LOL Those AB Watley drones are still in existence ? ============ Anyone who thinks they are smart enough to quit their day jobs and take on trading usually fail. Then they usually regrets after years of not being able to find a real job.
Anon, Have you ever asked out a hot woman? More than one? They all said yes? Dont crave surety in a world that gives none. RISK... pays. If that fails you always have your hand right? If that is your mentality you'll never survive. It took me 7 years to make what I was making from my prior employment. The loudest naysayers: friends and family. And dont dare mention trading to work mates. Now they hit me up for $. This business is probably the toughest legal one there is. But most will fail because of themselves. Not because its difficult. There are MORE companies that have failed than currently trade on NYSE, Nazdog, scAMex. But at least they were listed. And dont think Microsoft, Home Depot, Wal Mart are invincible. Get the lead out or get out. Like Sylvania. Can you say GM? No one is unbeatable. That's why guys like George Soros turn socialist as they age. They realize they still have to kick ass at 70 lest someone hungry takes what they worked for in the markets. The wolf never fears how many the sheep may be. So if you want to be a mouse in the rat race that's fine. Just dont expect to take down lions in life. There is a certain ecology here. The mind is a big part of it. So is EQ
Actually, it's the reverse. The wolf does fear when the number of sheep decrease. Fear of hungry. LOL.
If you fail at trading and can't find a job, you can always live in Hawaii or some other island that is warm year round in a tent for free; the weather would always be nice so you won't freeze;after all, who needs a house with mortgage and tax payments, or a car that requires maintenance,gas,insurance,and payments;one can live without cable,electric,and a phone. The only thing you would have to worry about is food, and for that you can fish and grow fruits and vegetables. That's how our ancestors lived and that's how people still live in some areas of the world and sometimes I think life would be better if we all lived that way. Life now is just about money and materialistic possessions and people competing on who can live in a nicer house and drive a better car and I think it's BS.
interesting topic.. 90% of any businesses fail the first time. alexander grahm bell and thomas edison must have failed 1000 times. If you take your $5k from your credit card to trade with and nothing else...that is not wise. I think the people that start trading on the side, while working, and take a good 5 years to work up their account to a reasonable level (in my mind over $250k is reasonable to start full time) your plan is solid, your expenses are under control (like any other business) you should be ok al least for a while. If something happens...any employer should respect the fact you had your own business...and it didnt work out 100%. happens ALL the time.