I think its crazy having trading as your only income unless you have 5yrs+ of steady profits. Then it makes more sense to trade other people money and charge a comission .
if you have 25k plus a years living expenses you could quit your job try prop and if dosnt work go back.
I just did something similar except I'm not from the insurance field. Realistically, you should only consider this career path if you got a six-figure account AND six-figures in savings. Unfortunately I'm deadly serious..... there are SO many ways you can go bust in this business that you need THAT much of a safety cushion.
Please read this before deciding to switch careers. This guy seems to have a handle on the trading career thing after just a few months of giving it a go. http://www.elitetrader.com/vb/showthread.php?threadid=96763
"I believe someone should look at trading like any other boom such as housing. They should take advantage of the opportunity right now, but they should not have the attitude that this is a lasting career in which they can depend upon to pay bills and support a family." this is great advise....from the above thread..
I notice you guys brought back up my "my life is starting at 33" thread. Im not new to the markets, I've traded for a while, but not at a hedge fund or prop firm. Im interested in seeing how their strategies are employed with this super-rate of margin however and day-to-day traders. What gave me the interest is actually Don Brite with his threads on his market neutral strategy. I did email him and asked if I could attend his trading school without actually going with Brite trading. Unfortunately, I cant. Don is a smart guy and I like his approach, although, still a little wary of prop firms. I do not daytrade. My type of trading is longing on momentum breakouts, riding the trend and then cashing out when price appears to enter the triangle. That way I can tend to more important things in life like my happy hour at the Grotto or the Taj. Right now Im on a plane and moving on to the next boom which is in airplane sales and leasing. hint hint wink wink. I also wonder how some of you guys trade with all your time spent on ET. Obviously not prop firm or hedge fund traders.