If you need to ask this sort of question then you are an awfully long way from being a full time trader. Keep researching and don't give up the day job.
Jim Since you do have limited funds and considering that your family will be at least somewhat dependent on you for income, my suggestion is one of two options. First keep you current employment, enter orders before the markets and just trade with limit orders and of course stop protection as well. Depending on what type of trader you are, you can do your homework at night and before the open and then enter you orders for the day. The other alternative I see is if you are really serious about doing this full time, take ten or fifteen thousand and look for a firm that you could work as a remote funded trader or prop trader. If you really want to learn to trade for a living take some steps and explore your options, talk to as many full time successful traders as you can and then make your decision. Best of luck Chad
Well the age old question of how much do I need to be a fulltime trader. You need enough for atleast a years expenses and the acceptance to loss all your capital in the market.
hey buddy .. how have you been? it has been a while.. i can certainly agree that the market is changing.. edges come and go.. but you always had a bag full of those as i remember .. i hope trading is going well for you my friend.. -qwik
before you quite you job, make sure you know what your doing trading. trading is lots of fun, but I would like to also have some other type of income.
Hey Jim Try this little test. Think to yo0urself, if you had to put on three trades, RIGHT NOW, what would they be. Why?? Where would you get out ?? Why. Of the three assets, where did each break out from last? And the time before that. Without looking at a chart, how strong os the trend in each case. If you can answer those questions, then you may be ready to start having a go. Just a thought anyway. Good luck
test the water first. there is a very steep learning curve for most people. and most people think they're god, they usually get wipped out before they actually learned something. i am still learning.