If you need to ask this sort of question then you are an awfully long way from being a full time trader. Keep researching and don't give up the day job.
Trade for living-how much $ do I need??
- Thread starter jimclark
- Start date
If you need to ask this sort of question then you are an awfully long way from being a full time trader. Keep researching and don't give up the day job.
"provided no emergencies" ...
Jim
Since you do have limited funds and considering that your family will be at least somewhat dependent on you for income, my suggestion is one of two options. First keep you current employment, enter orders before the markets and just trade with limit orders and of course stop protection as well. Depending on what type of trader you are, you can do your homework at night and before the open and then enter you orders for the day. The other alternative I see is if you are really serious about doing this full time, take ten or fifteen thousand and look for a firm that you could work as a remote funded trader or prop trader. If you really want to learn to trade for a living take some steps and explore your options, talk to as many full time successful traders as you can and then make your decision.
Best of luck
Chad
Since you do have limited funds and considering that your family will be at least somewhat dependent on you for income, my suggestion is one of two options. First keep you current employment, enter orders before the markets and just trade with limit orders and of course stop protection as well. Depending on what type of trader you are, you can do your homework at night and before the open and then enter you orders for the day. The other alternative I see is if you are really serious about doing this full time, take ten or fifteen thousand and look for a firm that you could work as a remote funded trader or prop trader. If you really want to learn to trade for a living take some steps and explore your options, talk to as many full time successful traders as you can and then make your decision.
Best of luck
Chad
Well the age old question of how much do I need to be a fulltime trader.
You need enough for atleast a years expenses and the acceptance to loss all your capital in the market.
.. how have you been? it has been a while.. Hey Jim
Try this little test.
Think to yo0urself, if you had to put on three trades, RIGHT NOW, what would they be. Why?? Where would you get out ?? Why. Of the three assets, where did each break out from last? And the time before that. Without looking at a chart, how strong os the trend in each case.
If you can answer those questions, then you may be ready to start having a go.
Just a thought anyway.
Good luck
Try this little test.
Think to yo0urself, if you had to put on three trades, RIGHT NOW, what would they be. Why?? Where would you get out ?? Why. Of the three assets, where did each break out from last? And the time before that. Without looking at a chart, how strong os the trend in each case.
If you can answer those questions, then you may be ready to start having a go.
Just a thought anyway.
Good luck