Quit job for full time trading

Trading and job

  • I quit my job for trading and that has been a good decision

    Votes: 41 45.1%
  • I regret quitting my job

    Votes: 21 23.1%
  • I balance trading with job perfectly

    Votes: 29 31.9%

  • Total voters
    91

DPA

New Member
#1
I am a software professional and interested in trading since 1 year.
During that time, I have developed backtesting system with EoD data and developed a trading strategy which looks promising.
However, I have started actively trading since only 2 months and the real trading results are at par with the strategy.

Should I quit my soul sucking job for full time trading?
Does anyone who has done the same have any advise?
Full time traders, please suggest....
 

ram2010

Well-Known Member
#2
I am a software professional and interested in trading since 1 year.
During that time, I have developed backtesting system with EoD data and developed a trading strategy which looks promising.
However, I have started actively trading since only 2 months and the real trading results are at par with the strategy.

Should I quit my soul sucking job for full time trading?
Does anyone who has done the same have any advise?
Full time traders, please suggest....
No.
past 2 months market is trending and in strong bull run.

trade for minimum of 1 year and think after whether to quit job or not.
 

howardroark

Well-Known Member
#3
I am a software professional and interested in trading since 1 year.
During that time, I have developed backtesting system with EoD data and developed a trading strategy which looks promising.
However, I have started actively trading since only 2 months and the real trading results are at par with the strategy.

Should I quit my soul sucking job for full time trading?
Does anyone who has done the same have any advise?
Full time traders, please suggest....
I was not as blessed as you are ... planning to quit ...
We were fired during 07 global recession ... was mad, depressed ... :mad:
7 years down the line, 5 years as a full time trader ...
07 recession was a blessing disguise ....
Trading is more about the Psyche of the trader ... everything else is accessory ...
If you have it ... The psyche ...
Go for it .... :clap::thumb::clapping:
 

suri112000

Well-Known Member
#4
I am working for a PSU and has been trading for the last 5 years. Though I want to be a day trader, it really sucks my brains out when I sit to day trade on taking some leave. Trading requires a lot of mental balance. Any shortfall in this regard, the market quickly finds it out and you are punished mercilessly. And that happens when you are least prepared for it. Before deciding to quit your job, make sure you do not suffer from lack of mental makeup. When in gala time, every thing looks rosy and flourishing. Actual blow time brings up your weakness and the market is merciless in dealing with it.

I am now swing trading in futures and options keeping my day job. I am making around 5-10% pm comfortably which I am satisfied with.

To head on with market, you need.....

1. Strong Capital Base and Money Management. It depends on the appetite. One of my collegues trades in only equity positional. He subscribes to the famous advisory in Mumbai. He receives a call for a week. He just invests Rs.25,000 in each call. He has a capital base of Rs.30 lakhs. He liquidates his position exactly after 1 year whether in profit or loss. He is successfully making 30% per annum ie Rs.9,00,000 per annum while keeping his day job which is very demanding.

I trade in futures mostly. My base capital is Rs.10 lakhs. Sometimes I hedge my positions with options. I never expose more than Rs.4-5 lakhs at any given point of time. I swing trade. In recent fall, my account was down by Rs.2 lakhs though I have recovered it fast. Other than this Rs.10 lakhs in trading account, I always maintain a bank balance of Rs.5 lakhs to feel the cushion.

I am explaining these as an examples. Your risk appetite may be different from us.

2. A strong psychological makeup. I challenge no one knows what could happen in the market in the very next movement. Yet, we trade. Psychologically we should always be ready to absorb the shocks jitter by markets very often.

I presume quitting a job because of hatred in the job and in order to take up full trading is a hard decision.

I hope my few lines above will help you to arrive at a wise decision. All the best.

Send me Personal Message if you need any further help.
 

TradeOptions

Well-Known Member
#5
No.
past 2 months market is trending and in strong bull run.

trade for minimum of 1 year and think after whether to quit job or not.
+1

Past 2 months performance is no reason to take such a decision. You need to have good cash in your bank if you want to take trading as your full time profession. It is not going to give any regular monthly income. If your strategy starts to make losses, how will you pay your monthly bills ? I do not want to demotivate you in any way, but please be Extremely Cautious. Trading is one of the hardest profession out there and it gives huge rewards as well. But for most guys it takes plenty of time to reach a level where they can make money consistently.

If you feel your current job is killing you and you have passion for trading then keep on doing this at smaller scale and as part time and try to build some money resources which can then give you the opportunity to take it as full time.

Do not quit your job in a hurry. Wishing you all the best.

With my best regards.
 

TradeOptions

Well-Known Member
#6
I am working for a PSU and has been trading for the last 5 years. Though I want to be a day trader, it really sucks my brains out when I sit to day trade on taking some leave. Trading requires a lot of mental balance. Any shortfall in this regard, the market quickly finds it out and you are punished mercilessly. And that happens when you are least prepared for it. Before deciding to quit your job, make sure you do not suffer from lack of mental makeup. When in gala time, every thing looks rosy and flourishing. Actual blow time brings up your weakness and the market is merciless in dealing with it.

I am now swing trading in futures and options keeping my day job. I am making around 5-10% pm comfortably which I am satisfied with.

To head on with market, you need.....

1. Strong Capital Base and Money Management. It depends on the appetite. One of my collegues trades in only equity positional. He subscribes to the famous advisory in Mumbai. He receives a call for a week. He just invests Rs.25,000 in each call. He has a capital base of Rs.30 lakhs. He liquidates his position exactly after 1 year whether in profit or loss. He is successfully making 30% per annum ie Rs.9,00,000 per annum while keeping his day job which is very demanding.

I trade in futures mostly. My base capital is Rs.10 lakhs. Sometimes I hedge my positions with options. I never expose more than Rs.4-5 lakhs at any given point of time. I swing trade. In recent fall, my account was down by Rs.2 lakhs though I have recovered it fast. Other than this Rs.10 lakhs in trading account, I always maintain a bank balance of Rs.5 lakhs to feel the cushion.

I am explaining these as an examples. Your risk appetite may be different from us.

2. A strong psychological makeup. I challenge no one knows what could happen in the market in the very next movement. Yet, we trade. Psychologically we should always be ready to absorb the shocks jitter by markets very often.

I presume quitting a job because of hatred in the job and in order to take up full trading is a hard decision.

I hope my few lines above will help you to arrive at a wise decision. All the best.

Send me Personal Message if you need any further help.
Excellent advice buddy. :thumb:
Thanks for your post.
 

laotze

Active Member
#7
I am a software professional and interested in trading since 1 year.
During that time, I have developed backtesting system with EoD data and developed a trading strategy which looks promising.
However, I have started actively trading since only 2 months and the real trading results are at par with the strategy.

Should I quit my soul sucking job for full time trading?
Does anyone who has done the same have any advise?
Full time traders, please suggest....
Quiting a job and trying for trade is not advisable...

Always job will suck your soul, wherever you go...

With Regular income backup...your trading result will be different.

Without Regular income...your trading result will be different.

Think twice...
 

lemondew

Well-Known Member
#8
How do you you see job as
1) rat race
2) Defeat others take promotions, follow the rules
3) A good worker reports when he is sick, misses seeing his children grow, leaves his parents alone to visit doctor, cant find time socialize.
4) Stuck in traffic jams
5) Lack of healthy eating habbit, below par health.
6) Low pay.
7) No respect.
8) Not much scope to increase salary.
9) Work long hours.
10) Lack of freedom.
11) boring

If you enjoyed your school and college days better than your working days you know something isnt proper. I am not advising you to quit job and take up trading but its a good time to start thinking what else you can do. Money isnt the ultimate means afterall it is only a tool which will help you fulfill your dreams.

If you have balance worth more than 10 times the annual income you need to survive today without considering inflation then you need not work. You can start with 70% of you income in safe schemes which will generate 9-10% /annum for your basic survival. The rest you can put in investments again with proper risk management.
 

Pradeep Narayan

Well-Known Member
#9
I am a software professional and interested in trading since 1 year.
During that time, I have developed backtesting system with EoD data and developed a trading strategy which looks promising.
However, I have started actively trading since only 2 months and the real trading results are at par with the strategy.

Should I quit my soul sucking job for full time trading?
Does anyone who has done the same have any advise?
Full time traders, please suggest....
1. Do you have the guts to take a plunge into a new domain at this stage in your life?

2. Do folks who depend on you today understand that you may not be in a position - financially and emotionally - to support them the way you do today for the next 10,20 or 40 months you take to become successful in this new profession? Do you understand this as well?

3. Do you have a net positive financial status - can you liquidate all your assets and close out all liabilities and still have the same lifestyle you are accustomed to?

4. Who suggested you the present job? Was it you? If so, can you take all responsibility for the present state you are in?

5. Do you decide based on feelings or based on what you see? How well you understand that people trade their feelings?

Finally,
6. Is there a plan B in case you are not successful in trading?


Answer them honestly and you will know what to do... you need not put your answers here for us to see :)
 
#10
I am a software professional and interested in trading since 1 year.
During that time, I have developed backtesting system with EoD data and developed a trading strategy which looks promising.
However, I have started actively trading since only 2 months and the real trading results are at par with the strategy.

Should I quit my soul sucking job for full time trading?
Does anyone who has done the same have any advise?
Full time traders, please suggest....
Firstly, don't listen to anyone here.

If you feel if you can do it , go ahead. Don't let anyone tell you that you can't make it because they couldn't.

The fact that you are asking this questions means you are not sure and scared to go ahead. So at this point it is your beliefs and your confidence that can help you and more importantly your risk management skills and planning , not suggestions from strangers on the internet.

you need to be responsible and own up to your failures. Don't blame anyone for the the decision to take.

I cannot tell you if you should go ahead or not. But i will tell you this -
It is better to fail at something that you love than succeeding at something you hate. That way when you get older you will not have regrets that you did not take the chance when you had one.

We like to be secure and comfortable all the time because this what is we see all around us and this is what is taught to us by our parents/relative/friends.Few dare to beyond the edge.

Look to people who have go beyond and have taken risk. There are plenty of people on the world. you will not find them here on the internet..

Lastly , whatever decision you take don't base it on the suggestions given here including mine. :)
 

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