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

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.

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

Hi,

I think few of the software engineers are preferring full time trading as better option. I am also from IT industry (6 yrs exp. Now I am 28 ) and am fed up of my software job (too early). I plan to stay in the IT industry as long as it runs smoothly. I have a plan to go full time trading in another 7 to 8 yrs (in my 36 or 37). As of now I am reading all the stuff related to technical analysis, watching the charts and also started trading with small amount.

I think if one have good strategy, patience, money management, time management then can consider full time trading.

Really trading is a good business since we are not dependent on anyone and when compared to software industry (tension, politics, job security fear, etc).

May I know why you consider to trade in US market from India? You have better option in India market. You can trade in Nifty, Commodities, Currencies (INR pairs). Just asking this out of curiosity. Don't take it in wrong sense.

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

I heard RBI has very tight regulation features not easy for one to trade from India.

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

you can trade in US exchanges only by working in prop shops assuming you are in india..

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

well said...:clapping::clapping::clapping::clapping::clapping:

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

what about IB? Won't they allow foreign markets for resident Indians?

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

hahha. Call them up and see how dumb they act.

They have a legal team here and they will still tell you that it is up to you to take that risk.

i hate it when brokers don't comply to the law of the land. IB is no exception.

The problem is you to do a wire transfer to their J.P morgan a/c and the banks will come to know what is the purpose of that transfer even if you give some reason. your a/c will be closed and will have to pay a penalty.

IB doesn't tell you all this and you can get into a lot of trouble.

The only reason they are getting away with marketing is because the govt is not taking any action. The moment they do , IB will run out of india..

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

Agree as per rbi rules for you can't transfer money for margin or margin call in foreign exchanges as per LRS. You can land in trouble if you do well.

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

1. First of all, try to understand Indian stock market for at least 3-6 months. In your night times (here live trading session on that time).

2. Try one of the Traderji member Greet's thread for positional trading system at least around 6 months. If you see first 50 pages of thread (or someone have that as a pdf in that thread) , you can get lot of learning. If you can six months do that and make money with enough discipline, then you can consider trading as a full time career then.

3. There must be legal ways to trade in the US market from India. I suggest you to get some consultation from the industry experts.

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

So what you are saying is the time and money you put from the Age of 3 to 23 is a waste. You spent nearly 18 years to become an Engineer and you think you are not good at being a Software engineer. How can you now think that you will be a Good trader?

If you listen closely to your heart and if you have family commitments, I am sure you will not quit your job. The reason that you have started this thread itself shows that you are not sure to quit your job. So if you are not sure do not do it.

Do not quit your job. Instead modify your system to do some cool trading spending max 30 minutes to one hour in a day and make some 20% on top of your current salary in a month. So that way you have your salary and may be you make 2 times or 3 times your salary using trading in a Year.

Quitting a Job to do full time trading is a BRAVE Idea but not a WISE idea. Unless you are born to some millionaire and have a load of cash and assets that you can sit and enjoy your father's or ancestral wealth.