this is a good point...pressure of havin' to make money for necessities via tradin' can be hard'n'maybe impossible to take for some: am sure wud be tough for me...think 'bout it.
hey all, thanks for the solid advice. This is helping me out a lot. I guess I should've elaborated more on WHY i need to quit. Been living in an isolated, rural area for the past 3 years. I only came here for the job. This is no place where I'd want to settle down. Not a very happening place for younger, single folks. Been living in a tiny studio apartment this entire time, which has allowed me to save up like crazy. Not willing to spend any $$ here since it ain't worth. Need to move near a big city, where it don't snow, and I can finally get a nice place, better car, more opportunities to meeet women, etc.. .simple as that. I aint getting any younger, 30 just around the corner
I hear ya. I'm trading full time for the same reasons. Not a "get rich or die trying" kinda guy but you can't blame a guy for wanting a nice house, nice family, and a beautiful wife. Those primary human objectives are hardwired into us after all. That and when you consider the amount of study and work you do as an EE, and how underpaid the work is compared to what you could do trading, the choice is easy. Travel the country, find your place, settle down, be happy. A happy trader is a successful trader, and vice versa.
I'd suggest you get another job in a big city. I left one job for another a year ago. The new job ended up being the wrong move as the hours were crazy, and the place was a revolving door. I hated it and didn't pay that much anyway so I left to pursue my dream of being a trader. So far I would've been much better off financially if I had just continued working. On the positive side, I've learned more about economics, finance, politics, risk, and psychology from trading than I could have doing anything else. You sound like you have doubts about your trading, and if thats the case - I wouldn't start trading full time. If your account is up several hundred percent without using too much leverage, your performance is consistant, and you have no doubts about your trading ability then I would consider trading full-time. Even then I'd consider starting a fund, building a record, and raising capital - so that you'll never be in a position where you're undercapitalized and you have to trade aggressively to make money and pay expenses.
HAH! You must live in San Jose, CA, huh? Not much selection of women here, I'm afraid, glad I moved to this place married. Seriously though, I'm an EE as well and have been working this industry for 8 years now. Got a nice degree and a company that respects me, and that goes a long way. Most of my attention is on the markets, as that is where the disproportionate amount of my income comes from. Still, sitting at home or in a private office all day wanking off to the ES isn't really my idea of living well. If you like your career, why don't you try moving to another area for the same type of job? Even if you have stacks of G's lying around, it sucks to be cut off without a job and the isolation itself will drive you mad. Trust me, been there, done that My two cents. RoughTrader
I took a 3 month leave under the FMLA (Family Medical Leave Act). My Dad had some surgery so I used that "reason" for requesting the leave. I then traded those 3 months. At the end of the 3 months I requested another 3 month leave. My Dad had a minor heart attack near the end of the 1st leave. They granted the 2nd leave but it was a personal leave and I'd not be guaranteed a job at the end of the 2nd 3 month leave. I took it, traded those next 3 months and never looked back. They offered me a position after the 6 months but I declined and left. That was 10 years ago. If there's any way to get a 3 month leave I'd sugest you pursue it.
Hi rimshaker, How long have you been having success in trading? I ask because for long term trading, a few years pf profitability does not mean as much compared to daytrading. This is not to say daytrading is better, but just that there might not be enough trades to show that you have an actually edge. For example, you could be riding on the commodities bull, but what happen after that? You are in a best position to judge yourself whether you think you have "proven" yourself to justify leaving your job. After all, if working does not affect your trading at all, why change that? You get more chances to meet your future wife if you continue working... Just my opinion.
ok - I was assuming you daytraded or wanted to. So essentially, the question is one of you not ENJOYING your job - not that you aren't able to focus on the market. Keep your job until you have enough money to not need it. Pretty simple decision!!