Quit job for full time trading

[The White Queen]

I do not advise anyone to quit their job for the sake of trading. Trading is unstable. This game. Today you win, tomorrow you lose. And what will you live on if you lose? We must have a spare source of income. To deal with the trading and the main work.

 

[afin]

x

 

[mohan.sic]

I would advise to quit the job and do trading if one is so much confident on that.
Yes it is a risky step, So what ? can anyone make fortune without risks. I would Just buy a insurance and take the risk ( insurance is the additional bank balance or other back-ups to survive and get back to work if trading fails )

If I fail - I will learn a painful lesson and will try not repeat such things.
But If I dint try - I will have to live in a fools paradise that, had if I tried I would have made a destiny.

So anyone with such feelings should take a calculated risk and give it a try.

 

[Subhash ch.]

Point no. 1)-No, I do not agree with the idea of quitting a job for trading. To me, it is a "Bubble burst."
Point no. 2)-If anyone does not follow my point 1 then point 2 to is inevitable.
Point no. 3)-In my view it is a perfect decision for the beginner( those who are dealing with the market, charts, analysis for the last two-three years). Most respected traders on earth will not thump their chest saying-"I am the best."
Therefore if point 3 is followed, then point 2 will be erased and, point 1 will be a good decision.

 

[Abhishek Patil]

i think, one should only quit his/her job, if they are confident enough to make a living out of it. otherwise there is no point of taking the risk.

 

[TraderRavi]

Point no. 1)-No, I do not agree with the idea of quitting a job for trading. To me, it is a "Bubble burst."
Point no. 2)-If anyone does not follow my point 1 then point 2 to is inevitable.
Point no. 3)-In my view it is a perfect decision for the beginner( those who are dealing with the market, charts, analysis for the last two-three years). Most respected traders on earth will not thump their chest saying-"I am the best."
Therefore if point 3 is followed, then point 2 will be erased and, point 1 will be a good decision.

making buy/sell decision is easy then understanding this.

 

[manny.here]

All traders come to this dilemma of Quitting Job for being full time trader at some point in their trading career. I am no exception either.

After thinking about I took a step back and started using excel. Not for calculating how to make 1 crore or bigger number but to find out my expenses .

Breakdown of my expenses category are as follows :
1) Utility ( electricity , phone , maid , maintenance etc)
2) Food , grocery and household expenses
3) Communication & Travel Expenses of us and parents
4) Insurance ( health , life and flat )
5) Medical Expenses
6) Kids school expenses
7) Loan EMIs
8) Entertainment, Gifts, Luxury Items
9) Investment for kids school and college

Came up with my yearly expenses and monthly expense ( approximate ). Which is a huge number and almost equivalent to my salary.

After all this number crunching now I am not going to think about leaving job until I am done with below 4 points:
1) Reserve fund for one year of expenses
2) Reserve fund for any tentative large future expenses ( same amount as no 1 )
3) Closing of all loans
4) Successfully earning the above expense for at least 2 year from trading

Looks like I am going to be in job for quite sometime

Do your analysis before taking any daredevil steps. Best of luck. Not writing this to dishearten anyone but to do a a reality check before taking an emotion step.

 

[mohan.sic]

Point no. 1)-No, I do not agree with the idea of quitting a job for trading. To me, it is a "Bubble burst."
Point no. 2)-If anyone does not follow my point 1 then point 2 to is inevitable.
Point no. 3)-In my view it is a perfect decision for the beginner( those who are dealing with the market, charts, analysis for the last two-three years). Most respected traders on earth will not thump their chest saying-"I am the best."
Therefore if point 3 is followed, then point 2 will be erased and, point 1 will be a good decision.

please decode this

 

[manny.here]

please decode this

I think he is referring to your 3 points but forgot to reply on top of your mail

1) Yes it is a risky step, So what ? can anyone make fortune without risks. I would Just buy a insurance and take the risk ( insurance is the additional bank balance or other back-ups to survive and get back to work if trading fails )

2) If I fail - I will learn a painful lesson and will try not repeat such things.

3) But If I dint try - I will have to live in a fools paradise that, had if I tried I would have made a destiny.

 

[mohan.sic]

I think he is referring to your 3 points but forgot to reply on top of your mail

1) Yes it is a risky step, So what ? can anyone make fortune without risks. I would Just buy a insurance and take the risk ( insurance is the additional bank balance or other back-ups to survive and get back to work if trading fails )

2) If I fail - I will learn a painful lesson and will try not repeat such things.

3) But If I dint try - I will have to live in a fools paradise that, had if I tried I would have made a destiny.

Is it for me ? don't know. But if that it true, to identify.