My job is holding me back

[SimpleMeLike]

Old saying:
"The toughest million to make is your first million."
You didn't say where you are on that yardstick.
So, stick with the day job until you clear that bar.

Hello countryBoy641,

YESSS, agree. that first million is tuff. I am far from it

 

[VEGASDESERT]

Not to be harsh but if you have to ask on a message board, i wouldn't do it.

Sounds like you're not ready tbh.

you'll know when you're a pro.

 

[hilmy83]

something interesting happened to me this last week. background info, I am 55 and have been actively trading for 8 years, I have had jobs for a long time where I work out of my house and can work and trade at same time.

This last week... First off I got COVID, that is the bad news. The good news is that I am covered for 2 weeks of missed work. That allowed me to trade and not have to do my sales job. And guess what? I had the best week of trading all year! I should not be surprised. Trading with no distractions is great.

so I believe that my job is not helping,,, it is actually hurting my trading.

My long term goal has always been to trade for my full time living. Right now my sales job gives me a guaranteed salary and then commissions, so it is hard to walk away. BUT, now I am asking if I would just make it up with trading and be SO MUCH happier. I enjoy trading, I do not enjoy sales (who does).

I have 6 months worth of expenses in the bank, want to have 12 months to pull the plug.

So, as crazy as it sounds, like I said I think my sales job is holding back my trading.

DO NOT QUIT YOUR JOB...

Use the money you're going to save and automate your process as much as you can.

 

[taowave]

You are far from 1 mil and hope to make 6k per day in 5 weeks??

What kind of returns are you shooting for????

Hello countryBoy641,

YESSS, agree. that first million is tuff. I am far from it

 

[Sekiyo]

Take responsibility.
It’s not your job.
It’s yourself.

 

[Concinnity]

You are far from 1 mil and hope to make 6k per day in 5 weeks??

What kind of returns are you shooting for????

Was going to ask the same question. I will say that $6k a day on $150,000.00 capital is pretty reasonable and do able, assuming you have a real intra-day edge. I mean even on $75k or 100k it's do able, but at that point you need to really have your stuff together mentally as well and your chance of failure rates also increases.

I will say though for intra-day trading I find it better to focus on the risk aspect in points, as oppose to capital returns. For example if you have a $20,000.00 account and willing to risk $10k of that, that gives you 500 points of NQ risk before failure. So if your average trade stop loss is 8 points eon 1 mini you have roughly 62 trades to lose in a row before failure.

If you've backtested and forward tested your system and it has let's say a 58% win rate and 2.1 profit factor. Than it's unlikely you're going to hit failure rate at any time if you can lose 62 in a row. At that point exponential gains are possible and what would seem like out rages returns percentage wise, isn't really that crazy.

Obviously the higher win rate and better R/R you have, the more safely and likely it is to get exponential gains before failure.

 

[Businessman]

Was going to ask the same question. I will say that $6k a day on $150,000.00 capital is pretty reasonable and do able, assuming you have a real intra-day edge.

$6K is doable, just not every day. After taking losing days into account you will average or net just a fraction of that.

If you want to average $6K a day ($1.5million per year), you probably want to be making $60K (or more) on a good day.

 

[tomkat22]

I think it would really help the OP to read Neke's journal. It's very long but well worth the read.

 

[Buy1Sell2]

Trading with no distractions is great.

so I believe that my job is not helping,,, it is actually hurting my trading.

---Your trading is actually hurting your job and your boss.

 

[Businessman]

---Your trading is actually hurting your job and your boss.

Fuck the boss. As long as you work the hours you get paid. He shouldn't expect more.

As for trading hurting your career, i agree, probably countless people have damaged career prospects and future earnings potential, not to mention current lost income, by being distracted by trading..