Working 60 hours a week or working 2 hours a day?

J

jinxu

This has been on my mind for awhile. I'm still in my twenties. I have a good job and doing trading part time.

The problem is that I trade after I get off work and it's exhausting. I'm too tired most of the time to even concentrate. My system is day trading based. I don't swing trade. I can make enough money by trading alone. But to do that I would need to quit my job so I can dedicate more time and more focus into it.

But what keeps me from quitting my job is the stigma of going back in the future and having done nothing but trading. I'm still relatively young. There's always the risk of totally blowing up everything in the future. And what would I say to an employer about being a trader if that happens. I like my job but the hours are getting too long and it's affecting my trading.

What should I do?
 
Automation is not possible with my style of trading. I have to be there in the front line to make sure everything is going as plan.
 
you have a very valid concern. 95% of people dont make money. Even if you make money, you will make money say 9 months and will lose 3 months. It might be hard to lose 4k, 8k or 10k in a month, when comparatively you could be making 4k, 8k or 10k in your job without any risk.

Society will ask questions, your girlfriend your friends, your parents everyone.

So, know thyself before quitting. Can you take the criticism for years and still if all fail - you will have to face this social circle for rest of your life being branded as a loser.

Best solution imo is to start swing trading daily charts. They are easier to trader than intraday. Reasons - comm/slippage as a percentage of profits lower. Your win:loss could be better. Average trade would be higher. Swing is the way - brokers encourage you to do intraday because they get higher commissions from intraday.
 
shorterm trading markets change often.

if you think you can make a fortune if current market persist for a year, then go ahead.

else edge will fade and you will be with no job and no edge and no money in 2 years.

i do swing trading and work and shooting for stars (large bets - for me) I need good markets to take off. So do you.
 
You're in your 20's? Don't quit your day job. As another poster said, move towards swing trading, and you will have the benefit of supporting your trading habit with regular income. The grass always looks greener on the other side, especially when you are working 60 hours per week. Keep your job, lengthen your trading time horizon, and save, save, save! Get married, have kids, buy a house (all that good stuff), and then pay it off - that is, become debt free. Once you have attained that status, then consider trading full-time.
 
Quote from jinxu:

This has been on my mind for awhile. I'm still in my twenties. I have a good job and doing trading part time.

The problem is that I trade after I get off work and it's exhausting. I'm too tired most of the time to even concentrate. My system is day trading based. I don't swing trade. I can make enough money by trading alone. But to do that I would need to quit my job so I can dedicate more time and more focus into it.

But what keeps me from quitting my job is the stigma of going back in the future and having done nothing but trading. I'm still relatively young. There's always the risk of totally blowing up everything in the future. And what would I say to an employer about being a trader if that happens. I like my job but the hours are getting too long and it's affecting my trading.

What should I do?
More...

If you don't have kids, aren't Married , don't own a house and are in your twenties. Give it a shot, but I'd try to find a home or part time job as well....cmon meng 20 yrs of age.....you have a lifetime of fuckups which you can always come back from..good luck
 
You're in your twenties quit imo. Only thing that would keep you from quitting is your pride.

You think steve jobs was worried about what people thought of him when he started building computers in his parents garage? Doubt it. Take a shot. Most success stories contain some kid of failure. If you fail learn from your mistakes ,whatever they maybe, but don't let that keep you from taking a shot at it.
 
I would be cautious about giving up a good job. They're not that easy to find these days.

Given your age, you can't have been trading too long. Your success therefore has come in a very favorable market environment. I would be careful about gneneralizing too far into the future from results obtained in an historic bull market.

Just my .02. If trading is your overriding passion, you'll find a way.
 
Keep the odds in your favor, IMO. Keep your job and continue to trade part time or trade longer time frames.

I am somewhere between an investor and a swing trader and I work full-time. I will guarantee you that I make more than 97% of the "traders" on here because I have a job and trade longer time frames. Not to mention I'll still be making money in 10 years and even a lot of successful short term traders won't be performing well that far down the road.

As someone else mentioned commissions and slippage are very low for long term traders.
 
You must log in or register to reply here.
Back
Top