I'm sick and tired of work! :)

Quote from Ninja:

As someone who is working in the IT industry for 20 years now, I completely understand what you mean. Actually on most days I wish I could turn back the clock and start back from the point where you are now.

IMHO, the most important thing is that, based your dreams, you develop an action plan now. Continue to save as much as possible from your salary and keep your demands low. Don't enter the rat race.

Spend as much time as possible with reading, paper trading, etc. and within a few years your dreams can become true.
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Thanks for a great post Ninja! That is what I had in mind to do.
:)
 
to Bali_survivor: why don't you answer me in the thread instead of via PM, I don't mind your critic. And I think it very stupid of you to send PMS and not accept PMs back!

I guess I should be glad i have a job, but why shouldn't one be allowed to have dreams and striving for something better?

Regarding what you said about outsourcing IT jobs to Asia. I also know IT jobs are going to India, China etc. Isn't this another reason why I should chase my dreams? I don't want to be bitter because people in India get jobs. The jobs are in fact much needed over there.

I do thank god for that I have a good education, a good job, a lovely family, food to feed my family, a house to shelter against the rough weather. But does this mean I can't have dreams?
 
'I understand that trading/starting a business takes a lot of time in the beginning, but I also have a belief that with years of experience it gets rather easy, and that you thereby get more spare time, or at least lot more money. '

Let me warn you that in two years of time around 90% of the traders have blown up their accounts. So before you throw in 5-10-15k make sure that you evaluate some less risky ventures out there. I knew one guy who got into ebay buying and selling computer items and is pretty busy now...........more importantly is ahead of the game i.e. not blown up.
 
Quote from toc:

'I understand that trading/starting a business takes a lot of time in the beginning, but I also have a belief that with years of experience it gets rather easy, and that you thereby get more spare time, or at least lot more money. '

Let me warn you that in two years of time around 90% of the traders have blown up their accounts. So before you throw in 5-10-15k make sure that you evaluate some less risky ventures out there. I knew one guy who got into ebay buying and selling computer items and is pretty busy now...........more importantly is ahead of the game i.e. not blown up.
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Thanks! But if you think about it that also implies that some 10% have got the hang of it by then. some small percentage is probably making a decent living. After 10 years many of these are bust, but a few is really good at it.

Now the key, as I see it, is to become one of those that make it. How can I do it? By staying at work dreaming of something that I could have had, or by actively pursuing my dream? Always learning, always getting better?


I take it as a warning, by all means necessary. But statistics don't tell much about why the 90% didn't succeed or why the 10% did not bust in 2 years. I don't want to think its random, it cant be.
You need to know what your doing if your going to trade for a living. I'd like to think that this is possible to do by learning, and that is is not something you are born into.

I'm not talking about quitting my job and start start buying some shares here and there, shooting from the hip. I think this is what a great deal of the 90% do. Don't you agree?
 
Why not just take 2 or 5k and open a simple margin account with an on-line broke like TD-Ameritrade, Fidelity, or Scottrade?.

You may like the idea of "Being your own boss" and all that, but I wouldn't jump right into day trading. You may find that trading is a lot harder than you thought, and you might decide to have the steady pay check instead.

Your an IT guy, so you can trade while you work, because Scottrade I know for a fact is web based, their is nothing you need to download, and you can trade during your break, lunch or whatever.

Get a taste of both worlds, and then decide.
 
Quote from hermit_trader:

Lots of guys love IT or engineering before they go to college. After getting the degree and work for a few years, near all of them would hate their jobs. The opposite is true for Finance. :D :D :D Many people don't discover their potential in the financial market until their 30s or 40s. All of them regert that they should do it earlier. So do it ASAP!!
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Oh man, that's so true...
I really don't need people to push me to do crazy things. So shut up!! :D
 
Trading becomes a job..The develpment of systems and ET are the high points. Count on having 400k to make 3500 a month...This way you can take out half of the profits from your system monthly and still get compounding.

Unless you are some super-dooper trader with an incredible edge (s) do not expect much.

Michael B.


Quote from elit:

Hi, I want to quit my job. I really do. I have quite a nice academic education in business/IT and a "great" job in IT, that I suppose a lot of people would love to have. But I have lost interest in my field of work, don't like the place I work at, and would like to either found a company in finance/trading or start trading for a living myself. Or a combination of both perhaps....

How much money is a _realistic_ amount needed for starting capital when starting to trade for a living? I guess it depends on how good you are... I don't spend a lot of money, I'm don't even have that good a salary, since I'm just graduated and have an entry position. I would hope to make maybe 3500 a month.


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As an ex-engineer. I have to agree with you. Engineering is complete bullshit. The only positive is that the starting pay out of university is usually pretty good.
 
You say that you have just graduated and you already hate your job? Why did you waste you time (and probably your parents money) in school without having a plan that you have researched? Maybe what you hate is the reality of working for a living and being accountable to bosses. Grow up and change your attitude. It won't matter what you do, you will think it sucks until you have a better grasp of what life owes you (nothing).

That person who wrote about doing something on Ebay was actually not far off the mark. If you can't succeed at making something there or making any other small business opportunity work for you (it would make sense to actually use your education here) on a part time basis you will not have the tenacity nor creativity to succeed at trading. Trading is just another business and a damn hard one in which to succeed. There are many easier and for most more lucrative buisness out there than trading retail.
 
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