Quote from jack hershey:
I read the thread.
There is good news and bad news.
The financial situation is as follows and you did not figure this out.
Your 600k that returns 60% can support the 200K salary by using 333K of that plus 10% (33K) totalling 366K. The remainder (234K) will grow for the future .
Or you can use you trading account to produce the 200K by dedicating 50K of the 150K you now have. The remainder (100K) can be used to grow capital for the future.
So you can recalculate the proper mix. To avoid the 10% penalty on the first mentioned you do a two step process which only took me 7 months to get cleared through the IRS.
The 60% in investing is not too swift nor is the 400% in trading as annual performance when compared to what is offered.
Now the bad news.
Investing and trading under the circumstances you created is a good avocation only. I do not see a way for you to deal with your memory and the necessary shielding that is required for you to no longer use your first mental recourses during trading situations in real time. You have so much baggage at this point, that there is an extreme problem set that you have acknowledged which you would have to circumvent all of the time.
It is very difficult to build a "wall" around a large mental volume when you are trying to do something new (meaning trade or invest to support your family) as in creating a trading and investing routine full time.
Having 4 times the investing and trading capital you need is not the issue. The 15 years you spent creating the mental condition you are in is a nearly insurmountable problem.
People can do compromises. Your children may still be going to public schools and you and your family may be seriously deprived with respect to quality time spent together. Yielding to a bonus income decision is a tough decision to have made.
You need to do several workarounds on contemporary issues that do not get put on the table the first five or ten go arounds.
You did not follow any sort of critical path or thinking in the past. It is easy to zoom back and see where the more accomplished stepping off points would have been. More important is to deal with the near term down side acquisitions (mentally) and get those surrounded to make an attempt to reposition yourself.
Your path to full time trading has to become an "overlap path".
You are saddled with fear and anxiety as SOP for trading. That is a constant and a fixed cost you will always be paying.
you must eliminate the money part of the situation as a starter.
this is done by continuing apace and noting when you have investment and trading prifits that exceed your professional income. That point being resched you go up to the flight deck and check the steam pressure on the takeoff sling. you will note that you have multiyears salary available as the "steam pressure".
This means you can look for the high sign from the deck crew (your family and especially kids in prep school or college). If you get it, it means that they are willing to live with your fear and anxiety as you go full time and begin to have what some people call "freedom" and what I call "taking responsibility" for the obligations of a full time trader.
You will come to understand how, for your orientation, FEAR and ANXIETY have become capitalized.
By overlapping until your salary is actually covered by investment and trading income, you get to see your mind go through some repairwork that begins today. your objective mentally is to build a shield from your "first recourse" mental set of responses. They have to be built around with some sort of different set of recourses that are associated with being a successful full time trader. There are many bad books on this.
In summary, NO.
