Preparing for a Life After Daytrading

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

  1. hell, what are you talking about.. If it wasn't for my 2 hours of commute I wouldn't be able to listen to the great Jim Cramer.

    #41     Jun 14, 2007
  2. Let's see, I run my own business that nets well into the 6 figures and hide out in my office all day trading so I don't have to deal with the general public. You are right, feel like Howard Hughes more and more everyday. AGGGGGHHHHH, the fingernails on that man!!!!!!! (and I piss in a mild bottle and line them up on along the wall and count them every ten minutes)

    Life is good Mike, now go eat a bowl of Life and shut the hell up.

    #42     Jun 14, 2007


    You clearly don't understand what "quality of life" is all about. How is sitting at home (or in an office) trading, staring at a monitor a lot different than some corporate guy who is doing IT work? Or an accountant playing on his PC with spreadsheets, ledgers, balance sheets? And don't assume all traders do not interact with other humans.

    And as for quality of life ... I love the fact I can knock off trading any time of day I like to go biking, running, kayaking, head to the ocean, play tennis or golf. How many corporate guys stuck in cubicles have that freedom? Trading and quality of life is about being your own boss and having the freedom to do as you CHOOSE.

    I'm sitting now, trading on my laptop, watching the US Open golf on the HD TV. I'll take that over some guy who has to commute to some corporate office each day, fighting traffic and getting stressed out doing so. And for the record ... I did the corporate thing ... for 16 years and trading is going on 12 years now.
    #43     Jun 15, 2007
  4. Freedom is the word. Trading from home gives me so much more freedom to take on other work if I want, do activities during the day, hang with the family, etc.. It is not like I have to be in front of the screen 8 hours a day 5 days a week. I dont think I could ever work for someone again lol.

    Took me several years to get to this level and of course the real work starts now having to maintain and keep moving forward but the freedom makes it all worth it. There are surely a lot of traders making way more than me putting in more time but I have no complaints.
    #44     Jun 15, 2007


    I think lots of people need security .. they need that regular paycheck, they need that 401K there for them, they need the company paid health insurance. Sure, they're all nice perks, and I enjoyed them too during my time as a corporate guy, but if you really desire to be a trader you have to be willing to take some risks (the loss of the above perks) and you have to be confident in your abilities to make a living doing this. And for me, it was the quality of life and freedom that was a primary motivator for me to succeed and do this long(er) term.

    My commute in the past was only 1/2 hour each way daily. But that's an hour a day "wasted" ... time I, as a trader, can do other things that are fun and enjoyable. Not too many people I know "enjoy" sitting in traffic as you also pointed out. Same with corporate politics. The list can go on and on .....
    #45     Jun 15, 2007


    Sounds like you're similar to me in that you're not out to make every last dollar you can trading. I make what I need and then some. But finding a balance between trading and truly enjoying life on a daily basis, doing the things one really enjoys, is what it's all about to me. And those activities vary for everyone. I know way too many people who are "stuck" in corporate jobs, with golden handcuffs .. decent jobs, good salaries (and bonuses) but they really don't enjoy their jobs. That's where I was 12 years ago so I left and have never looked back or reconsidered going back.
    #46     Jun 15, 2007
  7. The key for me was that I was not 100% living month to month on trading income so I did not see the need to squeeze every dollar out. Also my option strategies which are month to month give me a little more freedom than the average daytrader. I also have a wife that works and I have created other sources of income. So basically I can trade without the extreme pressure many full-time "have to make it all" traders face.

    That is why I tell peope who wanto to quit to make sure they have enough capital and external sources of income so that they can truly focus on trading without feeling like the MUST trade every minute.

    Took me 4 years to be at that point to quit and so many people ignore the preparation that goes into making this move. I still worry about future income and always take steps to ensure financial security.

    It would take a gun to the head before I went back....

    #47     Jun 15, 2007
  8. I start my job as a "salesman" next monday. I wanna shoot myself in the face, but I need the money. You guys that get to do this full time are so damn lucky. One of these days...
    #48     Jun 15, 2007
  9. salesman aka telemarketer?
    #49     Jun 15, 2007
  10. lol, how'd you guess that?..yea, you're right. Without a degree and no other real job experience, I dont qualify for much else. :mad:
    #50     Jun 15, 2007