Well, I left my 105k (plus insurance, bonues, 401k, etc) job behind last july to try this thing full time plus planning on starting a business. I am doing consulting on the side though to just keep multiple streams of income. I see trading as one of the many means to an end. I dont plan on using trading as the sole income generator for me. I'll probably look into buying an apartment to rent out in the next 2 years or so. I guess what I'm saying is that if you're young, don't worry about being behind the eight ball. You can recover - at least you won't think "what ifs" when you get older and slaving away
No matter what your decision the most important thing is to devote yourself to one or the other. You have to have a 100% commitment to be successful at anything.
If this offer makes substantially more than you have been making from trading then you have to decide which is more important, money or freedom.
For a lot of people the money isn't the most important factor. Rather, the freedom and ability to decide WHEN to trade is more appealing. Personally, while in the corporate world I lived well below my income level. So moving to trading 11 years ago wasn't focused on how much $$$ I could make. Instead it was about managing risk, being disciplined and not blowing out. I made it through the crash in 2000 in good shape. IMO anyone who desires to be a full time trader has to play both long & short. Too many posts here suggest to me that some (aspiring) traders only play the long side and get a bit giddy when we're in a bull market. One has to have a plan on how to trade no matter what kind of market we're in.
whosde your accountant, i paid well in to six figures.....at a rate of 38%, how can you only pay 10 %, how much can u deduct?
I just hope you will NOT make your decision based on some anonymous advices on ET. So much depends on your age, family status, and above all personality. We are all different here. Expect all kind of answers.
I used to do both as well, work as a corporate lackey and trade on the side. Being a longer term swing-type trader works best in that situation, so you're not a tick hound. But like someone said earlier, to be truly successful in almost anything, you have to give it your full attention and dedication. Sure you can do both for a while and be modestly successful. But after a few years you begin to realize that you're not making the best of either side. You can't give 110% efffort to trading/investing because of job responsiblities, which distracts you from focusing on profitable research, opportunities and ideas; even just reading a good book to stimulate some thoughts. You also can't give 110% effort to your corporate job because you seem to always want to do something stock market-related during your free time (conduct reseach, check quotes, look at charts, getting away from coworkers, etc, etc). So you also get distracted from striving to get promotions, to get noticed, accepting more responsibilities; the little things you need to do to work your way up the ladder with bigger salaries. I finally realized I was really screwing myself over both ways. Like I said, it does work for a while... and if you're single with only yourself to worry about, you do end up saving a lot. But you're not great on either side of the fence. Just average, maybe above average, but still mediocre either way. And by the time I knew it, my twenties were gone. Time is the most valuable commodity in one's life. Health too. So always being stressed for time doing two jobs at once can't be good. So it depends on each individual's situation and circumstances, which are countless. Not to mention one's unique mindset/personality. I finally chose to jump off the fence. But still young enough to jump back over again should things not work out though. ALWAYS HAVE A BACKUP PLAN.