Am I Wasting My Time? The only correct and reliable answer is: you will only know that in hindsight. But even if you stop because you are sure you waste your time, you are never sure it was the right decision. As you don't know what would have happened if you would have continued. If people could see before that they are wasting their time, there would be no losers as they would even never start to trade. And that would cause problems for the winners too, as they need the losers to rob their money. Losers that wouldn't exist anymore...
Trading needs patience and discipline. You should spend time understanding the market trends and learning a trading strategy.
$200 a day on $100K is 0.2% not 0.002% 0.002% is 0.2bps, not 2bps ... can elite traders do basic math?
The information you provide isn't specific enough to attract the right answer from the right people. For example what instruments you have traded? What trading methodology you have used to trade those instrument? Trade holding period? Timeframes? Have you backtested? Is the backtest result profitable (positive expectancy)? Is the real-time/demo trading result close to the backtest result? Have you noticed hindsight of the trading methodology during real-time/demo trading? Etc. All of those questions are only from perspective of trading using chart. Imagine that you are trading not using chart like purely using market depth. Would not it be wasting time of other people who trade using chart to answer your thread?
Keep your "day" job and learn how to swing trade. I would never advise anyone to quit a steady career job in order to try to trade their own account full time. If you are doing so well swing trading to the extent that keeping your "day" job is ridiculous - then by all means go for it. If it's just about accumulating wealth - there are better ways to go about it than trading. Especially if you have a Tech background and training.
ironchef, Not when it pertains to trading. There is absolutely no free lunch in trading. All cost and time.