There you go, that's your answer. Last time it didn't work out and now you have to also run a fledgeling business alongside trading. As I said before, in another years time or so when your other business is up and running, making some decent income and taking the pressure off you can quit the job and make a real attempt at trading, with a much better chance of success. Be patient and wait for the best setup.. EDIT:- Apologies if I sound a little blunt. Thats just how I am
I think that you might need some additional time (i.e. money) before pursuing trading again full time, mostly because you have not mentioned another income source that you can rely upon (e.g. a spouse working full-time). That said, I do think that you should definitely pursue trading at the appropriate time (appropriate time being a very personal concept) if it is your passion. You clearly have a more open mind than many, as many are often content with working for others all their life. Some instead prefer a route that is riskier, but also potentially one that offers greater rewards.
Agree. Trade in the morning, work in the afternoon. Market is mostly untradeable in the afternoon anyway.
Here is my reply to a pm, hope it is helpful to you in deciding what time frame you want to trade. One edge fits all time frames. The only difference is how much time a bar represents: one minute, 5 minutes, one hour, one day, or one week. If you go to one month or more, you are looking at mutual funds and retirement funds. But some people may look at it in a different way: they tend to look at it as a pattern: head and shoulder, cup and handle, higher high-lower high, etc. Some unique aspects have to be considered if you reach a longer time frame. For example, if you use daily chart, you have to decide if you want to initiate a position in the morning or afternoon. You usually see higher volume at market open and market close. Those are the people who trade daily chart. If you hear about year end liquidation, that usually means the funds who trade yearly chart. They hold a position for a year and see what happens at year end. That's unimagineable for day traders.
Many guys I know who used to be 6 fig/mo beasts are just no longer in the biz whatsoever. I'd advise you to take the job. Trading isn't what it used to be. Quants have changed the intraday game beyond recognition. You have to take many times more risk for less money. I wouldn't advise taking any manual/visual approach to intraday trading. It's nothing like it was 5-6 years ago. If you must, throw 5k at it, try for a month and see. I'd say take the job, and trade on the side..