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Making MORE MONEY TRADING working full time?
- Thread starter Speakingout
- Start date
Quote from candletrader:
I both agree and disagree with this... I agree if your non-trading business/job is in the same timezone as the exchange's hours that you are trading... I disagree if your non-trading business/job is in a different timezone to the exchange's hours that you are trading... in the latter case you can focus 100% of your attention on both, without any trade-offs i.e. if you are a US West Coast or Australian morning hours trader or a European trader who can catch the closing hours of New York as well as the opening hours of Sydney, you can effectively live two lives... your life as a professional musician (for example) and your life as a trader...
And about your point about "needing" another job, there are some people who can't choose between their vocation of being the top chef at a classy restaurant (for example) and their passion for trading.... time zone segregation is the solution... do both...
Or what Do You mean by 'segregation time zone' ?
ttrader
Swing trading and working full time can be accomplished very successfully if you develop/use a good system which considers reward-to-risk prudently. Stop & stop limit orders get you into the market effectively but the key is to get stops entered once you're in the market.
___________________________
I am on a rather large prop desk in NYC currently and it seems that the prevaling mentality amongst most traders is that daytrading is the be all end. Any other type of EOD trading is either for the public (whom they deem clueless) or for heavyhitters (whom they deem "magical"). One has to ask themselves whom really is the "retail guys" but thats another subject.
It's seems to me after much observation there are smarter ways to advantage opportunities in the market and with more efficiency of one's human capital. Also, with less financial risk and peace of mind (essential ingredient to successful trading).
The keys being rigidly defining risk on any given trade and clearly defining a trading edge. Then letting go.
The decision making process is still the same except that instead of having seconds to make a decision you now have a few hours to think it thru. Also, there is a clarity that comes to the process (what i have seen personally) that one doesn't have when they have the mkt and your position ticking in your face.
You'll start to ponder your positions on on the train or in the car. You start to see the probablities. risk & rewards clearer.
Yes & all this while holding down a fulltime job.
___________________________
I am on a rather large prop desk in NYC currently and it seems that the prevaling mentality amongst most traders is that daytrading is the be all end. Any other type of EOD trading is either for the public (whom they deem clueless) or for heavyhitters (whom they deem "magical"). One has to ask themselves whom really is the "retail guys" but thats another subject.
It's seems to me after much observation there are smarter ways to advantage opportunities in the market and with more efficiency of one's human capital. Also, with less financial risk and peace of mind (essential ingredient to successful trading).
The keys being rigidly defining risk on any given trade and clearly defining a trading edge. Then letting go.
The decision making process is still the same except that instead of having seconds to make a decision you now have a few hours to think it thru. Also, there is a clarity that comes to the process (what i have seen personally) that one doesn't have when they have the mkt and your position ticking in your face.
You'll start to ponder your positions on on the train or in the car. You start to see the probablities. risk & rewards clearer.
Yes & all this while holding down a fulltime job.
Quote from J-Law:
Swing trading and working full time can be accomplished very successfully if you develop/use a good system which considers reward-to-risk prudently. Stop & stop limit orders get you into the market effectively but the key is to get stops entered once you're in the market.
___________________________
I am on a rather large prop desk in NYC currently and it seems that the prevaling mentality amongst most traders is that daytrading is the be all end. Any other type of EOD trading is either for the public (whom they deem clueless) or for heavyhitters (whom they deem "magical"). One has to ask themselves whom really is the "retail guys" but thats another subject.
It's seems to me after much observation there are smarter ways to advantage opportunities in the market and with more efficiency of one's human capital. Also, with less financial risk and peace of mind (essential ingredient to successful trading).
The keys being rigidly defining risk on any given trade and clearly defining a trading edge. Then letting go.
The decision making process is still the same except that instead of having seconds to make a decision you now have a few hours to think it thru. Also, there is a clarity that comes to the process (what i have seen personally) that one doesn't have when they have the mkt and your position ticking in your face.
You'll start to ponder your positions on on the train or in the car. You start to see the probablities. risk & rewards clearer.
Yes & all this while holding down a fulltime job.
You're absolutely right. Only a fullfiling fulltime job gives You the inner peace.
ttrader
In the long run, trading full time means you will learn a lot faster, make less mistakes, and spot more opportunities. Taking a full time job will provide more present income, but will significantly retard your future income as a trader.
Still, it is better than trading full time and blowing out.
Still, it is better than trading full time and blowing out.