Seriously thinking turning Fulltime trader

Discussion in 'Professional Trading' started by innovest_11, Feb 12, 2008.

  1. Buy your own laptop and camp out in the mens room.
    #41     Feb 27, 2008
  2. I stopped reading after this post....

    $50k reserve, $3k monthly burn rate, 2 kids as dependent, and mortgage payment? (or included in the 3k). On top of wife pressure to succeed.

    Call me a 9-5 sucker, but dude there is no way i would quit my day job under those conditions.
    #42     Feb 27, 2008
  3. 3k will include all expenses including kids expenses and mortgage, but u r right, tough. Only problem is body breaking, will die of fatigue soon...

    #43     Feb 27, 2008
  4. bat1


    keep the job, be glad you got one!

    swing trade is best for you


    #44     Feb 27, 2008
  5. webbma


    I"ve read a lot of these types of threads and the "advice" given in them, and I couldn't disagree more. Life is about taking risks and following dreams. It's also about doing something you are passionate about! Don't let people tell you to stay in a job because it's safe. If you are passionate about trading go for it.

    With that said it's much easier if your wife/family are on board. I'm fortunate in that situation b/c my wife is very supportive and always about chasing dreams/passions not playing safe.

    Follow your dreams and passions. There are many stories of succesful people who have given up comfort for this and found success and reward.
    #45     Feb 27, 2008
  6. webbma


    one last thing....yes it will be hard, but anything worthwhile is hard. I had a boss who had a quote above his desk that I think is great...."Easy jobs don't pay well!"
    #46     Feb 27, 2008
  7. candles


    #47     Feb 27, 2008
  8. Have you considered trading through a Prop firm?

    Bright Trading will give about $1 million in buying power with about $20k. Although the $20k deposit is at risk with a Prop firm, that's no different than trading with a retail broker. Futhermore, retail brokers do not give that kind of leverage. Most firms will give a leverage of at least 10:1 or 20:1. Prop firms allow for remote trading as well. Some prop firms allow for overnight trading.

    I have yet to affiliate with any prop firm; however, for trying to trade full-time that's the best opportunity.

    #48     Feb 27, 2008
  9. greddy


    I totally agree. With a family and mortgage, 50K is very undercapitalized.

    A seasoned futures trader might make it with 50k, but there would be no room for error.
    #49     Feb 27, 2008
  10. Well I'ma second career person. Went back to school,for teaching and now stuck finding that tenure track teaching position. With 2 kids and a mortgage and not working every day, I came across Ameritrade and thought I'd try it out with 25K.

    So far? in three weeks time I made 5K, very impressed with it, but not excited. Still have to figure out the taxes I must pay and all that crap.

    I'm still going to continue it, I play it low key and safe (although Dell almost burned me, got out in time) and never "bet" what I can't afford to lose.

    I don't get the swing trade, that of course means holding onto it and selling it just right. I like being live with the market, and although I hold a few now, I'd rather buy and sell without holding overnight.

    For all you daytraders out there; do you invest in an Emergency Defibrilator, boy this stock buying is stressful (placing 50K bets, chills man)
    #50     Mar 1, 2008