i graduate next year. but the thing is i already got a well paying job which i start on thursday. last night i realized, i wont be able to trade and watch the markets live. i mean, this is the most critical time of my career as a trader and I am definitely becoming better at it. there is no way i will be able to follow the market at work. All of a sudden stopping now would bring me back to square one. the other thing is i will be able to save up money since im living with my parents to trade. i hthought maybe i should not take the job. even once i start working, i will have to quit to trade and see how well i really do. i will get 10 days off during the year, but thats not enough to decide if im day trader material. guys, i couldnt sleep till 2am just thinkin about this. i do not want to join the corporate world. i have seen my father working as an engineer and saving little by little do have enough. i do not want a life like his. Just the very thought of it makes me lose my hair. anyway, guys, im counting on you for some serious advise on how i can still keep my skills sharp, and how, after i have actually saved money will i trade? thanks
Prince of the Pit Richard J. Dennis, a former commodities speculator known as the "Prince of the Pit," was born in Chicago, in January, 1949. In the early 1970s, he borrowed several thousand dollars and reportedly made $200 million in about ten years. Dennis graduated from DePaul University with a BA in philosophy. He had accepted a scholarship for graduate study in philosophy at Tulane University, before changing his mind and returning to the Chicago Board of Trade.
You can still trade and work a day job, there are other markets besides the US equity market. You can swing trade stocks if you want. How about the Hang Seng? It opens at 9:30 ET, I traded that little beast for a little while. Much too volatile for me, but a few guys on the board seem to like it. There is also the Dax, and of course the Global currency markets which trade continously. You still have ways to get exposure to the markets. It is probabbly best that you work and save money while you can. Trading for a living is tough , and if you can have a steady job and still do a little trading in other markets it might even be a better way to go about it until you can save up a nice bank roll.
Since you willingly accepted that other job, you weren't really interested in day trading to begin with.
i had to accept the job because i dont have enough money to trade with for a living. i mean, i will be an energy trader. it's not thaaaaaaaaaaaat bad.ill be making around 70K. but i would rather work for myself. but i need to save cash to do so. my only concern was that whatever i have learnt till now might go waste and after i quit my job, i dont want to be at square one and start losing money.
I'm 23 years old and just about to graduate and I've decided to give trading a shot before going job hunting. I mean, what do you have to lose, worst comes to worst, you'll just re-apply for jobs in a year if things don't work out. The point is, you'll never have this chance again. As you get older, you'll move out on your own, and start building up more expenses, you won't have the flexibility to just quit and risk losing all you rmoney day trading, but at this point, you can. I say take a shot at it, if you don't make it, at least you'll know you tried. Good luck.
I think you will become a better trader by working the job. Look at this page www.pinoytrader.blogspot.com. This guy works a full-time job and trades. Think out a plan on how you can trade and work at the same time. Do you really have to watch the screens every second of the day to make a profitable trade?
You're a fool if you do not accept that job. It's a way into one of the more lucrative markets. You should be grateful you're even getting that chance.