Trading part-time on 1 day a week?

  • Thread starter Thread starter lukas
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I was lucky, I first traded currencies 1am MDT till 7:30am then S&P till 9:00am back then, went to bed till 3:30pm, at some point went on different shift so I could be wide awake for the S&Ps/Bonds. Just don't think trading one day be good, you lose so much if you don't do it each day. You know you are decent day trader when you can trade well on any market, run up the currencies/EUREX till you have accumulated good size bank that will hold you over 3-4 years. It funny, for me I did well when I had a job, and when I had to make money, stress ate me up till I took it slower. I still don't like day trading much, and prefer automation great deal.

Good Luck
 
lukas said:
Among all people here, I am pretty sure most of you are in a position similar to mine where you work full-time in a non-trading job. How do you find time to trade? What do you think is the best route to take to transition to full-time trading?

I have a plan to take 1 day off work each week to trade but according to my calculations it will be at a loss to me, as it will not cover fixed costs, lost income and generate at least the same amount as lost income in profit as anything less would not be worth the risk.

The drawbacks I see is mainly my concern about excessive loss limits - I would need to aim at making at least $1,000, and be willing to lose $1,000 a day which is more than I would like, if I was trading every day of the week.

All in all, this will give me about 60 trading days a year (including holidays). Do you think it is a good idea?
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Terrible idea because you will never succeed treating trading as part time hobby.
 
Do what Handle said, get a shift job that allows you to trade the US market (assuming you are i the US) full time. For example in Cali, you can get off graveyard and still have time to trade the full market, then sleep after 1:00pm market closes.
 
I trade credit spreads on SPX every Monday. Montor position throughout day. Good for 2-3% per week. It is part time but never turned 'off'.
 
Either trade s and p options , set and forget strategies , that is possible by buying calls every time s and p drops , 3% limit orders or so

Otherwise start looking to part time job with Macdonalds flipping burgers


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lukas said:
First of all, watch your mouth, mate, cause you do not know who you're talking to. I am a former prop-trader, I have a track record from this period showing my profitability. I had to go on and work in a different industry due to the prop shop going bust and my plan to save enough money to trade on my own. Now I came to a conclusion it would take too much time and I want to smoothly transform back to being a full-time trader. Perhaps it was my mistake and I should have looked for another trading job. I chose security of income and savings growth and I cannot turn it back.

I have proved to myself that I do have talent and a method. All I need now is capital. Hence I want to keep my job which generates some savings, even with 1 day a week off, and trade to make this capital building process faster.
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Actually you came across in your orig post like a newb. Then you responded to sound advice like an immature brat.
 
algofy said:
Actually you came across in your orig post like a newb. Then you responded to sound advice like an immature brat.
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Well, I missed the part that he is actually a professional trader that used to trade in a prop firm.

Getting advice from a retail trader like me is probably insulting. My apology.
 
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