Wow only 2% draw on one of the riskiest asset classes there is, incredible.These are penny stocks they trade quite differently, don't forget they are not marginable nor can you short them or scale up to a large position size. So making 40-50% a year on a these stocks isnt as impressive as someone making 18-25%/ year on a futures account or trading blue chip stocks were he has leverage. Anyways im just asking how you guys transitioned into full time traders?
Wow only 2% draw on one of the riskiest asset classes there is, incredible.
Easy answer to your question. There is no transition, at least for me. One day I had a full time job, then I quit and just focused on trading. My vote is #3 on my above post.
Not yet but there's always that chance.Did you ever have to stop trading and go back to work because you were unable to stay profitable?
Not yet but there's always that chance.
Personally, I just like to have at least 1 year living expense set aside no matter what. I'm comfortable with that amount.Thats what I worry about, how do you know how much to save vs spend? or you just go about it like a regular job. I feel like I need to save all my profits for when that day comes.
First post
Keep it that way, many people have an opinion especially on open forums. If it works then keep going with it. It's very easy to be distracted by the ideas of other people, often having another agenda.
Finish your studies, the backup is useful in the future. If the system stops working or you want to try something new and it doesn't pan out, take a trip for a few months with the profits. Travelling is the elixir of life. Come back and try again with a fresh perspective.
That's it, you're already beating 99% of people who try trading, keep it simple and good job.
"don't confuse brains with a bull market."
Thanks much appreciated, I already take a few trips a year and I always come back fresh and better. I'm just going to have to focus on building other income streams as a back up, or focus on another system.