Totally agree.
Is it time to throw in the towel?
- Thread starter TheDailyTrader
- Start date
Agreed...go with 100 shares, but NOT WITH TSLA....it's a monster.
Pick something less volatile.
And one day you will realize you no longer need your day job, quit, trade full time and never look back.
Eagerly wait for you on the other side.
Best wishes.
I'm approaching the point where my work is interfering with me making money. LOL. I thought I would never say this. Since I mainly only trade an hour in the morning, I have to cut my positions holding time short thus curtailing the profit potential. Or if I hold longer and I'm in a work meeting I get out at a worst prices than had I been fully focused and able to get out based on price action. But I understand on downdays I feel grateful to have a job.
So, I'm thinking how can I balance this? On my good trades I wished I had more capital. Robinhood only gives 2x leverage. And not even that. For high volatile instruments there's no leverage at all.
What other routes can I do to access more capital? Good prop firms? I just want to trade an hour in the morning. Good scanners. Good tech/platform.
Any ideas? I think with the right setup in a year or so I can probably make multiples of my job. Or at least I hope so..
The most risk-free option is to ask your boss for a raise.
No Prop firm will support you while in a full-time job...so forget that idea. Right now you are on the fence between a guaranteed low income (after taxes) and a potentially high 6 figure trading income.What other routes can I do to access more capital? Good prop firms? I just want to trade an hour in the morning. Good scanners. Good tech/platform.
Any ideas? I think with the right setup in a year or so I can probably make multiples of my job. Or at least I hope so..
Best to make a decision now on which one to commit to.
I wished it was that simple. I have guaranteed six figures income before taxes. The work is interesting and I utilize a lot of different marketable skillsets.
If I were to commit to trading ft then it needs to be 7 figures to make sense. Else it's just too risky. To give up a good paying job with benefits in a rising career, then the payoff has to be significant.
I'm not there yet. But with enough practice maybe... Let's see
Not everyone is cut out for trading. Sounds like you are one of them. You're right, stop trading. You're young start a career now before it's to late. Learn investing and grow your capital.
I would dare opine that the majority of working age adults would envy such a career...
That's not how life works. At some point in your "rising career" unless you are a master politician, you're going to get cut off at the knees by some corporate ladder climber. Then what? Then you will regret it.
I saw some of the most highly skilled, experienced managers I have ever seen get taken out by 30-something year olds. The boss man at the top doesn't care of course, to his view, his company is getting better. But your family will.
To my mind, it's better to build incomes that are not dependent on full time employment. Trading is but _one_ such avenue to build an income.
Just swing trade and keep building your trading capital until you have a big enough pot. It is easier for most retails to save/build a big trading pot (it just takes time and compounding) than to get it from trading gains. Once you have a big pot, it is not difficult to make a nice living trading full time.I'm approaching the point where my work is interfering with me making money. LOL. I thought I would never say this. Since I mainly only trade an hour in the morning, I have to cut my positions holding time short thus curtailing the profit potential. Or if I hold longer and I'm in a work meeting I get out at a worst prices than had I been fully focused and able to get out based on price action. But I understand on downdays I feel grateful to have a job.
So, I'm thinking how can I balance this? On my good trades I wished I had more capital. Robinhood only gives 2x leverage. And not even that. For high volatile instruments there's no leverage at all.
What other routes can I do to access more capital? Good prop firms? I just want to trade an hour in the morning. Good scanners. Good tech/platform.
Any ideas? I think with the right setup in a year or so I can probably make multiples of my job. Or at least I hope so..
Most of you will laugh at me for saying that. Traders are too impatient to wait.