Hi Guys, I have a question (long). I was a prop equities trader a few years back for about 6 years. Did fairly well, best year was about 130k and after that died out and I got a few jobs which I hated. I left my job a few months ago to work on a business which has been slow, but is just starting to net a little money. Maybe like 1500 a month. The business requires a lot of capital and I have a partner. We were retail but we had trouble with the town/zoning so now we can only wholesale for most part. I am debating on whether to continue with the business on the side and go back to trading or accept a job for about 90 to 100k base in institutional sales (no commission 1st yr). I have about 55k Liquid cash (but 20 of it is in the business). My debt is low and my total expenses are about 750 a month. If I trade I only have to put down 5k and since I have a good relationship with the firm because I traded there in the past and have a good track record. Just to clear up I truthfully do not want to go back in the workforce and I am not crazy about the position, but I am finding it hard to turn down 100k. Also it would be about a 1.45 to 2 hour commute everyday give or take to the new job and would cost about 7k a year to commute and I dont want to relocate. I am also passionate about trading and feel I wanna give it one more shot and still do my business on the side, but I really feel quite torn here. Also I am not young in my mid 30's, but single no kids little responsibilities. BTW I was a prop intraday equities trader. I really never had a set strategy but i had built parameters and mostly traded what was in play and was very consistent for a few years. I am trying to get opinions from people in the same or similar situations. Also opinions from active traders who trade everyday for a living and dont have a second income or a ton of cash or inheritance. Would you take the job or go back to trading?
what happened after you turned "very consistent for a few years"? If I get that answer, I may be able to suggest something.
+1 Your situation is too complicated. Trading has probably changed alot since you used to do it. You may not be able to make any money for a long time while you learn a new strategy. Just be smart and take the job. In a year or two when you've saved up some more money and your business is doing better you can take another shot at trading.
How many hours at the job? Could you watch that market on the side and put some trades on your iPhone?
Funny answer from a Swift guy!!! But I understand your point. Why bother the stress, the pressure and uncertainties if you can make the same money slaving for a pimp. I have my rule, to choose between a job and trading, trading must provide at least double the money to account for the hassle. But dont get me wrong, a job can be much more stressfull and there is still a lot of downside to a job. Hard to decide for sure.
What a joke! Is that how you offer your 1 to1 "mentoring" to traders? You don't seem to have much confidence in yourself.
What are you talking about? I answered his question honestly and constructively, which is more than I can say for your contribution to the thread.
Hi Notes, Strategy was unworkable due to market changes... Adapted and still made money but wasnt as consistent.. At the time I had tied the not and a Job seemed like the right thing... Last month before I started the job I actually made 8k with zero money in my account just trafing a few stocks off my filter and my mgr was bagging on me for quitting for a real job.... I actually went back to trading after the first job, but I couldnt sustain it while being married... too much stress which I think added to me not trading well, because I was trading to pay the bills and that just didn't work...It was scared money With that being said ever since I have just been trolling here...
How many hours at the job? Could you watch that market on the side and put some trades on your iPhone? ----------------------------------------------------- Hours arent bad like 9-6 but the problem is the commute is like 1.5 hours each way and there will really no time to trade anything on the side, but I was thinking I could swing trade, which I dont have much exerience with... I have tons of experience reading tape/ecns and order flow and research and the like....