When is the right time to quit your job and trade full time?
- Thread starter jinxu
- Start date
Hi Jinxu,
I think the only person that can answer this is you. Stuff like trading, sports, nutrition is very individual in my oppinion. Even simple stuff like drinking water is different from person to person. If I ask you how much water I should drink every day, I might get a good answer, but maybe not the best advice for me.
This is not like buying a refrigerator, where you have a few technical facts and can ask people about those, and then make your decision based on these information. You want to make trading a main part of your life, and the main source of income for your life. If you are really able to do this, and if it will be good for you... only you can really answer this.
One of the most important things to me is that things should feel good, "right". Sometimes I do things that other maybe consider stupid, but they feel great and right for me, they improve the quality of my life, so I do it. But it is maybe completly different, even the opposite for another person. So my advice is, really reflect very much about yourself, your own life, where you came from, where you are, where you want to get... and think how your trading fits into this picture. Even think about the little details, think about how you will eat your lunch at your trading desk, try to really imagine yourself in your new life, and try to imagine how it feels.
If the things you see and feel are nice, if your vision is a great one, if everything matches, you have enough capital, your trading record is consistent, you are very confident and you have fun, love and passion with what you do... then I would really go for it 100%.
Greetings,
CALLumbus
I think the only person that can answer this is you. Stuff like trading, sports, nutrition is very individual in my oppinion. Even simple stuff like drinking water is different from person to person. If I ask you how much water I should drink every day, I might get a good answer, but maybe not the best advice for me.
This is not like buying a refrigerator, where you have a few technical facts and can ask people about those, and then make your decision based on these information. You want to make trading a main part of your life, and the main source of income for your life. If you are really able to do this, and if it will be good for you... only you can really answer this.
One of the most important things to me is that things should feel good, "right". Sometimes I do things that other maybe consider stupid, but they feel great and right for me, they improve the quality of my life, so I do it. But it is maybe completly different, even the opposite for another person. So my advice is, really reflect very much about yourself, your own life, where you came from, where you are, where you want to get... and think how your trading fits into this picture. Even think about the little details, think about how you will eat your lunch at your trading desk, try to really imagine yourself in your new life, and try to imagine how it feels.
If the things you see and feel are nice, if your vision is a great one, if everything matches, you have enough capital, your trading record is consistent, you are very confident and you have fun, love and passion with what you do... then I would really go for it 100%.
Greetings,
CALLumbus
If everything what you stated is correct you should quit your job yesterday. And do not ask anybody what they think !
This whole needing to have a million dollars to trade is complete nonsense.
agree
"This whole needing to have a million dollars to trade is complete nonsense."
Starting with a few assumptions:
1) You won't make more than 10% a year in the long-run. Anybody who says they do should promptly provide a verifiable track record, and longer than 5 years since everybody and their dog made more than that in the last 5 years so that doesn't count. My guess is nobody here will. Feel free to prove me wrong and provide long-term proof
2) If you make 10% a year, that's 100,000 trading profit
3) Deduct taxes
4) Deduct all other expenses you'll need to pay yourself now that you have no employer to pay them for you
5) Deduct an amount you want to keep in the fund each year, so the principle actually grows.
What's left? 50k at best, probably closer to 30k if you leave something significant in the fund. Awesome, 30-50k a year spending money. BIG PIMPIN !
So, if you're doing it with less than 1 million to start, that means you're going to have to have really high returns year in and year out, forever.
* and not just in the great bull market of the last 5 years, it means FOREVER, in all market conditions including all your bad years as well.
** It also means starting TODAY, in 2015. The past bull market doesn't help you now. Stocks already at all time highs, you think you'll make 10% a year forever starting today so easily?
Again, provide a track record if you think that's easy
Starting with a few assumptions:
1) You won't make more than 10% a year in the long-run. Anybody who says they do should promptly provide a verifiable track record, and longer than 5 years since everybody and their dog made more than that in the last 5 years so that doesn't count. My guess is nobody here will. Feel free to prove me wrong and provide long-term proof
2) If you make 10% a year, that's 100,000 trading profit
3) Deduct taxes
4) Deduct all other expenses you'll need to pay yourself now that you have no employer to pay them for you
5) Deduct an amount you want to keep in the fund each year, so the principle actually grows.
What's left? 50k at best, probably closer to 30k if you leave something significant in the fund. Awesome, 30-50k a year spending money. BIG PIMPIN !
So, if you're doing it with less than 1 million to start, that means you're going to have to have really high returns year in and year out, forever.
* and not just in the great bull market of the last 5 years, it means FOREVER, in all market conditions including all your bad years as well.
** It also means starting TODAY, in 2015. The past bull market doesn't help you now. Stocks already at all time highs, you think you'll make 10% a year forever starting today so easily?
Again, provide a track record if you think that's easy
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general discussion about general things, and immediately somebody calling to compare sizes of the penises
what is it kindergarten?
if you want to make a statement that you do not believe in making more that 10% a year in the long run - make statement...
and that's all
nobody comes here to proof if you are right or wrong
what is it kindergarten?
if you want to make a statement that you do not believe in making more that 10% a year in the long run - make statement...
and that's all
nobody comes here to proof if you are right or wrong
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I think it would be better to switch jobs to one where you can trade on the side vs. quitting to trade. Think about the business side of it. Good business people want returns with minimal risk. If you have a trading service you could offer, that can be a good start. Get a side biz going on the sly - if u can do that, u are moving to a winning position vs. a desperate position.
Also, some side businesses are a good fit with trading. For example, if you aced the SATs, u can make decent side money tutoring in the afternoons.
Also, some side businesses are a good fit with trading. For example, if you aced the SATs, u can make decent side money tutoring in the afternoons.
"This whole needing to have a million dollars to trade is complete nonsense."
Starting with a few assumptions:
1) You won't make more than 10% a year in the long-run. Anybody who says they do should promptly provide a verifiable track record, and longer than 5 years since everybody and their dog made more than that in the last 5 years so that doesn't count. My guess is nobody here will. Feel free to prove me wrong and provide long-term proof
2) If you make 10% a year, that's 100,000 trading profit
3) Deduct taxes
4) Deduct all other expenses you'll need to pay yourself now that you have no employer to pay them for you
5) Deduct an amount you want to keep in the fund each year, so the principle actually grows.
What's left? 50k at best, probably closer to 30k if you leave something significant in the fund. Awesome, 30-50k a year spending money. BIG PIMPIN !
So, if you're doing it with less than 1 million to start, that means you're going to have to have really high returns year in and year out, forever.
* and not just in the great bull market of the last 5 years, it means FOREVER, in all market conditions including all your bad years as well.
** It also means starting TODAY, in 2015. The past bull market doesn't help you now. Stocks already at all time highs, you think you'll make 10% a year forever starting today so easily?
Again, provide a track record if you think that's easy
He said he was going to quit his job to TRADE for a living not invest. Living off investments you would need 1M+. If you have an edge, trading it is possible to make it on much less.