Gonna jump; need advice

I thank everyone for their opinions. For all who were aghast at the thought of my leaving my current job, I’m not thinking about going into trading as someone trying to cross an expressway blindfolded during rush hour. I have a detailed strategy with conservative estimates of what I think I can accomplish.

Puffy, I respectfully but completely disagree with your final comment.

Dotslashfuture, that's an alternative that will come up when I cross the bridge.
 
"I have a detailed strategy with conservative
estimates of what I think I can accomplish."

That's the key. Too many traders jump in without a
plan/system/methodology. If you've devised, tested, small traded, and refined a system that makes money whether the market is bull or bear, you're ready. If for every market move or possibility you have a rule. You're ready. Now all you need to do is to execute flawlessly and keep emotions out. Something I personally still find hard to do.
Go for it. Good luck!

************************************************

A great deal of talent is lost to the world for want of a little courage. Every day sends to their graves obscure men whose timidity prevented them from making a first effort."
-Sydney Smith
 
Originally posted by Guerilla
I thank everyone for their opinions. For all who were aghast at the thought of my leaving my current job, I’m not thinking about going into trading as someone trying to cross an expressway blindfolded during rush hour. I have a detailed strategy with conservative estimates of what I think I can accomplish.
More...
As Yoda would say, "You are not afraid? You will be, you will be." Or as Strider would say, "Are you afraid? Not nearly engough."

Someone might rationally give up a crappy programming job to do this, but someone earning mid six figures? And employed by a hedge fund no less.
 
I have to agree with p.diddy......

think very hard.....Why not swing trade if possible; this way you can test what backtesting cant test.......:mad: :D :( :eek: emotion
 
I left a 5 figure job in the Operations area of a major Fund House to Day Trade. Gee that does not sound as crazy as the guy leaving the 6 figure job as a risk manager now does it :-}
I now have my own business that has nothing to do with Day Trading , however working out of my home I still trade.
 
don't quit your day job! Better yet I'll save ya 20K....send me a check for 10K and I'll ban your SS number at all the clearing firms so you cant trade.
 
Originally posted by AAAintheBeltway
riskless,

Care to share how that guy blew $250k in 8 days? what's the difference in trading stocks and futures?
More...


The poor guy was Cannonballing and consistently on the wrong side. I don't think that there is a difference between trading stocks or futures in this case. He was just on a crash course. It was not his first time trading futures either. I just mentioned it to stress that 4 times margin in an index future can cause some serious damage.
 
Guerilla,

I left a 6 figure job in management consulting in Feb of 2000 to trade full time. Like you, I had the resources and conservative strategy and had it all planned out. Well you know what happened in March of 2000 ? The bubble burst big time and trading since then has been a most difficult experience and not at all what I anticipated. Would I do it again ? Probably not. I would go back to my cushy job and bonus in a second if it was available. Unfortunately, professional services firms have been laying off not hiring.

If your job is not in jeopardy, go put your tongue in your boss's ear and swing or position trade in your spare time. If and when the market changes, you can re-evaluate your decision at that time.

Good luck.
 
Originally posted by Guerilla
I thank everyone for their opinions. For all who were aghast at the thought of my leaving my current job, I’m not thinking about going into trading as someone trying to cross an expressway blindfolded during rush hour. I have a detailed strategy with conservative estimates of what I think I can accomplish.

Puffy, I respectfully but completely disagree with your final comment.

Dotslashfuture, that's an alternative that will come up when I cross the bridge.
More...


My question is if you have a strategy why are you asking if you should go prop or not? The strategy should either favor prop or not. Simple.

Otherwise if you want to trade, and you love to trade go for it. There is never a "right" time to jump in.


Cheers
 
You must log in or register to reply here.
Back
Top