Fulltime trader loner?

Quote from taclander:

I am at 10 years full time, and quite a few part time previous, a few of those were probably close to full time. The full time for me is turning into the same experience of working for someone else. I am getting worn out. I have the benefit, although for me it is also a pain as it cuts income, of having summers pretty much off as I am running kids here there and everywhere. At the same time I am a strictly manual trader, and due to other issues I am trying to learn how to automate some of my trading.
One of the issues with full time trading if you are on your own as opposed to being with a firm is the lack of benefits of any kind. I hear people proclaim how great I have it, and I thought I did too. Unfortunately I have been dealing with effects of medical crap, concussions, and they have impacted my trading. Yet, there are no paid days off, or short or long term disability. I am out of work for the most part, and I had to identify I needed to stop trading on my own. This summer I am going to take off completely, hopefully, and recover. Wow, how great a summer off! Well, no as the income will be missed, and hobbies and retirement accounts will suffer.
The other end is human interaction. A whole lot less working on your own in front of a computer. I can say even before my current issues my social skills have deteriorated from trading daily.
There's my 2 cents, and hopefully makes sense, as I am having issues with that lately.
Peace
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Sounds like you are going through a rough patch. Wish you the best with getting beyond this.

Maverick 74 did say way back that from his experience, it is easier to be long-lived in trading if one swing trades, rather than day trades. I guess the intensity of day trading is just harder to sustain. Automation is a good alternative if it works with your strategies.
 
Quote from volente_00:

Then how are you going to trade from the golf course ?

Lol, well I've never seen much benefit to trading from a smart phone other than a neat looking option that brokers sell on TV commercials. I would hate to think my trading account depended on whether I could make that one trade from my i-phone, lol. Man I hate phones, I am always afraid there is someone on the other end when it rings, lol!
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Quote from energizer1:

Quote from volente_00:

Then how are you going to trade from the golf course ?

Lol, well I've never seen much benefit to trading from a smart phone other than a neat looking option that brokers sell on TV commercials. I would hate to think my trading account depended on whether I could make that one trade from my i-phone, lol. Man I hate phones, I am always afraid there is someone on the other end when it rings, lol!
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Useful for checking when you have open positions and don't want to or can't stick by the computer. Only 3 people have the number of my iPhone. I also have an el cheapo Nokia for general use and that's the number I give out when I have to.
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thank you for sharing... you kind of reaffirm some of the challenges I had thought about if I ever wanted to trade full time... it takes its toll... that is why I started more taking the approach of diversifying the income streams...I too realized too late that disability as well as long term care insurance are expensive if not obtained via a group or company policy and then ported with you when you leave that company... heck, same goes for all insurances... why not look at going back to the work force for a brief period of time, that will enable you to get the insurance coverage you need... and then a year later just leave and carry them with you, along with the peace of mind that comes with it... and also, look at diversifying your income... setup some LLC's and go buy yourself a few rental properties that will net you around $5K-$10K per month @ 75% occupancy... that will also take some pressure off you... just some suggestions... to me, the biggest risk of trading full time is the fact there are no guarantees... and as such, one must create one's own safety nets... if there are years your trading is awesome, stash a lot of that cash away and re-invest on other assets... buy a few annuities with guaranteed value (depending on your age PRU is great for them)... and things like that...

Quote from taclander:

I am at 10 years full time, and quite a few part time previous, a few of those were probably close to full time. The full time for me is turning into the same experience of working for someone else. I am getting worn out. I have the benefit, although for me it is also a pain as it cuts income, of having summers pretty much off as I am running kids here there and everywhere. At the same time I am a strictly manual trader, and due to other issues I am trying to learn how to automate some of my trading.
One of the issues with full time trading if you are on your own as opposed to being with a firm is the lack of benefits of any kind. I hear people proclaim how great I have it, and I thought I did too. Unfortunately I have been dealing with effects of medical crap, concussions, and they have impacted my trading. Yet, there are no paid days off, or short or long term disability. I am out of work for the most part, and I had to identify I needed to stop trading on my own. This summer I am going to take off completely, hopefully, and recover. Wow, how great a summer off! Well, no as the income will be missed, and hobbies and retirement accounts will suffer.
The other end is human interaction. A whole lot less working on your own in front of a computer. I can say even before my current issues my social skills have deteriorated from trading daily.
There's my 2 cents, and hopefully makes sense, as I am having issues with that lately.
Peace
More...
 
very interesting thread on trader's life management.
I guess because I had to come across very undesirable ugly parasites wo created uncalculable disasters, I really had to assess in very very very blunt ways everything in my life - with the help of coaches, psys and the whole lot.
Basically, as full-time traders we are fully responsaible of every aspects of our lives. Sooner or later, we realise that being in trading is all about making big bucks - the question for each one is how to get there.
Now in the journey, each person has different capital : financial capital, social capital, physical health capital, mental health capital, psychological health capital, spiritual capital. One can waste it, or one can preserve it and grow it. It is all a question of awareness and choices.
Should the person had been extremely rich after these 10 years, he would see things differently.
Now it looks like a good time for him to re-assess everything with total honesty, work clear goals on each area. Even good health is a capital that can be wasted, preserved or improved.
 
Yes, it gets pretty boring. I have been looking for a few guys to share office space with. It will kill 2 birds with 1 stone. I will get out of the house and have a backup incase I lose internet.
 
Quote from textrader4:

Yes, it gets pretty boring. I have been looking for a few guys to share office space with. It will kill 2 birds with 1 stone. I will get out of the house and have a backup incase I lose internet.
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Thats a good idea indeed if there are two traders together trading may be they can get rid of the loneliness and also help each other for better trading.
 
To the OP.

Sucessful traders do not trade full time.

One thing that is fun is to spend your new found extra time helping others. Often local problems are not getting solved because of lack of money and sharpe problem solvers.

Trading to take the full offer of the market is learned rather quickly. Make a lot of extra money and get into the swing of things in your local community.
 
the question here has always been, which side of the soup kitchen does jack operate on?


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