Unique situation to give full time trading a shot

Quote from TraderZones:

...You can trade on the side...
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Yes, while market participants on the other side of your trades live and breathe the markets, you should be able to get away with just doing it on the side. If you're going to do something, it's important to do it half-assed.

(Not telling you what to do, just pointing out the wobbly parts of some arguments.)
 
Quote from l2tradr:

Congratulations on your success. If you woke up last year and realised that trading isn't something worth pursuing (or continuing), if I may ask, why are you still on this site? If it were me, i would concentrate on my real, tangible business.
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ET makes for funny reading in downtime. This site is comedy.
 
As background, and for what its worth, my wife is graduating with her DO later this year. (And further for what its worth: your wife's preference in future specialty is *very* unlikely to remain the same after 4 years of medical school.)

I would say, if you think you potentially might have a grudge some day about "giving up your career"... then you should go ring shopping right now, and propose to the girl by Valentine's Day. If, on the other hand, you're getting into this voluntarily with your head screwed on tight and eyes wide open, then you can take your time on the proposal.

Student loans are a great idea. Government-guaranteed 7% interest rate, 30 year to pay it back, and usually many practice groups will cover the debt in full when she graduates out of residency, anyways.

Now, as far as your career goes... sounds like you've already given it some thought, so I don't know if you're going to get any useful advice from the "community" here. If I were in your shoes, I personally would give the MBA at either UofM or MSU some consideration. You don't need to be a "full-time" trader to the exclusion of education.
 
Quote from lpchad:

Hi all,

I have a unique situation I would like some unbiased advice on. I know that is in short supply around here.

I'm 26 and engaged to a girl that will be attending a top rated D.O. program medical school. She is going to become an oncologist. In doing so, it will require us to move from Chicago to Michigan - not exactly a great place to live nor are there any job prospects for me.

The one positive is that while she is in school for 4 years, she will have her housing paid by her student loans so we don't have to worry about housing, food, etc. If she were single, she would have the same costs. The other good thing is since Michigan is so depressed it is extremely cheap to live there.

I really want to stay in Chicago and continue working and trading on the side however she has made the following offer to me. Since I would be sacrificing to leave the city for a few years while she becomes a doctor she wants me to spend at least 1 year working on trading full time since we don't have to worry about living costs.

A little more about us. We have zero debt, (no car, mortgage, CC, anything) and about $100,000 in savings.

I am cautious about this. On one hand I have a chance to give this a shot without worrying about bringing in a ton of money. This is a huge advantage.

On the other, if it doesn't work out we are lighter in savings and no prospects for me to get a decent job in MI.

In the end, she will be a doctor and we'll do alright.

I would be starting out continuing to trade small size until I gain confidence in my strategy, but will be able to devote full time to it, rather than evenings/weekends mostly now.

What would you do in this situation?
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Believe it or not, I had somewhat of a similar situation back in 2006.

My Fiancee had just started Dental school and I was working the desk at a small firm.

She asked me to move to Ohio to be with her but due to the lack of jobs I never did. I also wasn't ready to leave my job bc I loved trading so much. BUT I did decide not to take any crazy risks and stayed away from the guys who were. I felt at a minimum we didn't need any additional risks from myself.

I won't lie to you, I regretted a lot of things. Not moving to be with her, not taking my trading to the next level but all and all I got over it.

It's now 2010 and she graduates this May, just landed a job for June and we get married in August. Everything worked out.
I am also planning on taking my trading to the next level.

You can PM me if you want but I would encourage you to move but to go light on the trading full time. Off the top of my head, you could work on your trading with a sim account or get into options and trade income according to the greeks. That is good experience while you become adjusted down there and won't require you to use much of your savings.

Student loans are steep, she will be stressed enough and wont need to know you blew up you account by going for it. This will definitely be more of a sacrifice for you because your sacrificing for her...

:)
 
Quote from ij001:

Believe it or not, I had somewhat of a similar situation back in 2006.

My Fiancee had just started Dental school and I was working the desk at a small firm.

She asked me to move to Ohio to be with her but due to the lack of jobs I never did. I also wasn't ready to leave my job bc I loved trading so much. BUT I did decide not to take any crazy risks and stayed away from the guys who were. I felt at a minimum we didn't need any additional risks from myself.

I won't lie to you, I regretted a lot of things. Not moving to be with her, not taking my trading to the next level but all and all I got over it.

It's now 2010 and she graduates this May, just landed a job for June and we get married in August. Everything worked out.
I am also planning on taking my trading to the next level.

You can PM me if you want but I would encourage you to move but to go light on the trading full time. Off the top of my head, you could work on your trading with a sim account or get into options and trade income according to the greeks. That is good experience while you become adjusted down there and won't require you to use much of your savings.

Student loans are steep, she will be stressed enough and wont need to know you blew up you account by going for it. This will definitely be more of a sacrifice for you because your sacrificing for her...

:)
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Nice story, I'm glad everything worked out for you. Good luck on your wedding.
 
Quote from illinimatt81:

+1. You can always say you were looking for work and the economy was bad, etc. No one needs to know about your trading if it doesn't work out. At least you would know you gave it a shot.
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+2. Live your life in such a way that you never have to look back and say "what if" or "if i had taken that chance." when things line up like this you have to pay attention to it.

Regardless of the negativity on this board, people do make it trading....
 
Wow. All these traders without a shred of confidence in themselves. Trading is risky, life is risky, marriage is risky, love is risky.

The greatest risk is not pursuing your dream. You know in your heart what you want to do. Don't need confirmation from anyone on this website.

Just do it if that's what you want to do. If it doesn't work out -- oh well -- lesson learned.

Everytime I've taken a huge risk it has turned out for the better. May not have initially turned out how I thought it would -- but always opened doors to other paths in life.

You create your own reality. Create the one you want.

Kev
 
It is very simple. To become a trader, you must be willing to sacrifice all. Your family, loved ones, friends, even your life msut mean nothing to you in your quest to be a successful trader. This is the dedication necessary.
 
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