Quitting Trading Job at my Bank to Day Trade at Home

But before you quit your job, take some time off and try trading. All fortune 500 companies now give employees unpaid time off for personal reasons eg sabaticals. If you can get 3 weeks unpaid time off coupled with 2 weeks paid vacation( a total of 5 weeks) , you may try and trade during this time and see what happens. 30 days is enough time to cllet data to validate your trading methodology.
But be aware: You may be rudely shocked.
 
XChamp said:
Hi,

I am a trader at a large investment bank. I am well compensated, but the hours are horrible and will not improve for years (maybe never). I've been thinking about quitting for a while just over quality of life.

I have a trading strategy at work that is consistent and profitable, but is not scalable because the market liquidity is not there, so I can't use the firm's leverage to scale it up and make the bank $100mln, or even $10mln.

However, I believe I can trade this same strategy on my own. I think I can make as much as my total compensation is now, maybe double if things go well. I can't trade this strategy in my free time outside of work because 1 - I don't have any free time because 11-12 hour days + commute is life destroying and 2 - I'm not allowed to trade the same instruments in a personal account that I do at work.

I'm ready to walk away and try it. What are some issues I should investigate before pulling the plug at work?

I've already looked at:
1 - tax implications
2 - software costs, hardware costs, data fees, exchange fees and commissions.
3 - Confirmed with multiple brokers that they will take my business and provide the access to products that I need.


Anything else? The last thing I want is to sit down at my computer on day 1 and discover that this strategy won't work at home.

Thanks
More...



You sound a lot like Jerome Kerviel...
 
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