Would you rather trade on your own making 100k yr or trade for a firm making 500k yr

Discussion in 'Professional Trading' started by discrat, Nov 11, 2006.

  1. I think if the question was rephrased as
    20K at home or 100K at Goldmans, i dont think we would have many people prefering to stay at home regardless of the freedom.

    500K for two years is the same as working 100K for 10 years, 10 years is a long time.

    And 10 years of living expenses is going to be atleast 250K off your after tax total (unless you plan on living like a hermit for 10 years).

    If you take the 500K option then 2 years of living expenses will be just 50K.

    So youll probably have to work 15 years at 100K just to make the same as 2 years at 500K after tax and expenses.

    100K isnt worth it.
     
    #181     Nov 14, 2006
  2. Freedom is very subjective. Here is how I see freedom trading from home.

    I no longer have to force myself out of bed to shower and get dressed to commute to a job I no longer had passion for. I now choose to jump out of bed and commute 5 seconds to the living room and WATCH the traffic from my window. Knowing I do not have to rush to put on a suit and tie is very liberating.

    I am home with my son (of course I have help during trading hours) and if the market is quiet I can get up and go spend some time with him. That is freedom I could not have in my office. If I make my money early on in the day, then I can take him for a walk in the afternoon, weather permitting. Basically I have the freedom to spend time with him during the day when I want to as opposed to only at the end or beginning of the weekday. It is one thing to hear how your son first did this, first did that, it is another to be an actual ongoing witness.

    I am not making high 6 figures like a big Wall Street trader, in fact I am probably matching my previous salary. But I have freedom to choose other sources of income I always wanted to do but never had the time to. I teach at the university here once in a while as an adjunct and it does not get in the way of trading but I have the freedom to do so since I can leave my desk and go whenever I need to. I love teaching but the pay sucks. But I have the freedom to do it on the side once in a while without worrying too much about the pay. I am sure other home traders have another passion/hobby they could not touch but now have the freedom to look into.

    My stlye does not require me to trade all day every day (Thank God). So I have the freedom to run an errand or two during the day that we rarely have time to do at night. Sounds kind of sily but you would be amazed how much easier it is to hit the grocery, post office, Costco, Bank, etc. in the middle of the day lol. Errands are not fun, but much more relaxing than rushing in on the weekends when stores are packed.

    Trading is hard work and requires a lot of stress, effort and discipline, but it is far easier for me to do it in a comfortable environment at home where it is peaceful than at someone's else's trading desk where people burn out pretty quickly. This is for me, I know many thrive and are quite alive in those situations.

    The point is freedom is subjective. After working as a lawyer for 10 years, working from home is pretty free in my opinion.

     
    #182     Nov 14, 2006