Trading as Profession

trader111 · #11 26th January 2008, 12:39 AM

Quote:

Originally Posted by shaj_nair

Hi to all,

I am doing small level trading for the past 2 years.... along with my current IT job...

Would like to know is there people doing trading on a daily basis as profession... and also is there any people who have quit there jobs for the sake of Trading...???

For the past few months, the thought of quitting my current job and to take up trading more seriously is crossing my mind.... so thought of getting all your expertise and advices....

Please offer your views...

Thanks..

Shaju..

Hi
if u want to make a career in trading, perhaps a very safe way would be to continue ur job as well as trade U.S. markets at night thru proprietary trading.This way u will get to work in a professional environment which is very helpful for novice; at the same time u will be using the firm's capital so u can trade without risk of loosing money. there r many such firms coming in india for eg. ....

and always rmbr that where there is a will there is a way

gvgs98 · #12 26th January 2008, 06:49 AM

Good one, Saint.

Quote:

Originally Posted by Saint

Hi Shaju,

Have I felt that I should run back to Medicine at any time?Not so far....

Is it all a bed of roses?No way.The months when you don't earn from the markets,you wish that you were a doctor earning a regular income,or a trader giving some seminars,or making some money off newsletters,etc. There is a lot of pain that you have to endure,it's a tumultous path to huge incomes.........But if you can sort it all out,and you have a set capital to fall back on,and you have an understanding family, nothing beats this path.

Would I change this for anything in the world?No way!!

Should you quit your job and take up full time trading?Well,for a start,trade part time and see if you have what it takes to do this.Meanwhile build up a good capital,not only capital to trade,but something that you can fall back upon.And then see..........if you have the capital,and all the rest that is required off you and the guts to travel this path,welcome to the club.

All the best!
Saint

Raju · #13 26th January 2008, 12:30 PM

Hi shaj_nair ,
I can understand u'r feeling as I had gone through the same situtaion.But in a diff manner.

I was working in S/W automation Coding and was also trading with some amt.I had few ups and down.One day I met a small accident . I was not able to walk for 3-4 months.So I started doing full time trading.When I made extra profit I thought if I had put more money I would have earned more..When I incurred loss I thought I will be able to bear the loss as I will be able to get new job and again build the sum.

What lesson I have learned is build good capital , do swing trade (due to job can't concentrate on Intraday and had lossed amt in intraday.)

If u want to earn more..struggle more,read,study in this phase of life , After some years u would be having handsome capital as job is there and u would have gained good knowledge in stock market.

As in IT we get good pay,which if invested smartly would yeild much more (Ofcoure u have to study ..Read Saint thread ...)

Well today I am also doing the same things which I have suggessted to you.Let's see how much successfull we are if we continue to struggle ..

Raju

marcus · #14 26th January 2008, 08:56 PM

If you really want to succeed at anything you have to devote all your energy to it

suba_stocks · #15 26th January 2008, 09:10 PM

Quote:

Originally Posted by marcus

If you really want to succeed at anything you have to devote all your energy to it

well said marcus....that is the truth behind success.

regards

suba

manojsahoo_jls · #16 26th January 2008, 09:22 PM

hi & hello 2 every one

raaga · #17 26th January 2008, 09:25 PM

I too feel like getting into the stock market as a full time trader and investor. But at times feel it is better to study the market and professionalise in the field before entering the market in full swing.

I would follow the suggestion above.

krishna23 · #18 26th January 2008, 10:18 PM

just like any other job it takes great hard work to make trading a profession...
for starters trading is not gambling and many people get hurt cause they think it's easy money but well it's far from easy....u need to be very tough to handle market swings,be solid as a rock and not panic to succeed as a trader...
the greatest thing abt this is you are your own boss,no compulsions if u have a hangover frm the last day u can just go to sleep...

now if u still wanna do it then the first step is to learn all u can & then start with small quantities to see where ur going...

and another thing is to have an emergency fund since returns are not assured every month...atleast have a minimum 6 month emergency fund!

good luck!

y2j826 · #19 27th January 2008, 12:49 PM

Quote:

Originally Posted by manojsahoo_jls

hi & hello 2 every one

increasing posts ?

shaj_nair · #20 28th January 2008, 09:36 AM

Thanks a lot Saint....

You just sounded like my inner voice.... what i exactly wanted to hear.... Thanks again...