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xBoba
Registered: May 2011
Posts: 21 |
09-20-12 07:55 AM
How many of you guys here trade for a living? Just wondering what made you choose to make this your 9-5 job as opposed to having an actual job and swing trading on the side? And more importantly, what do you have laid out for you for the future? Do you plan on trading for the rest of your life? Do you have a plan B in case trading fails? There is no job promotions as a trader and writing "Day trader" as your past occupations in a job resume certainly won't give you any brownie points unless you're applying for an Investment company or something...
Trading for a living seems like a very risky "job" to take on. For one, cash inflow is extremely unstable and you could go broke in a matter of minutes. For the other, it seems like you're wasting your life in the sense that you're not really gaining any real skills/putting your skills to work like in a 9-5 job.
I'd just like to understand the mentality of those that trade for a living. What if one day you were wiped out completely. What is YOUR Plan B, then?
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optionbull
Registered: Apr 2012
Posts: 245 |
09-20-12 12:30 PM
Quote from xBoba:
How many of you guys here trade for a living? Just wondering what made you choose to make this your 9-5 job as opposed to having an actual job and swing trading on the side? And more importantly, what do you have laid out for you for the future? Do you plan on trading for the rest of your life? Do you have a plan B in case trading fails? There is no job promotions as a trader and writing "Day trader" as your past occupations in a job resume certainly won't give you any brownie points unless you're applying for an Investment company or something...
Trading for a living seems like a very risky "job" to take on. For one, cash inflow is extremely unstable and you could go broke in a matter of minutes. For the other, it seems like you're wasting your life in the sense that you're not really gaining any real skills/putting your skills to work like in a 9-5 job.
I'd just like to understand the mentality of those that trade for a living. What if one day you were wiped out completely. What is YOUR Plan B, then?
First, never have any position that can complete wipe out.
Next do whatever it takes to make money on the side while you build capital account.
Obviously, easier to just work for a operation such as bank or fund and get paid to learn..
Interesting to see how many respond to this... not many I bet
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danielc1
Registered: Aug 2002
Posts: 246 |
09-20-12 01:34 PM
Quote from xBoba:
Trading for a living seems like a very risky "job" to take on. For one, cash inflow is extremely unstable and you could go broke in a matter of minutes. For the other, it seems like you're wasting your life in the sense that you're not really gaining any real skills/putting your skills to work like in a 9-5 job.
Trading is a business and requires a lot of skills that are very, very real... Maybe not the skills you need when you work in a 9-5 job, hence, the reason why many can not make it in the real world of trading.
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xBoba
Registered: May 2011
Posts: 21 |
09-20-12 07:26 PM
There is no steady stream of income in trading, and there's too many uncertainties. If, for example, a person trades for a few years and decides to take a break in order to go back into the labor market, his skills have no doubt become rusty. Comparing himself with other job candidates alike, he certainly won't have the competitive edge the employer is looking for.
Trading for a living is basically like selling one's soul to the devil. But then again, those that trade for a living probably have their money diversified into other types of investments. Sorta answered my own question here haha
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jack hershey
Registered: Feb 2003
Posts: 7379 |
09-20-12 08:21 PM
Quote from xBoba:
There is no steady stream of income in trading, and there's too many uncertainties. If, for example, a person trades for a few years and decides to take a break in order to go back into the labor market, his skills have no doubt become rusty. Comparing himself with other job candidates alike, he certainly won't have the competitive edge the employer is looking for.
Trading for a living is basically like selling one's soul to the devil. But then again, those that trade for a living probably have their money diversified into other types of investments. Sorta answered my own question here haha
You may think you did but you just made another mistake on top of prior mistakes.
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