Quote from brokenmarkets:
what kind of job do you have that you are quiting.
take 2 weeks vacation and trade full time for two weeks..if yoiu can't make money in two weeks why quit regular pay check moron!!!!
and some people trade only morninng session and still have a job or business.
and don't be a moron telling your boss you are taking time off to 'trade'
daytrading or trading is frowned upon by the public.
if i can get better job i wouldn't be trading..this job and business sucks man.
I was wondering the same thing: What kind of job would you be quitting? If you're in business for yourself, you probably take on risk every day (e.g. the restaurant business, owning a store with inventory, etc.), but few businesses pose trader-sized risk. By that I mean that traders tend to risk much more on a daily basis than other types of entrepreneurs. If you can make decent money doing a low-risk or risk-free job, I would keep that and forget trading altogether. Trading is the riskiest of all businesses (legal ones, at least). It's not unfair to call it gambling--edge or no edge. Notice how it has the feel of gambling? Sure, you've got your stop in place on every trade, but you still need to hope that your stop doesn't get hit every trade until you're broke: Death by paper cuts. Don't think that happens? It happens. Plus, it's extremely annoying to lose frequently. Losing once in a while, like a real estate agent whose deals fall through periodically--that's disappointing--but livable. With trading, one loses all the freaking time, and there's always that lurking fear that the losing streak will never really end, that the market will throw you a bone once in a while, but ultimately, you just lose.
In this economy, where many folks would practically sell their souls for a solid job, you want to throw it away to trade, a risky pseudo-profession with dubious potential for reward.
My motivation to trade is to be able to make money irrespective of what others think. There's tremendous freedom in being able to pay the bills even if everybody hates you and thinks you're stupid. Funny thing is, many jobs are like that (e.g. government jobs--nearly impossible to get fired, etc.) Maybe you want to make twice or three times as much money as you did yesterday simply by clicking the mouse. That's extremely seductive and enticing. The problem is it's not that simple. With greater size comes greater risk, and Murphy's law is more valid in trading than anywhere else. Or, maybe you want to trade for ego, like, I fear, so many of the folks on this forum. "I'm such a bad-ass. Where 97% fail, I succeed. That makes me oh-so special." Ego must play no part in trading. The markets will humble all those who haven't been already. Unfortunately, that can be expensive therapy. If you need to be humbled, go hit on a supermodel. Who knows, maybe you'll get laid in the process (something I assure you will never happen if you're home trading in your underwear all day).
I would just ask you to 1) take time out to confirm why exactly you want to trade, and 2) find out whether you can achieve that same goal in a far less financially risky way. If so, let me know.
Good luck to you and all of us.
