I'm switching to full-time

Quote from watchdaride:

I tried going fulltime once but overtraded. Felt I had to trade every day or i felt like i wasnt working. I prefer to keep part time . I think trading fulltime is a more a mental problem being able to handle a loosing week or not trading for 2 days because of the market is waiting for some annnouncements ie payroll interest rates. Good luck just keep your options open .
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This is a good insight. It isn't about quantity. Scalping is often a fast way to the poorhouse.
 
If your current job is a mcdick job by all means quit.

trading is a blue collar job.

but if you have good job paying over $100,00/year in an office man you can trade stocks with the man's time trade at work. this manager stays in his office all day. trade stock with company time with a handheld device or wireless notebook at work.
 
Quote from Ajax2004:

I've recently decided to switch to trading full time. I've been day trading since late 2004, profitable since early 2006 and making decent money for just under a year now. I believe I'm ok on: profitability consistency, account capitalization and extra savings side of things but was curious if someone had an advise or could share their experience on what else to watch out for and how their switch to full time went.
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if you were daytrading since 2004...what is different now that you are going to trade fulltime...does not daytrading require you to do it fulltime?...or was it "in between" while working a normal job?...please explain...
 
I kind of answered that in the other replies. In short, I trade at nights, it's extremely taxing to work almost 2 full-time jobs. I rather trade than do any other work.

Quote from increasenow:

if you were daytrading since 2004...what is different now that you are going to trade fulltime...does not daytrading require you to do it fulltime?...or was it "in between" while working a normal job?...please explain...
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I still feel I need to trade almost every day. I'm not a scalper and I've got a win rate of about 40%+, if I miss the few good days of the month then performance suffers.

I know what you mean on the mental part, in a way my brain has already switched to thinking in terms of trading for a living several months ago, so experiencing bad days or weeks is stressful even now. The only thing I fall back on in those cases is the 3 years experience of having gone thru this rollercoaster thing time and time again so its mental impact gets duller every time.

One of the main tasks when I make the switch will be to try and continue to trade the exact same way I've been trading till now.

Thanks for the insightful comment.


Quote from watchdaride:

I tried going fulltime once but overtraded. Felt I had to trade every day or i felt like i wasnt working. I prefer to keep part time . I think trading fulltime is a more a mental problem being able to handle a loosing week or not trading for 2 days because of the market is waiting for some annnouncements ie payroll interest rates. Good luck just keep your options open .
More...
 
I do have a good job at a good company etc. however I don't enjoy it and would rather even take a pay cut (which I'm not) and do what I like.

trading is a blue collar - the mechanics of it yes. the pre and post work around it isn't, IMO.



Quote from vectors101:

If your current job is a mcdick job by all means quit.

trading is a blue collar job.

but if you have good job paying over $100,00/year in an office man you can trade stocks with the man's time trade at work. this manager stays in his office all day. trade stock with company time with a handheld device or wireless notebook at work.
More...
 
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