Quit job for full time trading

Trading and job

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

    Votes: 41 44.6%
  • I regret quitting my job

    Votes: 21 22.8%
  • I balance trading with job perfectly

    Votes: 30 32.6%

  • Total voters
    92
In order to be able to work at the main job and trade on Forex, you need to choose the right timeframe, the work on which will not coincide with the employment in the main profession
 
my take is only if you have an edge and a system to make 50% of the points on offer for the time that you trade parttime (be it from say 7 at night in MCX or whatever) consistently then only give it a serious thought. Consistently meaning over 6 months to 1 year.
 
if someone can make 50% of the points on offer (range of the day) for fulltime traders then i can assure you that you will retire very rich indeed.
If you look at it in the Indian context then if you can make 100 points in Bank Nifty or 40 points in nifty consistently then nobody can stop you from becoming successful beyond your wildest dreams.
Think about it. This may sound simple but it is not easy.
That said people are doing it regularly.

Because once you have your successful system in place then scaling up is no problem in Indian Markets.
If 40 points in Nifty can give 3K per day then in an year you can make 7.5L
and with successful scaling of just 1 lot every month you are looking at almost 1CR in year 2.
Just do not be in a hurry to scale up. Work on the consistency part by finding an edge that delivers.
 
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 hea
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.
Hi I am a trader myself, though I trade following basically chart patterns and trend lines....All my calls were good but I was not able to benefit much, may be I exit or change my position too often or may be I place stop losses at wrong place or at times emotional trading cost me.... can u please guide me and can we please talk over phone...my name is Gaurav
 

bashasm

Well-Known Member
if someone can make 50% of the points on offer (range of the day) for fulltime traders then i can assure you that you will retire very rich indeed.
If you look at it in the Indian context then if you can make 100 points in Bank Nifty or 40 points in nifty consistently then nobody can stop you from becoming successful beyond your wildest dreams.
Think about it. This may sound simple but it is not easy.
That said people are doing it regularly.

Because once you have your successful system in place then scaling up is no problem in Indian Markets.
If 40 points in Nifty can give 3K per day then in an year you can make 7.5L
and with successful scaling of just 1 lot every month you are looking at almost 1CR in year 2.
Just do not be in a hurry to scale up. Work on the consistency part by finding an edge that delivers.
Sir when you say Banknifty 100 points, is that per day?
 
Hi I am a trader myself, though I trade following basically chart patterns and trend lines....All my calls were good but I was not able to benefit much, may be I exit or change my position too often or may be I place stop losses at wrong place or at times emotional trading cost me.... can u please guide me and can we please talk over phone...my name is Gaurav
Event 50 points per day in BankNifty is enough right when it is done consistently
Please share your thoughts
 

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