I have a strategy that works, and has worked for a good length of time. I have over 12 months of expenses in the bank. I seriously dislike my sales job and want out. for those that made the big jump to full time trading... how did you know when it was time to that?
So for the last 3 or 4 years have you generated enough every year from trading an amount that is enough for you to live on? Was that amount even close to what your day job pays?
@tomkat22's advice is solid if you don't want to risk ending up in a dark place. And with risk I'm meaning p>0.05. Of course you can never have complete certainty in trading but that's no reason to leave it to a coin toss or even close.
IMO, if you're asking, I'm guessing you know the answer deep down. The answer is likely no (for now). If you know you would be OK, you wouldnt ask..
Right. You "convince" yourself, not others. Otherwise it could seem like someone, not saying OP, is looking to blame others if they then fail.
what will you do when you quit and then never win again? investing is far different than trading. how many trades have you made? btw the only way to make it with trading is if you don't need the money.
Does your current job offer a sabbatical (minimum of 6 months)? If not, ask your boss if you could take an unpaid leave for 6 months. Now go all out and trade to your heart's content for the next 6 months. Just be sure to document everything. If you come anywhere near your current job, then you might wanna continue. But if not, think of your family, especially your little ones, and just STFU and go back to your daily grind.
Welcome to full time trading club. Are you going to do day trading? It wasn't a sudden change for me as I planned for it very long ago. I started investing/trading when the calculator was just invented. In those days, I had to plot the stock price on the graph paper manually every night. Do live trading during your night time before you go full time trading.
Do you know how much health insurance is? Food, rent etc. The pressure really mounts when you quit your job. I had been trading profitable 7 years and often thought it was luck. But when I had few million in bank, I quit 2 jobs. It was bumpy at first, but I lived trading 20 hours a day for years.