Quote from xBoba:
How many of you guys here trade for a living? Just wondering what made you choose to make this your 9-5 job as opposed to having an actual job and swing trading on the side?
My commisions were exceeding my salary.
And more importantly, what do you have laid out for you for the future?
Freedom.
Do you plan on trading for the rest of your life?
By definition, trading is NOT a full time job. Surplus capital is used to help others locally or otherwise. It is just case of taking it away from the 1%'ers and not becoming a 1%'er because of the stigma of being a 1%'er.
Do you have a plan B in case trading fails?
You are correct for yourself. you will move to your plan B in a short while.
There is no job promotions as a trader and writing "Day trader" as your past occupations in a job resume certainly won't give you any brownie points unless you're applying for an Investment company or something...
Learning failure repeatedly is what happens to most. A subset is not being a successful invent and not being a successful copycat. Also your CV is permanently damaged.
By listing "successful part time trader" you peak the curiousity of potential employers or those you meet at cocktail parties. A lot of employees in the financial industry work full time. My avocation as a part timer is their vocation. Don't spent too much time talking with such, since they will become stalkers.
Trading for a living seems like a very risky "job" to take on.
You are telling ET you can't trade.
For one, cash inflow is extremely unstable and you could go broke in a matter of minutes.
You are telling ET you can't trade.
For the other, it seems like you're wasting your life in the sense that you're not really gaining any real skills/putting your skills to work like in a 9-5 job.
You are telling ET you can't trade.
I'd just like to understand the mentality of those that trade for a living. What if one day you were wiped out completely. What is YOUR Plan B, then?
Trading Is in an econometric framework. We are in a severe Depression and a Cliff is currently scheduled. Read the leading political and economic authors.
Expect free falling markets and cascading of accounts of others.
Stops do not work for any sizable account and no one uses them. Stops are a form of order that becomes a market order at the end of the line.
Real estate is permanently wrecked by market instruments; the 401 incentive created by government no longer works. We no longer have a "full employment economy". Railroads have reched their shipping capacity so manufacturing is becoming less and less effeicient.
All that the future holds is a declining life style requirement and the need to figure out how to while away the avaialbe additional time. Our family has chosen to change the scenery occasionally since trading part time can be done anywhere.
