Has anyone given up their dayjob to do full time trading

Guys,

I am curious if any of you have given up your regular day job to do full time trading. I have had decent success in day trading and sometimes i feel i can give up my dayjob to do this full time.

Please feel free to share your experience in this regard or if you are contemplating and the challenges you forsee.

Thanks
NK

I have quit my job and will be trading full time from 2nd May 2011.
no other source of income.

lets see how it goes...

ps. Just for some perspective, I am an unmarried 24yr old MBA & my salary was around 50k per month. I was introduced to the financial markets when I was slightly over 16.

Dear Nk

there are a few mkts..(metals) which trade in the evening..give urself a littile more time..trade metals fr a few months along with ur job..n then decide..

regards

.Pride, Wishing you success in your new full time business venture as full time trader.

Happy Trading

On the contrary, I am taking up a Job after my 2 year stint at full-time trading....

blew up account for lack of discipline and besides i am not suited for day trading. Not to say that other cannot do it....it is just that I would end up giving twice of what i made by the close of the day.

Thanks to the thread "low risk options strategy - spreads" by AW10.....its low risk option strategies from now on....

a)Salary - dal roti.
b)SIP in blue chip stocks - long term - retirement
c)Option strategy - low risk to get some extra income - bonus income if successful that month.

NOT discouraging anyone from day trading : It is just that my ride ended after a good 2 years and iam neither very happy with it nor upset. Blame's on me for lack of discipline. And i need regular salary now.

it is an indidualdecision to be taken up&decided by u when u ask sugesstions from somebody it shows u have an element of doubt about the outcome hence think deeply if u are able to convince urself that u can pull it off jump in or be preparing for a dry period&then decide

Great to see that Pride. All the very best buddy

What markets do you plan to trade?

Quitting your regular job for fulltime trading ? can u do it?
yes u can, but should u do it?
That is the question my friend, to be answered.
Now before we answer ,let us see the pros and cons of part/fulltime trading
Part time trading
Pros : you have a job, a paycheck every month
You know how much risk u can take
Not depend on market for living
Less tension
Con : less time to trade
Miss the chances of earning due to less trading and less attention to the market
full time trading
pros: more time to trade
Can earn as much as you can
No distraction of mind to your office etc, pay full attention to trading
Cons : No regular pay check
Pressure of consistent earning
No reserve amount to offset your losses
Pressure of earning your living from market may work in favour /against you
List is endless for pros and cons but what is the answer
That I will try to discuss in next post
thanks