Well I'm finally done with daytrading. I have almost 10 years trading experience. I probably would have never become a trader if I could've found a decent job out of college. But then I got sucked into to trading propaganda. Then I got addicted to the action and the dream. Now that I know all of the shocking truths about the trading business I have no interest in it (especially not daytrading). I still have six figures in savings that I will deploy very rarely on very carefully planned trades. As far as getting a job, I think working in finance is out of the question as I am unemployable - I have no "work experience", no network, and no references. So I'm ineligible for any traditional office job. I've thought of starting an RIA firm but to make 50k a year I would need to raise at least $5 million under management and would have to do lots of cold calling and prospecting for years to even get to that level. I've tried driving for uber but ended up making like $7/hr. working nights and weekends. So I'm considering becoming a truck driver because as of now I see no other way of making at least 50k which is what I need to cover expenses. So daytrader to truck driver, that's the reality of daytrading. Any other work/job suggestions would be appreciated.
wow. Just reading ET and this is a very sad reading. Do you mind sharing more about your situation, why you are giving up, what you tried, etc... Not looking to change your mind, just trying to understand.
Also, it is my impression that you are limiting your thinking. If you were a very close friends, I would say to you: - you have 6 figures ? take $5k, leave the rest, take two years off and go travel the world - on an extreme shoestring budget.
Why not enroll in some kind of technology school or program where you won't need to lean on your network or connections. You'll come out with a real skill that will be in demand and probably pay pretty well.
How about a trade? Electrician, Pipe Fitter, Welder, etc., an apprenticeship will pay for your training.
This is why America is done for. You have 100k and you don't want to spend a penny on education? Do you have a degree? If not, get one. I assume you are young. Your lack of worth ethic probably contributed to your trading issues. Trading is VERY HARD work. THAT is the dirty little secret. That is the shocking truth. The fact you can't just slap a few moving averages on a screen or fade every move in the ES. No, it actually talks really really hard work. This will be a good litmus test for you. To see if you are even willing to work to get an education. Having said that, there are jobs in TX that pay guys 80k to 120k a year to work on rigs with a high school education. But again, it's VERY HARD WORK. Get use to hearing that phrase a lot.
You have a few hundred grand in savings and you were driving a truck for $7 an hour? Need I be the first to call this utter bullshit? Perhaps you should read this existential brilliance: http://elitetrader.com/vb/showthread.php?s=&threadid=281227
Note to all daytraders: If you find yourself in a similar boat, reach out b4 ten years are up. Oh, perhaps post a little more frequently about what is going on rather than just 10 times a year....