How to work towards going full time

fordewind · Feb 20, 2018

Handle knows

slugar · Feb 20, 2018

Handle123 said:
Often times people have the wrong jobs they have to start, they took them cause they paid right amount of money and that weighed more than enjoying what you are doing. Then you doing it a number of years of doing crap you now hate with every ounce of your being-so you are going down mentally or perhaps you physically can't do it-that was my case, I just couldn't lift any more. But I prepared myself for this outcome, I saved up 3 million, had rental properties that had positive nets, but one month of no rent, guess what, you have to keep paying the mortgage but I had that figure too, insurance, everything I could think about so when I quit, I was pretty much set to change careers to trading. The one thing I didn't count on, after few months, trading can be incredible boring. My last job of 17 years, overall, I actually loved, yea times of doing something you don't like, but overall it was pretty good. I didn't want to put in for disability, as I knew I could still do other things I had went to school, and I knew all those jobs I would hate. But the boredom of sitting there in 1999, minute by minute was compete drag, making money was no longer a joy, it was a mental commitment to do it each day, now had to go to a gym to workout whereas before never did, work was like a gym, you just didn't have anyone like this forum never found back then to spend time, make friends, at 43yo, and you not made many friends other than former job, you are so screwed. At some point I couldn't even enjoy dating, but I was making money in the Big S&P 500 cause the ES just didn't have the volume yet and I had gotten use to calling the floor, you get set in your ways in life and you don't realize that.

Friend of mine came by and asked if he could park his truck out front, yeah, sure, didn't know it was 75 feet long, yep truck and trailer, and he was one of the best day traders I knew, showed me his set up and stayed for a week showing me how to trade from a truck, it no different than at home, I was hooked, took training and went driving till I got ill in 2008, have over one million safe miles under my belt. You make your own rules so long as you get there in time, companies don't care and I still did what I did at home, just new scenery each day and often forget where I was when I woke up. It not for 99% of people to be a gypsy of sorts, but I never really fit into most crowds, you have to come to terms of who you, stop lying to yourself too, know your limitations is huge. And I do miss being on the road, meeting real people in real small towns. Come home when I needed a break. Of course am single and unable to have children, some say I am lucky, but never saw it this way, thinking too old at 61yo to try for that, can't see having diapers into my 70s nor playing football and tossing the ball without getting surgery on shoulder. But I could teach them how to make a living after college, always good to have options.

Couple of Neuro surgeons once told me that trading was the hardest careers they ever failed at, most likely only other career they tried for several years. You have to build a Trading Plan that takes years, then even worst, you have to be able to trust it.

I think it important to keep having challenges, make new directions, change is good if you prepare for them, and really expand your circle of distance, there is so much in the world we have not seen, so grab your laptop and whether you love developing systems in my case or manually trading, book a flight, cruise, train and just go. Maybe I will find my best friend that happens to be a woman that way.

Was it worth it, tough to answer, many have already said how much time they gave up to become decent trader, and if you tire of manual trading and know a very good programmer, start a partnership and go bigger with automation, start a Hedge fund after that, keep expanding till you find what you love to do.

Just remember, money is a Tool, it pays the bills and it is collectable, tools have a proper place and happiness still comes from within.
More...

Amen to that handle! I've been trying to figure out this trading game for a long time but I don't need to succeed at trading to be happy Just my wife three kids and two grandkids is all I need ! Feel extremely blessed and yes happiness is a state of mind

lawrence-lugar · Feb 20, 2018

slugar said:
I've been trying to figure out this trading game for a long time but I don't need to succeed at trading to be happy

Just my wife three kids and two grandkids is all I need
More...

Money is definitely not everything. -- There are certainly alot of depressed, successful millionaires out there.

But it's way, way, way more easier to be happy...if you have a nice exotic sports car in your garage, no outstanding debts of any kind, and a 1,000 steaks and chocolate muffins in your home ,

slugar · Feb 20, 2018

lawrence-lugar said:
Money is definitely not everything. -- There are certainly alot of depressed, successful millionaires out there.

But it's way, way, way more easier to be happy...if you have a nice exotic sports car in your garage, no outstanding debts of any kind, and a 1,000 steaks and chocolate muffins in your home ,
More...

I agree it's nice but it will never make you happy unless you are happy before you become wealthy

vanzandt · Feb 20, 2018

lawrence-lugar said:
Money is definitely not everything. -- There are certainly alot of depressed, successful millionaires out there.

But it's way, way, way more easier to be happy...if you have a nice exotic sports car in your garage, no outstanding debts of any kind, and a 1,000 steaks and chocolate muffins in your home ,
More...

Exotic sports-cars are for insecure tools.
Buy your wife a brand new white Mercedes sedan every couple years or so...while you drive a beat up 10 yo F-150... be a stud LL.
Make studliness great again 2018.
High 5.

murray t turtle · Feb 20, 2018

fan27 said:
What about keeping your day job while trading the daily timeframe. With your good paying day job combined with trading gains you could potentially build up substantial capital in a few years time.
More...

%%
Could work; especially debt free. Mainly keep records + if you dont make 7 times as much daytrading as eod[end of day, swing/ position, trading- well ,word to wise. [And if you can make 7 times as much daytrading as anything else , go for it; i never wanted to be a brain surgeon, but i knew some could] You never know ,till you keep records]

Van_der_Voort_4 · Feb 22, 2018

soulfire said:
The paradox of trading successfully is that if/when you arrive at a method that works for you, you'll see that it lies more on the side of simplicity than being complex.
More...

Perhaps it is in your findings,myself i would not call it simple.
Otherwise very good post.

slugar · Feb 22, 2018

Ag

Van_der_Voort_4 said:
Perhaps it is in your findings,myself i would not call it simple.
Otherwise very good post.
More...

Agree simple but certainly not easy

Van_der_Voort_4 · Feb 22, 2018

slugar said:
Ag

Agree simple but certainly not easy
More...

that's not what I wrote,i am in disagreement on that specific part.
in my experience they weren't simple,not easy at all.i would say very difficult and kind of complicated in the final result.

To the effort required it is easier to go to Uni and be "A" student than reach a breakthrough here.It's not only stress but also this whole time coming up with nothing and again nothing.Periods in which is very hard to find will to continue and being stock in same thing.Only knowing there are some who done it and they show results that one could continue,otherwise that's it,thought of quitting were there.
Not one thing was on the simple side

slugar · Feb 22, 2018

Van_der_Voort_4 said:
that's not what I wrote,i am in disagreement on that specific part.
in my experience they weren't simple,not easy at all.i would say very difficult and kind of complicated in the final result.

To the effort required it is easier to go to Uni and be "A" student than reach a breakthrough here.It's not only stress but also this whole time coming up with nothing and again nothing.Periods in which is very hard to find will to continue and being stock in same thing.Only knowing there are some who done it and they show results that one could continue,otherwise that's it,thought of quitting were there.
Not one thing was on the simple side
More...

The process is not simple at all but once a method is found I believe simple is best and most of us over complicate it