Preparing for a Life After Daytrading

Discussion in 'Professional Trading' started by Rahula, Jun 13, 2007.

  1. Rahula


    I've been day trading for 2.5 years now and don't want to do it any longer. I still want to trade but I prefer to invest and swing trade a variety of instruments. I used to love looking forward to the next trading day but now I just don't like staring at the screen all day and I don't like the emotions of daytrading. Looking back it was the most rewarding life experience ever, and the most expensive one as well considering the opportunity costs. No regrets. But what is the best way forward?
    I'm a 28 year old guy with a degree in economics and finance and work experience as an accountant. The biggest reason why I want to leave daytrading is because I'd like to propose to my gf and plan for kids within a couple of years - and there's no way I want to be a daytrader with that responsibility unless I already have a million locked into a savings account and am pulling in 1k a day like a robot - that's a very long way off for me, if ever.
    So what are the prospects for ex. traders? I hear daytrading is a resume killer - so I'm assuming I'd have to make something up.
    Also - what are the great skills, jobs, and industries out there that are worth making a long term commitment to?
  2. Become a roofer with a crew of illegal aliens. You'll be rich before you know it.:D
  3. Rahula


    LOL - that's actually great advice. There's a huge shortage of good contractors out there. I know one guy that easily made over 100k cash (no taxes paid) doing contracting work. It does take skill though. I guess same goes for being a plummer. How does one get the skill to be a contractor or a plummer? Are there courses and certifications offered?

    edit: I'm just curious. But I prefer an office job though.
  4. fishermen smell of fish, butchers smell of meat, plumbers smell of ...
  5. Drew07


    Are you still interested in finance/investments. Why not try to be a financial advisor, broker, analyst......lending...etc etc.
  6. Being a first time home owner I want(ed) to be a DIY guy. So I do some real basic plumbing on my new house and some on my Mom's. Now I have more respect for plumbers. This summer I get to crawl underneath the house where I have seen a couple of black widows living and wrap the pipes so they don't build up condensation before next winter. Last thing I heard they get $80 an hour and they deserve it. :p
  7. To add to that relocate to New Orleans and you will have steady work insured. :p
  8. Have you tried night trading?
  9. Rahula


    The jobs you mentioned with the exception of analyst are all sales jobs. I prefer not to be in sales, unless I'm selling a product I really believe in an easy to sell. As far as being an analyst, I don't think that's a possibility given that I have no experience in that.
    I'd like to take some courses, develop some marketable skills in IT before looking for a position that is a mix of finance and IT - I hear the market is good for those kind of jobs.
  10. :D
    #10     Jun 13, 2007