Discussion in 'Professional Trading' started by TradingBillions, Mar 7, 2007.
Generally, what are the pro's and con's of trading full time?
Make sure u get it checked by the lawyer since u r new in it .
less time available driving around in the convertible and picking up street whores.
Pros: if you are the hard working, emotinally stable type = access to unlimited $$$, limited only by your desire...
Cons: who cares about it if you're doing it right. (I guess the cons are that, most likely your sorry ass couldn't cut it as a trader).
+ You get a 'feel' for your markets quicker
+ The more time in the field, the shorter the learning curve
+ You act like a business owner
- Trading full time requires much more than the 'standard' 40 hr work week
- If you don't make it, a lot of time is gone
The pro's are pretty obvious, although not easily attained. An unlimited upside earnings potential and the freedom and independence of a true entrepreneur, all without buying a "franchise" (with big $$) or having to deal with employees or the public...not having to have your "game face" on all the time. You have a very limited downside compared to most business ventures.
But, it does take work, and lots of it. You need to be trained well, associate yourself with a winning group of people who already make a living trading - and sift through all the nonsense spouted by those who have tried and failed.
And, trading is fun and challenging at the same time - keeps your brain working!
- Great hours (on the west coast). I'm done by 1:30pm and have the rest of the day to play with my kid
- No pffice politics
- Don't have to kiss up to anyone
- Zero commute (assuming you work from home). That alone added back 2hrs/day to my life
- Better earning potential
- Being self-employed opens up all kinds of deductions
- Can be very emotional on a daily basis
- Can collapse and fail at any time
- Causes huge trepidation when you hit the inevitable rough spot
- If you trade from home, tough to come up with work excuses to tell the wife to stay out late or go on trips
- All those damn taxes to pay!
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