Is it good to leave a job for full time trading in India on the US market? What is th

[Tlahuicole]

Re: Is it good to leave a job for full time trading in India on the US market? What i

I completely agree with Raj...

Little food for thought... as whatever is gonna be your decision & am sure you wont consider the negatives of trading life till you completely leave your job:

1. You say you have been dabbling in US stocks since 2 years.... the period in which all has been smooth sailing one way bull market... typically every bull market I find many start making money (albeit in the later stage & think of taking trading full time & leave their secure jobs... have seen 3 bull markets & same mindsets I see everytime...

2. I have been trading in Indian markets since 15 years & following it since 1990... I am a full time trader, full time as in , trading income is now my main income... IMHO, Medium to long term trades will always be the most profitable... I have settled to the level that I do 5/7 trades a month & see charts once or twice a week... so If you do some research & find method which suits you best I am sure you will not need to give up your job & earn well in mkts too...

All the best which ever way you go...:thumb:

Bro,

I have been learning and trading for 5 years now but only left my job few months ago. I have been consistently profitable for 6 months when I resigned my job. First try to learn trading while working, then try to create a strategy and test it post market time by replay. If the method is consistently profitable for last 3 months then you test it for one month by taking one month sick leave from office. Once that also moves well. You can think about next step.

Now, calculate your monthly income from your full time job divided by nof hours work per day multiplied by no: of working days per month which gives your per hour income from your job. Now, do the same for trading. If you are trading everyday day for 20 days a month and earned around 20% of your capital per month, then it will be 20/20 which is 1% return a day. Now calculate the total risk capital you can allot for trading when you are going full time, take 1% of it and divide it by 8 which is your per hour income from trading.

Compare these two things per hour income from job and trading and if latter exceeds or equals your first then you can go full time trading, till then it is a no for full time trading. This is how I transitioned from being a part time trader to being a full time trader, hope this helps. Take care.

Regards,
Tlahuicole.

 

[manishchan]

Re: Is it good to leave a job for full time trading in India on the US market? What i

Bro,

I have been learning and trading for 5 years now but only left my job few months ago. I have been consistently profitable for 6 months when I resigned my job. First try to learn trading while working, then try to create a strategy and test it post market time by replay. If the method is consistently profitable for last 3 months then you test it for one month by taking one month sick leave from office. Once that also moves well. You can think about next step.

Now, calculate your monthly income from your full time job divided by nof hours work per day multiplied by no: of working days per month which gives your per hour income from your job. Now, do the same for trading. If you are trading everyday day for 20 days a month and earned around 20% of your capital per month, then it will be 20/20 which is 1% return a day. Now calculate the total risk capital you can allot for trading when you are going full time, take 1% of it and divide it by 8 which is your per hour income from trading.

Compare these two things per hour income from job and trading and if latter exceeds or equals your first then you can go full time trading, till then it is a no for full time trading. This is how I transitioned from being a part time trader to being a full time trader, hope this helps. Take care.

Regards,
Tlahuicole.

Very well explained by Tlahuicole !!

One more thing you can add.... be ready to not have withdrawal from the trading account for at least 8-12 months. Meaning... you need to keep aside all your household expenses, travel, medical emergencies, loans (if have ny) etc.

Even after you are profitable at the beginning, first year should be focused on building the good trading capital ONLY.. dont think of withdrawing for day to day expenses.

 

[manishchan]

Re: Is it good to leave a job for full time trading in India on the US market? What i

.......................

 

[Sultaan]

Re: Is it good to leave a job for full time trading in India on the US market? What i

Bro,

I have been learning and trading for 5 years now but only left my job few months ago. I have been consistently profitable for 6 months when I resigned my job. First try to learn trading while working, then try to create a strategy and test it post market time by replay. If the method is consistently profitable for last 3 months then you test it for one month by taking one month sick leave from office. Once that also moves well. You can think about next step.

Now, calculate your monthly income from your full time job divided by nof hours work per day multiplied by no: of working days per month which gives your per hour income from your job. Now, do the same for trading. If you are trading everyday day for 20 days a month and earned around 20% of your capital per month, then it will be 20/20 which is 1% return a day. Now calculate the total risk capital you can allot for trading when you are going full time, take 1% of it and divide it by 8 which is your per hour income from trading.

Compare these two things per hour income from job and trading and if latter exceeds or equals your first then you can go full time trading, till then it is a no for full time trading. This is how I transitioned from being a part time trader to being a full time trader, hope this helps. Take care.

Regards,
Tlahuicole.

what you are saying is completely different from the OP's query & situation.... plus what you are saying is exactly what I said, you can trade along with your normal job... only thing I said You really dont need to leave your job for it... I know many people who trade regularly along with their jobs...

1 month 3 months 6 months profits are really not a sample period I would advice anyone to take such a big step on... good markets last for few years & then white wash you in 1 month... so unless you have background money (as Raj said) or a fall back... or not responsible for a family...

maybe your mindset may be different but otherwise this kind of action on 6 months trading profits is not advisable... unless you know in the back of your mind that you can get a job back, which the OP is clearly not gonna get... (as he said himself)

Anyways no point discussing it further as I assume the OP had a bad day in office , maybe a few drinks down made this post & never came back to see the replies...

 

[aryabhatta]

Re: Is it good to leave a job for full time trading in India on the US market? What i

Everything I would have said has already been said by healthraj ..... :thumb:

 

[aryabhatta]

Re: Is it good to leave a job for full time trading in India on the US market? What i

Hi,

I have been trading in US from past 2 years but could not dedicate time as I have another full time job. I'm planning on quitting the job and becoming a full time day trader now now that I have some capital that I can invest and would be able to give 100% of my time to learn trading. My job is in software line where I make decent salary, even after moving back to India I'm sure I can make a good salary. But I'm quite tired of office politics and ass kissing that needs to be done in corporate world to get up the ladder and would like do my own business to make same decent salary. This is quite a risky and daring step for me as I would be losing my job skill set if i'm focusing on something else. Any suggestions are greatly appreciated. Also, have anyone heard of Dollar bird trading platform in India through which we can trade US stock market? How good is this platform?

I really appreciate your time on any suggestions. Thank you.

Bhai tell me one thing ...... if you are making a decent salary why do you want quit and come back

Most people who go there never want to come back.

Its possible its not that you like trading but that you strongly dislike your job

If thats the case, solution is change your company.

Are you on L1 or H1B? If you have H1B I suppose you could quit your job and find a better one on the same H1B maybe this is the solution to your problem rather thn quitting and coming back for full time trader.

Mu relatives are also in Software and in USA (LA) and love it there, they don't ever want to come back

 

[onlinegtrash]

Re: Is it good to leave a job for full time trading in India on the US market? What i

...

Mu relatives are also in Software and in USA (LA) and love it there, they don't ever want to come back
...

I don't think that's such an easy black and white decision! May be they don't have teenage daughters yet.

Poor man has only one problem i.e food, but the rich man has to worry about million other serious problems eg: self respect, freedom, future of kids, ethnic and racial mix of the school + neighbors + workplace, divorce rates, health and lifestyle, workplace ruthless escalating competition, student debt bubble, health care costs, urban living cost + interest rates + taxes + retirement fund...

For men basically life is same thing every where (whether it's village, city, north pole or US, except for northpole I have been to all the places) but I have to agree women loooooooooooooove any place that's far away from mother in law and have lot of shopping centers!

People in India believe its lucky to get a life in US, people in US believe only millionaires can afford to reach India and take a couple of years off their work calendar !

 

[trades.mymail]

Re: Is it good to leave a job for full time trading in India on the US market? What i

Hi Everyone,

been quite a while I posted this query, I did check out the site for replies first few days and did not see any..
then I was busy with work and everything else, just checked out again to see so many responses. First things first, I appreciate
your time in throwing some advice here, some people to go forward and some to step back & give it more thought. To people who are saying
my studies or all this time i spent on IT is a waste of time and effort or I cannot find another job, it definitely is not the case and I
really love my line of work (not job) in IT, but its more annoying to work with people who don't follow work ethics or have no morals in this corporate world driven by power hunger.
If you say there are so many who work and have to adapt yourself, I'm happy for those who are able to make it work in their favor,
I accept may be I'm not that types, I always felt working alone brings better productivity and I had seen it working for me anytime I did so far in life.
Anyways, it was nice to see people giving some insights from their experiences. Thanks for all your responses.

OnlinegTrash, I really liked your response and yes, totally agree with the last sentence here,
"People in India believe its lucky to get a life in US, people in US believe only millionaires can afford to reach India and take a couple of years off their work calendar !
Although millionaires boat to reach India is too too far for me, I made up my decision and moving back.
I'd like to have a private chat with you in case you are open to that, please don't mind me asking this, appreciate your response.

 

[aryabhatta]

Re: Is it good to leave a job for full time trading in India on the US market? What i

Hi Everyone,

been quite a while I posted this query, I did check out the site for replies first few days and did not see any..
then I was busy with work and everything else, just checked out again to see so many responses. First things first, I appreciate
your time in throwing some advice here, some people to go forward and some to step back & give it more thought. To people who are saying
my studies or all this time i spent on IT is a waste of time and effort or I cannot find another job, it definitely is not the case and I
really love my line of work (not job) in IT, but its more annoying to work with people who don't follow work ethics or have no morals in this corporate world driven by power hunger.
If you say there are so many who work and have to adapt yourself, I'm happy for those who are able to make it work in their favor,
I accept may be I'm not that types, I always felt working alone brings better productivity and I had seen it working for me anytime I did so far in life.
Anyways, it was nice to see people giving some insights from their experiences. Thanks for all your responses.

OnlinegTrash, I really liked your response and yes, totally agree with the last sentence here,
"People in India believe its lucky to get a life in US, people in US believe only millionaires can afford to reach India and take a couple of years off their work calendar !
Although millionaires boat to reach India is too too far for me, I made up my decision and moving back.
I'd like to have a private chat with you in case you are open to that, please don't mind me asking this, appreciate your response.

Good to know that you found mnay of the replies by members useful.

Just a question here please, I assume software is one of the highest paying professions in US. Is this true?

For e.g my relative who i spoke about was hardly getting 70-80k p.m here in India but when he went to US she started on a US salary which was US$100k a year .... this year its gone up but 5% ..... and he's not a BE.

Is this the salary scale for programmers in US?

 

[manishchan]

Re: Is it good to leave a job for full time trading in India on the US market? What i

Good to know that you found mnay of the replies by members useful.

Just a question here please, I assume software is one of the highest paying professions in US. Is this true?

For e.g my relative who i spoke about was hardly getting 70-80k p.m here in India but when he went to US she started on a US salary which was US$100k a year .... this year its gone up but 5% ..... and he's not a BE.

Is this the salary scale for programmers in US?

Thought it's off the topic..

When you compare the salary of $ converted to INR, then yes. But you have to consider the cost of living there too. Taxes are also high (depends on the state though), other than that there will be loads of other bills, health insurance is must.. renting apt is costly (most of the bachelor guys end up sharing like 6-7 guys in a 2bhk type). Now.. you will make tons of dollars if you are working through the consultancy, they will get loads of job for you and you can work 24/hrs a day also if you can. The more you work, the more you earn. If you work for some good company, pay will be anywhere between $30-$50/hour which comes to about $100-120k/year. But again.. dt only if you have some good experience or domain.. else starter range is about $25-$35. This isn't good if you stay in the US and spend there too.. but if you accumulate and come back to India, conversion will make you rich