Going fulltime trading soon

Discussion in 'Professional Trading' started by innovest_11, Jan 23, 2009.

  1. Any fulltimers can give any useful advice to me, thanks, kind of scary...
  2. Whatever you do...don't look down.
  3. TraDaToR


    I would advise you not to turn full time until you have a decent edge i.e something that makes for sure no losing month and preferably no losing week. I waited 6 months of no losing week before turning full time in January 2008.
  4. I have been swing trading for 5 years, 1 year day trading, have recently 8 winning months out of 10 months, but still afraid that my mentality may change after go fulltime...
  5. I am full time due to unemployment haha. I have no advice except a month in I am kinda bored. Gym for an hour. GF bullshit for an hour. Trade for 3 hours. Sleep for 7 hours. Then there is so much time to kill, and I dont want to go back to being an alcoholic cause then I wont go to the gym lol.

    Maybe if I break it off with my GF I can chase tail 8 hours a day.
  6. I am about to go fulltime in the next month as well, and I am slightly freaked out about it.

    So much I dont know, still time to figure it out, but nonetheless, a bit worriesome.
  7. Tums


    have 3 yrs of living expenses in your saving account.
  8. Tums


    learn to trade HSI, so that you can trade 24hrs around the clock.
  9. Div_Arb


    Umm... Why don't you hold off until you feel more confident about things? With an attitude like that, your 8-ball is already sunk. Backtest your strategies until you have something that works. That is a great way to gain confidence.

  10. Ditto that...first couple of years will hurt...you'll likely lose money even with an edge...you'll blow out first 2 accounts...so don't sink all of your capital into it. Have 3 years of living expenses saved up, because it'll be then before your profitable...unless you're a prodigy and thats not likely (no offense, just the truth). Just remember the part about blowing out 2 accts...I did it before FINALLY getting a clue and a handle on emotions and so did a lot of others...the trick is to only lose THAT capital...not ALL your capital. If you have 100K to put in...do it 33K at a time...then after 1 year of success...then put in more...but always have that "rainy day" fund.
    #10     Jan 23, 2009