Living off Trading

I went full time in March 21 with $1Mm for selling a rental portfolio I’d built over 20yrs while working in bond sales. The keys are:
1. Have a plan with risk management
2. Have house and cars paid off
3. Paper trade often especially after winning.
4. Don’t feel the need to trade every day.
5. Never double down on losing trade.
6. Never risk more than 2%

Most importantly, have a system that fits your personality. I can’t take drawdowns without becoming irritable towards my wife and three kids so right now I am scalping them es minis and close out every day. No worries.
Longer term trend following is my goal but the markets are highly irrational at the moment and inflation, taxes, and fed policy make that a risky trade imho.
 
I didn't do it till I had 3 million in bank, house/cars paid, programming skills, and passive business going. Any one trade risk was never more than half a percent. Took all stress off, 50% was scalping and other 50% very long term commodity trading.
 
I agree handle123. I do have passive Re income and that takes the stress off. Don’t attempt to trade without the need for money or you will perish by making mistakes. The market can stay irrational longer than you can solvent.
 
Jad930 said:
I agree handle123. I do have passive Re income and that takes the stress off. Don’t attempt to trade without the need for money or you will perish by making mistakes. The market can stay irrational longer than you can solvent.
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And I agree with both of these guys as well. I think this is the way to do it.

P.s. I personally value the 20ys experience in fixed income trading (selling bonds) much more that your initial day 1 capital.
But you will be very irritable with just 1m and no other revenue streams....
 
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