his 3 monitors.
 
I am in the process of doing the very same thing.

I have a lame comfort job, it sucks up a lot of my trading time but oh well.

Honestly, if you want to trade full time, do it responsibly. Trade part time, or take a week / month off. If you are profitable you can consider the jump.

It would be ideal to find a trading system and "comfort" job that allow you to do both.

I am trading part time until I get cocky.
 
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