me too since 2000 wife has a part time- 20 hrs at her convenience- gig at the local university to give our family benefits
I currently trade full time (only source of income) with a retail account, and have done so since last summer. This is my second run at a fulltime trading career. When I first started my full time trading career, I began my efforts with a $30,000 USD account. After realizing better than moderate success, I discovered the account size wasn't large enough to maintain my lifestyle AND grow my trading account. At this point, I had two choices: improve my success rate or increase my trading capital. Since undercapitalization remains one of the biggest mistakes new traders make, I decided going back to work would increase the likelihood of my long term success. As a result, I took on a contract position for one year - allowing me to maintain my lifestyle and increase my account size. I deposited a significant portion of my paycheck into my trading account, and continued to trade using EOD charts and phoning my orders into my broker. I also continued to educate myself on a daily basis. After trading 'part time' using EOD charts, and adding additional funding to my account each paycheck, I left work for the second time one year later, and have traded full time ever since. - Spydertrader
I trade full time for myself and, in an average year, earn enough to barely survive. But I may get a job to increase my trading capital. The problem is that you never know whether the next year will be bad, average, or good. You need to have enough capital not just to earn enough in an average year, but you need enough to pay the bills in a bad year and still have enough capital left for the next year of trading.
Trading is my only source of income. Married, no kids of my own but she has 2. Mortgage is paid off .. that was one debt I didn't want hanging over my head when I went full time back in 1996.
You know what would be cool? To have a forum where every member with posting rights had to prove with audited statements that they are a professional trader for at least one year. Professional meaning g.t. $50K in trading profits (not just cap gains from holding large amounts of stock). Is there a service which can verify your statements without the danger of you revealing the sesitive info in a statement?
Yes, such a forum would be great. Unfortunately it would likely be infested with a *lot* of sharks trying to fish out ideas from the remaining profitable traders out there. Most people today can't afford to take the chance of having more competition considering how the market has gotten. Therefore, I suspect that type of forum would end up with very little discussion of substantive matters.
This is not cool! I'm full time, trading is my only income. Married with kids. I trade more than a year and more capital than you mentioned, but I don't need to prove anything, not to you and not to anybody else. I like the way ET forums are organized, by subject. There are many good people that contribute to the community from their experience, and I can filter out those who don't. I don't care who trades full time or above some capital level.
I can't imagine what possible interest any "profitible" trader, with no agenda (like me) would have in jumping thru hoops to prove a certain level of income to people on an internet message board. Anyone who's really doing it would understand this very well.
<B>What's your "style"?</B> Daytrading intermixed with overnight holds <B>Who's your main broker?</B> IB <B>How's your biz set up (i.e. sole prop, sub s, LLC, LLP)?</B> Sole prop <B>How long have you been trading profitably?</B> 5 years <B>What did you do b/f?</B> Grad student
Moved to FL in 1989 and have traded retail full time since then, and the advent of practical internet/computers/data etc. Basically have always traded big cap Nasdaq stocks intraday and overnight. Plenty of action, only your lack of imagination limits potential. Specialize, hit singles daily, and wait for the homerun setup usually 1-2 /wk. Used Brownco/esignal combo forever, fast, safe, reputable---$5 per side up to 5000 shs. Never needed level 2, what a joke!! Actually been trading since 1970, using the brokers translux ticker and telephone(LOL--those were the days). No one should bitch, it's so easy to trade now and so cheap. The grass is always greener as they say. Stop looking for action, it's right there every day. Take responsibility and learn how to trade your vehicle correctly. I've had freedom, independence, and a great life because of trading. It's just you and the screen, keep your ego out of it, only you can spend your money and you sure can't spend theirs, so who cares what they trade or how much they make. Travel, enjoy life, and try to reduce the time in front of screen. Your effort should maximize results or you will just be spinning your wheels and wasting a good life. Remember trading is just something you do, you are what counts. Don't leave your dreams behind, or it's goodbye time.