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Should I trade full time???
- Thread starter trader07
- Start date
Quote from trader07:
I make $140K salary plus $35K-75K bonus (depending on factors) per year at my current job. But when I get a chance to trade I do REAL WELL too. I think I could trade full time and make as much as I'm making in salary (and maybe bonus). I have been trading on/off for 15 years while working FT salary job. For the last 2 years I have been making 50%-100% return even while working FT. However, I have a family (wife 2 kids). What do you think, should I "seize the day"?
One thought ... you've been successful trading part time. But you also have the security of your salary, bonus and other perks (like health insurance) to fall back on if you started to lose $$ trading. Relying on trading profits to support a family of 4 may be a bigger challenge than you realize. If I were you I'd only consider going FT after I had paid off my mortgage, credit card debt (if any) and any car loans. You don't need the pressure early on of being in a "must make" money from day one. I'd also make sure my trading funds were at least $400K if you're trading retail.
I went through a similar scenario back in 1996 except I didn't have any kids. I gave up a lot (corp. job, income, bonus, benefits) and had a few challenges along the way and not only survived but am trading as well as ever today. For me the key was getting through the tough times and adapting to the markets and feeling you can make money in any market. I don't think you can put a price tag on the freedom trading allows you.
Absolutley do not change a thing. If your trading works during the limited time that you have available then stick with it. Increasing exposure to varying markets may not work for your style.
Quote from trader07:
I make $140K salary plus $35K-75K bonus (depending on factors) per year at my current job. I know, it's a lot of money. But when I get a chance to trade I do REAL WELL too. My dilemma is that I don't get to trade much because I'm working for the man. I think I could trade full time and make as much as I'm making in salary (and maybe bonus). I have been trading on/off for 15 years while working FT salary job. For the last 2 years I have been making 50%-100% return even while working FT. I like the thought of working for myself, home, jeans etc. instead of dealing with the drivel of working for somebody else. However, I have a family (wife 2 kids). What do you think, should I "seize the day"?
"Independence is the only gauge of human virtue and value. What a man is and makes of himself; not what he has or hasn't done for others. There is no substitute for personal dignity" Ayn Rand, The Fountainhead, 1943.
Hey it is your life. You plan it as you see fit. If you think you can do it go for it. If your plan A does not work, execute plan B!
Quote from dozu888:
how about staying at the job AND trading full-time?
the earth is round.... you know.
Problem is I can't work FT and trade FT. Work interferes with trading and visa/versa. My most productive trading hours are morning and that's also when the most demands are placed on me at work. Thanks for you comment though.
Quote from BondTrader50:
Absolutley do not change a thing. If your trading works during the limited time that you have available then stick with it. Increasing exposure to varying markets may not work for your style.
A couple of comments have been made along this line. "Why change a good thing". Very true. But thinking about reaching for my dreams.