How to know if you can make a living by trading（Personal level）

[Handle123]

1 Your thoughts are unique, you firmly believe in your thoughts, people around you cannot understand your thoughts, and even think you are a different kind

2 You are alone

3 You don’t need to communicate with others in terms of transactions, and you don’t want to communicate.

4 Your success cannot be taught to others

5 No matter if the market goes down or up, your heart is calm

1 Absolutely, I have Asperger's, most people do not understand me, but as one ages I will drop lower so as I can understand them. But with upmost regard, I am very respectful to humans.

2 Much of my life I have been cave like.

3 Yes, much of my life, but decades of boredom of trading I allowed people to enter my life, but only up to a degree.

4 Most can't, some can...very very slow process, I learn much about myself, my frustrations with humans.

5 Since I was born without emotions or a conscience, my subconscious does identify emotions, in conscience state when interacting with people, will get frustrated often as I see most humans to be sheep. I don't have heart with people, but I have many rules I live my life, I don't mentally have empathy, but studying people long enough, I give first aid, listen and offer logical advise or give a hug to comfort, from outside I blend in well, no one would ever know I am autistic with above gifted intelligence in small areas I have interests. I have been in battles and yet always have calmness. Markets are ultimate game, of greed and fear, learn to be not controlled by what is seen, doesn't matter whether market goes up or down, I will prosper.

 

[murray t turtle]

1 Absolutely, I have Asperger's, most people do not understand me, but as one ages I will drop lower so as I can understand them. But with upmost regard, I am very respectful to humans.

2 Much of my life I have been cave like.

3 Yes, much of my life, but decades of boredom of trading I allowed people to enter my life, but only up to a degree.

4 Most can't, some can...very very slow process, I learn much about myself, my frustrations with humans.

5 Since I was born without emotions or a conscience, my subconscious does identify emotions, in conscience state when interacting with people, will get frustrated often as I see most humans to be sheep. I don't have heart with people, but I have many rules I live my life, I don't mentally have empathy, but studying people long enough, I give first aid, listen and offer logical advise or give a hug to comfort, from outside I blend in well, no one would ever know I am autistic with above gifted intelligence in small areas I have interests. I have been in battles and yet always have calmness. Markets are ultimate game, of greed and fear, learn to be not controlled by what is seen, doesn't matter whether market goes up or down, I will prosper.

%%
MUST be something to that cave man pattern.
Dave Ramsey says get out of the cave ,kill something, drag it back in the cave.He must be an old school caveman, no computer in his cave.
IF someone was debt free, with paid for real estate, he or she would need much to live on @ all....................................

 

[Raheel Shaikh]

That's just too damn obvious for some.

How's it go, something like walk out your front door and circle the globe ... to get to your back yard.

This cracked me up.

 

[twstn]

If you can make more money than your bills then you can make a living by trading.

 

[cowmoo99]

I love this last post about how to get rich just trading; re: can you make a living in trading?

This is my also my goal, just to get specific, a single guy in my early-30's living in an expensive urban area in US East Coast in 2021, writing it out in case anybody finds it helpful or have major critiques (lol) my goal is to:

(1) Accumulate a safe dividends portfolio of preferred shares and dividend aristocrats commons that pays my rent and basic living expenses that eventually pays out 35K/year. Currently dividends portfolio is paying out ~20K per annum (so I have my work cut out for me; believe I can get there in next 3-5 years). This account will basically be my poor man's FIRE (financial independence) account and allow me to trade on an even keel even on an extended draw-down.

(2) Accumulate a separate trading account with a sharpe at 3.0 and the same variance as SPY with net liq of 500K (currently at ~300K; have my work cut out, but believe I can get there in the next 2-3 years with contributions and trading; sharpe has been consistently >3 for past 3 years). Current YTD Performance: ~37.2%. This will be my main bank-roll. Upon end of every trading year, I'l roll 25% of my profits - if any into my fore-mentioned long-term dividend portfolio.

(3) Stop doing boring work for the money but keep looking for coding and data science contract jobs (my job market skills) to keep my skills sharp and interesting things and not for the sake of money anymore. 3-4 months of contract work/year if I can get it will help cover the bills.

(4) Keep max contributions to a 401(k) and IRA account for the tax advantage. Currently combined retirement account stands at ~400K. Goal is to grow this to 500K in next 3 years.

I used to dream of escaping the 9-5 grind. And used to dream/seek out these "Trading for a Living" posts all the time. But I realize more importantly, financial independence is more a mindset than achieving a number. Having a magical number in a bank account electronic statement is not gonna make me smarter or better looking. But wishing to get rich fast definitely will jilt one's mental health and trading health. But not taking myself too seriously and not let myself get beholden to the corporate ladder… and having fun trading at the same time… well dare I say I feel like a rich winner already even if I'm not currently trading FT.

 

[Fonz]

Having more than one source of income is definitely better on the psychology when you trade full time.

It works well for me also. So far, business part time, day/scalp part time, swing trade full time.
Knowing that I don't need (...) to make money anymore helped me a lot.
I understand better "trade with money you can afford to lose". I would say "trade if you don't need income to pay the bills and your results will greatly improve".
Sad but true, at least for me.

 

[twstn]

I love this last post about how to get rich just trading; re: can you make a living in trading?

This is my also my goal, just to get specific, a single guy in my early-30's living in an expensive urban area in US East Coast in 2021, writing it out in case anybody finds it helpful or have major critiques (lol) my goal is to:

(1) Accumulate a safe dividends portfolio of preferred shares and dividend aristocrats commons that pays my rent and basic living expenses that eventually pays out 35K/year. Currently dividends portfolio is paying out ~20K per annum (so I have my work cut out for me; believe I can get there in next 3-5 years). This account will basically be my poor man's FIRE (financial independence) account and allow me to trade on an even keel even on an extended draw-down.

(2) Accumulate a separate trading account with a sharpe at 3.0 and the same variance as SPY with net liq of 500K (currently at ~300K; have my work cut out, but believe I can get there in the next 2-3 years with contributions and trading; sharpe has been consistently >3 for past 3 years). Current YTD Performance: ~37.2%. This will be my main bank-roll. Upon end of every trading year, I'l roll 25% of my profits - if any into my fore-mentioned long-term dividend portfolio.

(3) Stop doing boring work for the money but keep looking for coding and data science contract jobs (my job market skills) to keep my skills sharp and interesting things and not for the sake of money anymore. 3-4 months of contract work/year if I can get it will help cover the bills.

(4) Keep max contributions to a 401(k) and IRA account for the tax advantage. Currently combined retirement account stands at ~400K. Goal is to grow this to 500K in next 3 years.

I used to dream of escaping the 9-5 grind. And used to dream/seek out these "Trading for a Living" posts all the time. But I realize more importantly, financial independence is more a mindset than achieving a number. Having a magical number in a bank account electronic statement is not gonna make me smarter or better looking. But wishing to get rich fast definitely will jilt one's mental health and trading health. But not taking myself too seriously and not let myself get beholden to the corporate ladder… and having fun trading at the same time… well dare I say I feel like a rich winner already even if I'm not currently trading FT.

Nice plan! Keep at it!

Trading to get rich quickly and easily is gambling! You can also lose it all quickly and easily! More so the latter!