Your Decision and in-retrospect

Discussion in 'Professional Trading' started by ugz, Mar 19, 2003.

  1. ugz


    I would like to direct this question to the Full-Time Traders:

    What were the most compelling reasons for you to leave your job or profession to become a full-time trader?

    thank you in advance for your insightful comments,
  2. Foz


    The polite, but firm, request to resign was my most compelling reason to leave my former employment.

    I'm still not clear on why a company would ask you to resign rather than fire you. To reduce their liability from wrongful dismissal? To show goodwill by giving you a dignified exit?

    Are you considering leaving your employment voluntarily, Ugz?
  3. CalTrader

    CalTrader Guest

    They asked you for all of the reasons you mention ... Also, depending upon the state there are additional costs required by the company when they initiate the termination decision.

    With respect to the initial question of this thread:
    I just started another business: a trading business. In retrospect, it was a great decision. I attribute my success in this arena to proper training - I worked for several years as an employee and consultant to major trading exchanges (still do from time to time) and financial firms. As long as you are prepared with a reasonable knowledge of the business and an appropriate amount of capital and a business plan then you should give it a shot: just be prepared for all the hard work involved. Working as an employee with no direct stake in a business rarely pays off ..... Of course starting an enterprise carries more risk than simply showing up at a job and picking up a paycheck .....
  4. lindq


    At one time I had a successful film production firm. When I sold it, I had capital for another business, but not enough for complete financial freedom.

    After looking at many alternatives, I looked at the advantages of trading as a BUSINESS. And that's the way I look at it.

    I pay no rent. I pay no employees. I don't need to sell, market or advertise. I win or lose on my own decisions. And as a Trader, I get benefits at tax time.

    How many other busineses offer the same advantages?
  5. Foz


    And it's an easy commute. :)
  6. ugz



    i am a newbee to this, but how is your trading business organized, i.e., LLC, S, or C-corp?

  7. lindq


    I'm not incorporated as a business entity. I file a Trader in Securities.
  8. If this ever happens to you, make them fire you so you can get unemployment insurance (which is harder to get if you quit and the company decides not to backup your story). Additionally have them offer you a severance. You don't want to rat bastids to get off scott free.
  9. "... the lure of easy money's got a very strong appeal -- you got to carry weapons cause you ALWAYS carry cash!"

    -- actually you'll discover that the early days (should you choose to accept this mission) are anything but easy!

    best of luck,

  10. professional goal.
    #10     Mar 20, 2003