I finally pulled the trigger and am going to start trading full time in early November. Aside from having my finances and home office in order is there anything else full timers wish they did or thought was useful before taking the plunge? i.e. is it easier to get life insurance while your considered employed vs. unemployed, setting up multiple bank accounts for some reason, etc. Thanks in advance for any input.
Cool, i hope for you that you will make it. Have you already bought an XBox360 or Playstation 3. Thats the most important tool of fulltime trader. Without this, the boredom will kill you and your account/s... Good luck and never give up !!!
Most everything is easier when you have a W2 job, so if you need anything money related get it done before that W2 stops! Mortgage, loans, whatever -- a lot easier now if you have that W2. Banks have gone from giving $ to anyone to making it hard to get it.
Check if you are profitable. It can help in this business. It's not like you can rely on taxpayer money like banks and governments.
Although not a bad idea for the intermediary term, I do not think it is how a man should invest efforts in. When you have all the time in the world (which will be the case when being an independent trader), you should seek a new challenge such as learning a new craft or working on a project that really creates value. Design your time in such a way that you won't regret a moment at the end of your life. Or how does it sound like if you spent half of your life gambling in front of the PC screen, and the other half gambling in front of the TV screen?
May i ask what is your occupation then? What do you do during trading that makes it valuble and doesnt feel like u wasted ur life away?
Occupation trader. I'm a trend follower so I don't need to sit and watch the market all day long. It's truly liberating. - Taking piano lessons. - Improving on my Mandarin language skills. - Traveled around the world and continue to pick new destinations every year. - Helped fund my wife's cupcake store so she can live her dream too. - Working on web projects (online businesses and an online shop). - Being a good citizen, money makes me arrogant sometimes (tend to look down on others, but trying to improve). - Working on more to come, continue learning.