What salary would it take for you to quit this?

$135k base, 15-20% year end bonus
BlackBerry/Cellphone
Matching 401k
Pension
100% Health Coverage
Tutition Reembursement
Car service home after 9
Internet service at home
Laptop w/Verizon EVDO
 
IM brand new to this forum..found it on a google search.

I quit my job $250k yr to trade for a living back in May.

Been swing trading for years and doing quite well...been studying day trading and wanting to make this move for years.

So far I am making almost 50% more per month than I made 'working'. I only trade the morning and I call it a day once lunch hits at noon ( 9am cali time) so basically i have my entire day free.

Having started in May I got to pay my dues during that pullback and I didnt find playing a bear market much different than a bull..though the gains are smaller since we dont have those brilliant 300% run ups !...lol

This truely is the life. Im hoping to learn a lot on this forum.

J
 
Quote from Anunakki:

IM brand new to this forum..found it on a google search.

I quit my job $250k yr to trade for a living back in May.

Been swing trading for years and doing quite well...been studying day trading and wanting to make this move for years.

So far I am making almost 50% more per month than I made 'working'. I only trade the morning and I call it a day once lunch hits at noon ( 9am cali time) so basically i have my entire day free.

Having started in May I got to pay my dues during that pullback and I didnt find playing a bear market much different than a bull..though the gains are smaller since we dont have those brilliant 300% run ups !...lol

This truely is the life. Im hoping to learn a lot on this forum.

J
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Welcome to ET, many smart and successful traders post here you will definitly learn a lot enjoy your stay :-)
 
Quote from otcstockfund:

benefits as a trader:

health insurance is a write off
electricity/cable/phone write off
no social security/fica tax
no self employment tax
and most importantly i decide when I want to work

sounds good to me....only paid ~10% tax rate last yr
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Can you explain how you paid only 10% ? Thanks.
 
Quote from Anunakki:

IM brand new to this forum..found it on a google search.

I quit my job $250k yr to trade for a living back in May.

Been swing trading for years and doing quite well...been studying day trading and wanting to make this move for years.

So far I am making almost 50% more per month than I made 'working'. I only trade the morning and I call it a day once lunch hits at noon ( 9am cali time) so basically i have my entire day free.

Having started in May I got to pay my dues during that pullback and I didnt find playing a bear market much different than a bull..though the gains are smaller since we dont have those brilliant 300% run ups !...lol

This truely is the life. Im hoping to learn a lot on this forum.

J
More...

Occasionally, we run into somebody who is smarter and luckier than the rest of us. But it simply doesn't mean everyone should quit their day job to make it big. :-)
If it's that easy, noone works at all. (we wouldn't even have computers or internet or financial markets to trade.
 
Quote from Adobian:

Can you explain how you paid only 10% ? Thanks.
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Quote from midlifeguy:

Hi
I actually have 20 years experience, the past 8 as a buyside trader so saying I have only done this for 5 months is a little misleading. I have only been doing it on my own (not working for someone) for 5 months. I am making less but WAY HAPPIER. I was miserable in the corporate world..now the job offer I have is doing high stress trading again with non-stop phones from clients and advisors and no time to even use the bathroom. Potential is $100k a year. Is it worth it? I really don't know. My stress level in my last job burned me out and it wasn't the work, it was the idiotic micromanaging idiots that bossed everyone around.
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havn't read through all of this post to find out your decision but the way i see it is that you've already proven you have the skills to fall back on trading and earn a living from it. if you beleive that true...i would take the salary job and make as much $$$ as i could socking away as much as possible until i burned out and couldn't take it anymore. then i would return to trading with a healthy savings account from the salary.
 
When I had a job and was considering going out on my own (pro gambler) I wanted to make 2x the old salary to make up for benefits plus the opportunity cost of losing my former career.

But now that I'm established, I wouldn't go back to a str8 job for 1/2 my income now. I'm too spoiled by the self-employed lifestyle to go back.

Now it would have to be a very attractive offer. 2x my current income with no risk might tempt me.

Traveler
 
Quote from Adobian:

Occasionally, we run into somebody who is smarter and luckier than the rest of us. But it simply doesn't mean everyone should quit their day job to make it big. :-)
If it's that easy, noone works at all. (we wouldn't even have computers or internet or financial markets to trade.
More...

For me personally I think its a much different situation than most.

I made very good money as a CEO and by the time I left to day trade I had enough 'risk capitol' that I can play for 1 or 2% gains and make big money.

I understand how fortunate I am in that and I dont think most people should quit their career to day trade :)

I do have to say that its pretty easy to make 2% a week...at least it has been over the past few months. Today I caught that tale end ride on ZVUE for a hefty profit. Of course anyone could say that so take it with a grain of salt.

J
 
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