Should i take up day job offer?

I

innovest_11

Just got retrenched and currently doing fulltime trading, but have a lower pay job offer recently, should i take up the job offer and quit fulltime trading?

My fulltime trading is profitable but can only earn the same or slightly more than this lower pay job, but hopefully there will not have any big loss coming my way for trading.

It has been my dream of trying fulltime trading, but i have not experienced the pain of withdrawing money from my trading account, as i still using my retrechment money.

But if i take up this lower paying job, I'm able to keep my retrenchment money, and i can also do profitable part time trading, the profit will be about the same as fulltime trading, plus i don't have to withdraw money from my trading account monthly, but this is very tiring doing day job and parttime trading

If i do fulltime trading, my trading account will not grow much as i need to withdraw money monthly. But i aim to earn more per day, but sometime this cannot be forced, profit depending on whether your setup exist for that day...

btw, the lower paying job is quite low level and not much career path, only good thing is it can provide fixed income for my monthly expenses, plus i have 3 kids and a new house coming which I have to pay monthly, but spouse working too.

I'm lost, pls advise
 
Quote from innovest_11:

Just got retrenched and currently doing fulltime trading, but have a lower pay job offer recently, should i take up the job offer and quit fulltime trading?

My fulltime trading is profitable but can only earn the same or slightly more than this lower pay job, but hopefully there will not have any big loss coming my way for trading.

It has been my dream of trying fulltime trading, but i have not experienced the pain of withdrawing money from my trading account, as i still using my retrechment money.

But if i take up this lower paying job, I'm able to keep my retrenchment money, and i can also do profitable part time trading, the profit will be about the same as fulltime trading, plus i don't have to withdraw money from my trading account monthly, but this is very tiring doing day job and parttime trading

If i do fulltime trading, my trading account will not grow much as i need to withdraw money monthly. But i aim to earn more per day, but sometime this cannot be forced, profit depending on whether your setup exist for that day...

btw, the lower paying job is quite low level and not much career path, only good thing is it can provide fixed income for my monthly expenses, plus i have 3 kids and a new house coming which I have to pay monthly, but spouse working too.

I'm lost, pls advise
More...

Sell your kids. I saw some Romanians sell their kids for a VCR on some 20/20 episode back in the 90s. If your kids aren't spoiled and show great delight upon seeing groceries in a grocery store within a capitalist (or what's left of capitalism, anyway) country, I am sure some rich person will offer a pretty penny.

I jest, of course. If you are asking this question, I think you know the real answer deep down inside.
 
No brainer.

1) take the job.
2) continue to trade and build your account slowly.
3) ask your wife to be patient and just recover your strength on the weekends ... this won't last forever. :)
 
To add on, i have been swing trading for 7 years including 2 years day trading, I found day trading for suitable for me though

And since i just got layoff, i thought i can use this chance to experience real fulltime trading, with no day job. See how much i can earn daily from day trading. If i join the new job, no chance to do fulltime trading

However, if i don't take this lower pay job, it will be gone soon and i may not get any job coming and now job is hard to find.
 
Quote from BPtrader:

If you ARE profitable, how can you be lost?
More...

My profit will be used to pay for my monthly expenses and my trading account will be stagnant, will not grow much, though i can try to trade more aggressively but carry risks, which may even cut into the profit

And also there can be big losses, which i'm trying very hard to minimize

Previously, i have day job to pay for my monthly bill and do trading, but i'm not getting enough sleep and very tired, so i thought fulltime trading can do my health better and i can really focus on trading
 
Take the job!

In this economy, how can you refuse a guaranteed paycheck? Especially if you have kids & a mortgage?

You can still swing trade, and perhaps F/T D/T later on... maybe if the job doesn't work out....

If you're too tired, cut back on trading a bit. Maybe cut back on spending as well...I know, easier said than done, but nevertheless...:D
 
Take the job.

There's nothing wrong with having a regular paying job.

I used to have a night job as a sushi chef to pay my bills for 2 years. I know plenty of guys from Chicago who was a prop. trader at day, and a bartender at night.

This is only a 2nd hand info but one of the guy who was mentioned on Trader Monthly was a waiter in a restaurant for 3 years when he started trading at a prop. firm. There's no shame in trying to make an honest living.

Also, that extra source of income will give you a sense of security, which will help you keep your trading in line psychologically.

Added:

He does post much now but Aaron Schindler mentioned in ET that he was a waiter for 6 months or so before he got the gig from RQSI Emerging CTA as a fund manager.

http://www.schindlertrading.com/index.php?page=staff
 
If this job is not hoisting a pick or moving concrete with a wheel barrow or something similar then how hard could it be to trade part time.

:D
 
You must log in or register to reply here.
Back
Top