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

[londonkid]

As you are in your 20s whatever you do make sure you have sex with as many different attractive women as possible. Make sure you do plenty of travelling and experience different cultures. Try working in Asia/Europe. Above all be adventurous and dont look back. You do not want to wake up in your 40s and think shudda wudda cudda.

my 2c.

 

[loyek590]

Gotta love trading, be your favourite thing to do ? Yeah ??
You just gotta be profitable, it can be quite a lucrative activity but it's easy to figure out dozens of more interesting ways to spend one's time.

name one. I don't have to trade anymore if I don't want to. What is your "more interesting" way to spend your day, or your life?

 

[loyek590]

As you are in your 20s whatever you do make sure you have sex with as many different attractive women as possible. Make sure you do plenty of travelling and experience different cultures. Try working in Asia/Europe. Above all be adventurous and dont look back. You do not want to wake up in your 40s and think shudda wudda cudda.

my 2c.

no kidding, I married the most exotic woman in Indiana and we moved to California, and then I saw what "exotic" really was.

all I knew is she wasn't like my mother, and that was good enough for me

When I got out to California the whole State was filled with exotic women who where nothing like my mother

 

[loyek590]

I've done a fair amount of travelling, and when you first get to a new city all the women look beautiful. But when you hang out there for a while, you find they are exactly like the girls back home. Or maybe I am the same as when I left home.

 

[jinxu]

Jinxu, I don't understand why you want to trade if you think it is gambling. If you know how to trade, it should not be gambling.

I think anything with low probabiliy of success as gambling. The only way to overcome anything with low odds is to have some kind of an edge. I consider successful trading as gambiling with an edge.

during the glory days of the 1990's, a lot of baby boomers were making more in their 401k and personal brokerage account than they were working their real job. and that's where this idea of "prop firms", "day traders" came from.

I'm not concern with bulls or bears market. I think my system is robust enough to accomodate both...

so, do you really want to give up your nice secure job with benefits to become a gambler?

Yeah, why not? I'm not saying I'm about to do it. But it is in the plan someday.

Nobody ever made it big in this world not taking a risk/playing it safe.

True words. And definitely contradicts the "no old bold trader" statement.

As you are in your 20s whatever you do make sure you have sex with as many different attractive women as possible. Make sure you do plenty of travelling and experience different cultures. Try working in Asia/Europe. Above all be adventurous and dont look back. You do not want to wake up in your 40s and think shudda wudda cudda.

Word. I used to be like that. But a 9-5 job really sucks the adventure out of you.

 

[luisHK]

name one. I don't have to trade anymore if I don't want to. What is your "more interesting" way to spend your day, or your life?

Watching a movie for a start is more interesting than watching the quote screen.
Driving a car ( outside downtown)
Snowmobiling
Swimming
Getting laid
hanging out with friends or family

etc etc...It soon gets boring to look at the markets on the computer.

Some considerable perks to trading compared to other business endeaviours are the easy access to credit through leverage and the ability to keep one's investments very liquid but setting up a business with more human interactions is both intelectually and socially much more rewarding ime.
Besides beeing unable to make a decent living outside trading might not be a good omen to ever become a profitable independent trader, one interesting poll would be to check how many of the members on this website making decent coin trading also have a succesful history in other professional ventures.

 

[jinxu]

Sorry -- I re-read your first post -- you say "going back to trading", so I guess you've already done it and know a bit about what it is like and been through the 'go for it !!' experience. For me, if I had good confidence I could make it, I'd do it -- but only because I really dislike interacting with people, in the past I didn't even like my friends when I had them. A job which nowadays is 50% - 90% interacting with people is like being in the dentist's chair all day ...

I dislike interacting with people too. However, I'm pretty socially savvy. I have to do a lot of 'sucking up' to the big people just so I can do my job. Especially to the secretaries for my bosses. If I didn't have to spend so much time sucking up I might be able to actually get work done quicker.

 

[Fundlord]

Watching a movie for a start is more interesting than watching the quote screen.
Driving a car ( outside downtown)
Snowmobiling
Swimming
Getting laid
hanging out with friends or family

etc etc...It soon gets boring to look at the markets on the computer.

Some considerable perks to trading compared to other business endeaviours are the easy access to credit through leverage and the ability to keep one's investments very liquid but setting up a business with more human interactions is both intelectually and socially much more rewarding ime.
Besides beeing unable to make a decent living outside trading might not be a good omen to ever become a profitable independent trader, one interesting poll would be to check how many of the members on this website making decent coin trading also have a succesful history in other professional ventures.

If I woke up tomorrow with $100m in my bank I don't think I would quit trading, I feel a rush when I plan my trades, execute and watch them play out. The dopamine kick is there I can feel it.

Why does Lebron james keep playing basketball ? he's made more money than hell ever need.

Why do billionaires keep working ?

Why does beyonce still sing with hundreds of millions in the bank ?

Its the love of the game that separates the winners from the losers. Without it, it would be way too difficult to go through all the things that traders do on a daily basis.

This video sums up what I mean

 

[loyek590]

I hear ya, I had a very good corporate job, but I felt like a slave, because they paid me the same each month, profitable or not. But in retrospect, quitting that job was the worse mistake I ever made. I could have traded just like I do now on the side. But you know, I was young and had to prove to myself and my father in law I could make it. I made it, but not without doing a stint at Dominoes Pizza and the C Store. Whatever self respect I ever had was surrendered during those years, other than the fact that today I can say I was willing to do whatever it takes.

Watching a movie for a start is more interesting than watching the quote screen.
Driving a car ( outside downtown)
Snowmobiling
Swimming
Getting laid
hanging out with friends or family

etc etc...It soon gets boring to look at the markets on the computer.

Some considerable perks to trading compared to other business endeaviours are the easy access to credit through leverage and the ability to keep one's investments very liquid but setting up a business with more human interactions is both intelectually and socially much more rewarding ime.
Besides beeing unable to make a decent living outside trading might not be a good omen to ever become a profitable independent trader, one interesting poll would be to check how many of the members on this website making decent coin trading also have a succesful history in other professional ventures.

"Getting Laid"? When money is no object you don't "get laid" you "buy laid" and it gets boring for me. Hobbies and family are good for old men, a call or a visit or even an email from my kids are better than any trade. I can only spend so much time on my hobbies (cooking and growing pot.)

I love trading, it's my favorite thing to do (hence all the crazy posts Sat and Sun when the market is closed.) I still take a little money from my account each month, but it's only to pay for cigarettes groceries and beer. And I can do without any of those during a drawdown.

I aint gonna lie to you, it was hard when I had a wife and kids and you had to look her in the the eye when she asked, "So, how was your day?" And tell her everything was fine (and you know what kind of day most traders have.)

other than my kids and the strangers I talk to on the internet, I really don't like people, so trading is a good hobby for me.

 

[luisHK]

If I woke up tomorrow with $100m in my bank I don't think I would quit trading, I feel a rush when I plan my trades, execute and watch them play out. The dopamine kick is there I can feel it.

Why does Lebron james keep playing basketball ? he's made more money than hell ever need.

Why do billionaires keep working ?

Why does beyonce still sing with hundreds of millions in the bank ?

Its the love of the game that separates the winners from the losers. Without it, it would be way too difficult to go through all the things that traders do on a daily basis.

Says a winner...

Well if it can help confort you I also wake up everyday with significant assets in bank accounts and elsewhere , and although far from Beyonce's it's enough to take a pretty confortable early retirement , but still keep trading.
Yet it is very far from passionate, and there are more interesting ways to make money (yet no better way for me at the moment, hence it has become my main source of income lately).
You need to get your act together more than being passionate to be succesful, most businesses turn into a routine (which is one of the reasons Beyonce and most billionaires i'd suspect, set up new ventures )