When is the right time to quit your job and trade full time?

J

jinxu

A little history. I am a experienced trader. Went back into the work force a year ago to build up money. I already have a developed trading system going on. I work for the fed and dislike everything about my job and just want to quit and trade. Trading is my main passion. No family. In my 20's.

I can make more money by trading full time then working at my current job. My job is mundane and I feel like I'm wasting my brain power and soul on stupid office shit. My job duties and requirements conflict with any possibility of trading part time while working. I do not want to trade while working and there's so simple way to trade off a mobile as it's impossible to check it often without coworkers getting nosy.

I'm consider quitting and going back to full time trading. Good? Bad? Pros and Cons?
 
xandman said:
Trading isn't a waste of brain and soul? You better go to Gambler's Anonymous.
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Technically, trading would be LESS of a waste of brain and soul then working for my employer. I'm not a gambler either. I agree, trading is technically gambling.
 
Sounds like the work blues got you.

Then, create a plan where you go from part time to full time. Consistency should be the key where you can see your current cash flow from work becoming marginalized by trading profits. In the end, you will be putting more stringent lifestyle restrictions on your self because of the unpredictability of drawdowns which you have to budget for.

Just like any guy trying to grow a business out of the garage. it requires non-stop research and planning when your not busy trying to make your daily nut. In the long run, it will be a whole lot more work than being a 9 to 5er.

If you have a wife and child, get rid of them as they will only hinder your performance by causing unnecessary pressure.
 
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I would imagine we're around the same age, so if you want an opinion from one of your peers, no, it is not a good idea. Consider all the perks you'll be giving up. Medical benefits. paid vacation, sick and holiday. Retirement benefits. Consistent income. Trading for a living provides none of this. There's trading occurring 24/7. Trade your time off to supplement your income. Dont dedicate your life to staring at a computer screen in your room in your underwear. That's not any more glamorous than working a shitty day job.
 
Before even getting into all the nitty gritty details of whether it makes sense FOR YOU or not, the first thing you'll need is about a million dollars to trade with, and it has to be money you won't need for the next 5 years or so in case you suffer an unexpected drawdown.

When you factor in the long-term returns most traders actually make (which isn't as much as you think it is) then you take out taxes, then add all the benefits you'll have to pay yourself because your employer no longer does, then factor in how much you'll want to leave in the fund every year so your principle grows, you're not left with much spending money.

The number of people who make full time trading work on less than a million is very few and far between. Remember, this is a chat forum with anonymous hacks who pretend they know what they're talking about. You'll get people on this forum that tell you how they did it and it's easy etc... In the real world, with real verifiable trade returns and actual money at work, very VERY few people can do it.

it won't be long before this thread fills up with so called day traders living the dream. Ask them, if they wouldn't mind providing a verifiable track record, and watch how fast the crickets start chirping... :)
 
You're a healthy man in your twenties, with no responsibilities. You don't need vacation time, sick pay etc (the above poster has you down as an old, sick man!). Pack up the job and trade! You don't need a million dollars to trade with either...most people in your country would retire from their jobs if they had a million in their bank accts!

Give yourself a couple of years. If it doesn't work out, you can go back and work for the Fed, they have plenty of money to splurge.

The reality is, of course, that you hate your current job and you want to escape. You think that trading might be the answer, but it might not. You may be better off just looking for a job you would like to do.
 
jinxu said:
A little history. I am a experienced trader. Went back into the work force a year ago to build up money. I already have a developed trading system going on. I work for the fed and dislike everything about my job and just want to quit and trade. Trading is my main passion. No family. In my 20's.

I can make more money by trading full time then working at my current job. My job is mundane and I feel like I'm wasting my brain power and soul on stupid office shit. My job duties and requirements conflict with any possibility of trading part time while working. I do not want to trade while working and there's so simple way to trade off a mobile as it's impossible to check it often without coworkers getting nosy.

I'm consider quitting and going back to full time trading. Good? Bad? Pros and Cons?
More...

The time to follow your dreams is when you are young and only responsible to yourself. If you don't burn bridges on the way out, you might be able to return if it does not works out.
 
No foreign markets open that you could trade then you're off work? like evening 5pm-1am.

Consider systematic swing trading? You receive a long/short signal, open the position with fixed SL and PT, and it takes care of itself with no monitoring needed.
 
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