Nah that's B*S*. Why so much? How many "jobs" pay $200k+ Get real. --------------------------------------------------------------------------------------- Yeah right. Below are some stats from the latest census. I would say a home-based trader making between 100K and 200K annually is nothing to sneeze at, especially if you are single. Even more so if you are financially prudent enough to be debt free. ----------------------------------------------------------------------------------------
it depends on your expenses and if you are able to increase the distance between your current liquidity and your need to dip into your trading capital.
Sometimes though you have to think "what's the easier path to take" EG an oil trader with say Glencore.......any more "stressful" than day trading form home? One makes $100k per annum the other millions. So..chose a good path.
LOL, very naive. Let me explain--- if you are debt free, then by definition, your spending cash for everything--where does this cash come from as a full time at home trader? From your trading capital. So you are depleting the tool needed to make it as a trader --- obviously there are exceptions but generally-- add in taxes an unforeseen expenses, the only smart trader is one with a full time job who trades as a hobby or one who trades OPM. surf
Cash comes from earnings surf. Same place it comes from when you trade opm or have a job. You seem to be confusing working capital with net earnings. And no smart traders who do this full time with their own money? You must be phishing for a new article.
Either they are wealthy anyway, have other income or live like hermits -- but sure, they exist. I do need content, any ideas??
the first year I started trading again, I had 30k in the trading account and two years expenses in the bank. after a year and the account was down to 28k, I started trading es exclusively I realized I should probably do something, and got a job working the night shift at the local c store for $8/hr just to help pay bills. My first year trading ES I figured up what it would have been if I had worked 40 hours a week. (and keep in mind, I worked at it 100% of the time, every waking moment, and very often didn't sleep too well.) And it came out to almost exactly $8.00/hr so I was making $8/hr at night at the c store, and $8/hr during the day trading ES and back then out where I was living, $16.00/hr wasn't too bad. I probably lost a week off my life expectancy for every thousand dollars I made. The funny thing was, at the real job, they would just pay you no matter how bad business was. Some weeks when the snow was really bad, I wouldn't have a customer all night long, but every Friday I still got my full check. I would go to the bank and deposit it and think, "I wish trading could be this way."
You need to make a lot to be a trader. IMO trading for a living is sort of a rich man's passtime. If you're an average joe - where's the payoff? If you hate your job, just find another. Or change careers. I think too many people have pie in the sky fantasies about trading for a living. It's just not feasible for an average joe. You won't be able to make enough money. For an average person, I would view quitting your job to trade for a living as being akin to quitting your job to sell stuff on ebay for a living.
Although I agree with almost everything you said there are some skilled traders that have mastered the art of trading with very small stops, allowing them to use leverage to their advantage. These skilled traders do not fall in this consideration.