Quit job for full time trading

[Bane]

May I know reason for the two assumptions??

He thought you quit forum and run away.

 

[DPA]

He thought you quit forum and run away.

Oh ...
and the reason for other assumption??

 

[Trader987]

If you are really going to quite your job and work as a full time trader then before quitting the job, first you should set some passive income sources for you in case of losses in trading to full fill your basic demands. :thumb:

 

[ashwinikhanna]

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....

Dear DPA,

I just happened to read your thread, and wanted to comment on it.
I did exactly the same 3 years back. Quit my job from TCS and started trading full time based on the past 3 months paper trading in FnO.

I had sleepless nights as my cash-level was draining with losses.
My paper trades were right but unfortunately they were done in trending market. When I quit my job the market was range-bound and I suffered only losses.
Some one rightly said in the thread that - you have to experience it at least for 1 year to decide to do it full time. But looking at the current Indian market scenario I will say try it for 2 years. We have Modi govt, foreigners are pumping in money which can take the markets up and up for another year - But remember this won't happen every year.
I will say if you suceed in range-bound markets, volatile markets - then you can say that you are ready for trading full time.

Luckily I am back into IT, and doing side by side positional short-term equity trading only.

Good luck to you!

Ashwini

 

[DPA]

Dear DPA,

I just happened to read your thread, and wanted to comment on it.
I did exactly the same 3 years back. Quit my job from TCS and started trading full time based on the past 3 months paper trading in FnO.

I had sleepless nights as my cash-level was draining with losses.
My paper trades were right but unfortunately they were done in trending market. When I quit my job the market was range-bound and I suffered only losses.
Some one rightly said in the thread that - you have to experience it at least for 1 year to decide to do it full time. But looking at the current Indian market scenario I will say try it for 2 years. We have Modi govt, foreigners are pumping in money which can take the markets up and up for another year - But remember this won't happen every year.
I will say if you suceed in range-bound markets, volatile markets - then you can say that you are ready for trading full time.

Luckily I am back into IT, and doing side by side positional short-term equity trading only.

Good luck to you!

Ashwini

Thanks for the thoughts.

On a side note, can I ask for how long were you trading full time?
As I understand, it is quite difficult to get into industry after a sabbatical.
Difficulty in getting back into a job if things don't work out is one of my concerns as well.

 

[ashwinikhanna]

Thanks for the thoughts.

On a side note, can I ask for how long were you trading full time?
As I understand, it is quite difficult to get into industry after a sabbatical.
Difficulty in getting back into a job if things don't work out is one of my concerns as well.

I was trading full time for about 3-4 months.
Yes it is always a little difficult to get back, thats is why I didn't wait for a bigger gap. I quickly decided to jump back to IT.
You have to keep trying for new job.. settle for a little less than market rate CTC, etc.... but that is the risk you have to take.

 

[DPA]

I was trading full time for about 3-4 months.
Yes it is always a little difficult to get back, thats is why I didn't wait for a bigger gap. I quickly decided to jump back to IT.
You have to keep trying for new job.. settle for a little less than market rate CTC, etc.... but that is the risk you have to take.

Thanks. And good luck....

 

[cloudTrader]

Dear DPA,

I just happened to read your thread, and wanted to comment on it.
I did exactly the same 3 years back. Quit my job from TCS and started trading full time based on the past 3 months paper trading in FnO.

I had sleepless nights as my cash-level was draining with losses.
My paper trades were right but unfortunately they were done in trending market. When I quit my job the market was range-bound and I suffered only losses.
Some one rightly said in the thread that - you have to experience it at least for 1 year to decide to do it full time. But looking at the current Indian market scenario I will say try it for 2 years. We have Modi govt, foreigners are pumping in money which can take the markets up and up for another year - But remember this won't happen every year.
I will say if you suceed in range-bound markets, volatile markets - then you can say that you are ready for trading full time.

Luckily I am back into IT, and doing side by side positional short-term equity trading only.

Good luck to you!

Ashwini

To add to this good post [in quotes above] , 70% of the time Markets will be in sideways mode ... to win in sideways markets one really needs lot of deep understanding which requires almost 10,000 hours of dedicated learning ..

 

[test123]

using head and shoulder they make the market ..
Traps are for both bulls and bear.
in the end if u able to maintain position for like 1 to 2 yrs Bull always win atleast in nifty :xD

So have a job / fixed other income so u will get food no matter whatever u do loss or profit.
In stock market no one dies virgin. it rapes them all lool.

have u met a trader who has never made loss in there career i haven;t lol

 

[onlinegtrash]

...
In stock market no one dies virgin. it rapes them all lool.
...

I never thought this way!