Quit job for full time trading

[maneverfix]

very inspiring post !!! :clapping:
One day I will also quit job and trade the NF as Full Time Trader :thumb:


..
PS : waise abhi job lagi nahi hai

All the best Ravibhai

 

[JPK35]

I also think that only 2 months trading is not enough time to make such a decision. Although obviously it will always depend on your feelings and intuitions, who doesn't risk doesn't win.

 

[spacenoxx]

I very much want to become a trader as well but do not have the knowledge nor experience to give it a serious shot.

However, one thing is always at the back of my mind. Apart from say tax, what is our(a traders) contribution to anything in general?

 

[sumosanammain]

You shouldnt have to quit your job, because when you make a lot of money trading, your attitude change will automatically make your boss kick you out

 

[NJ23]

:annoyed:

I very much want to become a trader as well but do not have the knowledge nor experience to give it a serious shot.

However, one thing is always at the back of my mind. Apart from say tax, what is our(a traders) contribution to anything in general?

Since when did traders started getting deep while they're not high? We can always say we provide liquidity to investors but if they don't buy it, we spend to consume services that many won't. Who'd buy all these expensive softwares, large bandwidth? IT's major clients are BFSI. You can create wealth for yourself and your clients while creating jobs for people in this domain. Is that a reason enough? Who are you answerable to anyway?

You shouldnt have to quit your job, because when you make a lot of money trading, your attitude change will automatically make your boss kick you out

:lol::lol:

 

[classifiedindian]

Its easy,prepare for IAS or IPS exam,and join any govt service, after that quit job, and be a fulltime trader :rofl:

Why waste time studying for civil. Services then?

 

[classifiedindian]

I am software guy, 28 yrs, Single. Wanted to do fulltime trading but in a dilemma whether trading can be considered as a profession. Now I am in a clear mind when to quit my day job and enter fulltime trading. First I need to get married and after that I need to close all my pending loans. Already have made some investments but need to same some amount. Even if you don't like your job just stay in your job as long it goes well. Currently I am trading with small amount. I am confident that I can trade well but still don't want to quit my job for next few years. May be by next 5 to 6 years down the line my growth in IT may become stagnant or goto high salary then my job will be at risk and find my exist automatically. Then I will consider trading as my profession. By that time I need to have a good backup through the investments made before. As of now I consider trading as a weapon when I am jobless.

You won't be able to quit your job and start afresh as a trader after you get married and have a family to take care of

 

[sspms2002]

Hi..I am also a NOOBee..and trading from last one year...and it has been ok and i have learnt a lot and feel confident about myself...there are days when i loose 2-4% but inherently i have started feeling that i can make them back any day...

I have a steady IT job and i do contemplate trading full time...

But to be frank, just thinking about earning bread solely from Trading puts a lot of pressure...when we are not consistently able to make a good money out of market...

and on top of that if we get into a loosing phase for some period it will have huge troll on psychology....with a back up job in hand it is automatically taken care of..

My personnel view is that a person should be overlapping his job and trading for at least such time where he is able to match both the incomes....

Obvious assumption above is that your pockets are not deep.

 

[sumitalwar]

Any who thinks / dares to quit a steady income ( job) and goes for unpredictable thing as trading deserves a pat on the back .

My best wishes to all those who have done such/ think of doing so .


RGDS


Sumit

 

[rajicharan]

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.

'' 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'''

May I know the advisory contact details