Changing from businessowner to trader

Discussion in 'Professional Trading' started by Sponger, Jun 16, 2006.

  1. Sponger


    I am looking to make the transition from owner/operator of a small business to full-time trader. I realize there is a long learning curve (years), and everyone follows their own path to become a competent trader (if ever), but I could use the help of EliteTraders out there, so here goes:

    Assume you have the following circumstances:

    1) You already have some background in the financial markets (Series 7, 63), tons of trading reading, and bad amateur trading (which you believe you are in the process of correcting!)

    2) You do not need to immediately live off of your trading, you have enough income to survive while you make the transition

    3) You want to create trading systems to trade mutiple markets and multiple timeframes and be mechanically oriented in your trading as much as possible

    4) You are mostly technical analysis based

    5) There is the possibility that you could commute into NYC daily to a firm for initial education, with the long-term goal of running a trading business from home

    Given this situation, are there any professional trading firms, trading educationl firms, specific courses, study-at-home packages etc. that you would recommend to meet this goal?

    Thanks for any and all feedback!
  2. keep your business and trade longer term until you become consistently profitable for at least a year and making at least double what your business makes.
    the grass is not always greener on the other side of the hill. sometimes there is a cliff.
  3. romik


  4. patoo


    Been the small business owner. Fallen over the cliff myself!

    There will be days when you would do anything to get the old job back: a-hole clients, lazy employees and all.

    Listen to vhehn much better approach
  5. myongsun


    No matter what, DO NOT QUIT YOUR BUSINESS!

  6. dac8555



    go full time without a track record of consistency and profitability.

    especially in this is tough going into the bear.

    keep your business, trade on the side until you are consistently making $10k month part time. it will take you years to achieve this more than likely.

    good luck.
  7. Sponger


    Thanks for the feedback everyone - this is a great educational website!
  8. Cheese


    Forget becoming a full-time trader.
    Stick with your little business.