i just choose not to have a secondary job. i think most others are the same. i was making $115k/year working as a java architect before i decided to stop. it was just noise. i can always fall back on it if i need too......
The best thing would be a rich wife! But she better be old and ugly, otherwise she might leave when you spend hours trading and not paying her attention. Don't want to risk the pool boy taking away your meal ticket!
i've found freelance work makes a good balance, especially because of the flexibility in the amount of work you do and when you do it.
Any one else have some real suggestions or possible secondary job ideas? I am looking for jobs that are not dead end type jobs such as bar tender,ect, but something that could develop into something in their own right. I have thought of the mortgage business seeing that I know a person who made 900K last year, but I am afraid of moving to that only to find out a year from now everyone will start getting laid off in that business. I wish I knew of an area of business that would clean up when the foreclosures start. I would love to be in the hedge fund industry but don't know any contacts within that business. I recently have been thinking of looking for another career type job to bring more stability to my life. Based on some of the other traders I know some of them are thinking the same thing. This is especially true if you are thinking of starting a family or already have a kid, both of which I don't have but want to have. Trading is great when things are going well, but as we all know strategies die and that is where the stress can begin if you have others that are dependent on you. I am beginning to think that I would like trading to be the gravy income with something more stable and then be around for those years where trading is the big income source when trading is phenomenal. The real estate business seems to be a good fit because they seem to be opposite cycles. Any suggestions?
I guess it would be included if you are a so-called "kept man". Anyway, I think a good secondary job is something where you are able to watch the markets during the day...in other words, a trading firm or brokerage-related job. That's what I do. I work for a firm where I can comfortably trade for the first hour to hour and a half of the session (where most of the day's action happens anyway) and then I take care of business during the late morning...finally returning to the screens towards the last hour and a half in case some market move happens. Certainly takes a lot of the pressure off trading for a living alone. PEG LEG JOE
I respectfully disagree with this statement. Sure, there are "strategies" that die, and work better sometimes than others. But chart reading is chart reading, and intelligent application of core TA concepts has worked for as long as markets have been trading, and will continue to work. Good luck.