Is there anyone out there who supports their families solely on daytrading, can this be done? I've been is the trading world for 15 years the last 5 as a marketmaker. Isaved some money but I cant live off it, I need to still make a living like anyboby else. I know psychology is abig part of it but its easier said than done.Is there anyone in a similiar situation and can you share your thoughts please.
I,ve been trading since '94 and some of the time with a 250,000 dollar account and I have never made enough to live on. My best year was +24k and my worst year was -13k (all lost in two day sell off).
if you MUST win, you wont.. if you put too much pressure (financial) on yourself it will be difficult to put that out of your mind and trade from a peaceful perspective.. im a single guy and was full time trading for 3 years.. i couldnt imagine what it would have been like if i had been worrying about a family too.. now i have a day job and trade at night.. knowing that i dont need the money makes a tremendous difference in my perspective.. -qwik
I think trading is like any other profession - there are people who are good at it, and people who are not. There are people who make A LOT of money, and people who do not. I think it is all about finding what works for you, and having the focus to execute day in and day out. So, to answer your quesiton, yes there are people who do this and support their family and have a lot of money left over!
thanks for the feedback, many good points made. I was successful at maketmaking but its diffrent than daytrading.I know how to trade but that added pressure makes some diffrence.
FYI - I missed the "daytrading" part. I thought you meant trading in general. I do a combination of daytrading and swing trading. Best of luck.
I know a guy who hasn't had a down month for the last 3 years, with the worst month being up at least 10K. He trades full time and supports 2 families.
I think trading falls into the 80-20 rule. 20% makes 80% of the money. If it was easy everyone would be doing it.