There are many neagative comments in this thread about a trading career with a few positive ones. For those that wrote negative posts, are you successful traders, or you are just negative because you did not make it as a trader ? Although my question sounds sarcastic, it is a true question .... If you are successful, how the hell did you start trading when everyone said NOT TO DO IT in the first place ? I am startng to believe the guy that posted: <i>"this board is for loosers. Successful traders are not wasting time posting in ET"</i> .....
I started trading because: 1) I did not know that 90% don't make it. 2) No one told me not to do it. 3) Also, when I originally started I was not married and I still don't have kids. 4) I came up with my own system and edge after I found out that most books and seminars are scams.
oracle, I am assuming you are a successful trader .... right ? Does it sounds familiar? New traders are doing the same thing you did when you started trading..... the only difference is that now you have people telling you NO.
I didn't realize John Lovitz was a swift trader. OP - Don't quit your job. Try trading on off days or vacations. Walking away from what sounds like a good career for potentially nothing is pretty fucking stupid and selfish. If you can prove that you have what it takes and can make money, that's a different story, but start by getting your feet wet.
before you quit your job: think about this: the market everyday is just new, even every minute/second, for example, you bought 1000shares of a $30 stock, then the stock dipped $0.3, what you do? kill it and eat the bullet, or hold on and wait to see ? if you hold on, another $0.1 dip, you continue to hold on? then $0.5 jump, take profit or let profit run, then another $0.4 dip, if you do not take the profit, the profit may immeadiately disappear in blink of eye, what you should do? you hold and hope it will bouce back? ....and on and on. trading is a very challenging job, you face constant decision making. like this morning, I saw SOLF in huge gap up in the pre-market, when I saw 30.75, I put a short sell order at 30.89, the market did not take my order, then I shorted it at 30.55, the market fight back to 30.7, I was holding 2kshare short, immeadiately the P/L shows my position is in $300 RED, do I eat my bullet? ..... I hold on, even that just lasts a couple minutes, but I feel it is particularly long, like one hour! think about that! not most people can handle this kind of volatility!
to the OP: oraclewizard77 has pretty much nailed the model for becoming a successful trader for you. as you can see, according to your postings you are in a very different situation, which is why the majority of people here do not think it's a good idea for you to embark on this journey. to that I might add, if you can gaurantee the safety and well-being of your family before your desire to seek a trading career, go for it, until you can, let it remain the dream that it is. like others have said, you can try swing trading, options, etc., etc. anything that doesn't tamper with the plan that your currently have in place, and which is already working. ultimately it's your life and and you are going to do what you want to do, but you asked for our opinions, and you got them. good luck.
real case, guy was a top heart sugeon, married, kid. He was so successful that he could afford to retire early. He was bored so he picked up trading for fun and profit. It ended badly, after 2,3 years all his monies were gone and he just couldn't go on living any longer. So think hard about what you about to do. You had been warned.