Full Timers/Professionals

[Mofra]

A question for those who trade full time for a living,

How many years after you started trading did you make the switch to trading professionally for a living? If you had your time again, would you have done so at the same time or earlier/later?

Thanks in advance,

Mofra

 

[canny]

Re: Full Timers / Professionals

Mofra - I traded part time for 5 years, then made the switch.
It's great for me!

 

[tech/a]

Re: Full Timers / Professionals

Ive traded profitably for 3 yrs and long term with sizable funds on Margin.

Profits equate to a few average wages.
However I couldnt think of anything worse than to trade fulltime.
Its as boring as anything Ive ever done!
Takes 20 mins tops a day and I only have limited friends who can get away for golf or any other recreation during the day.

It sits in the background has positive and negative weeks while I continue in fields that really hold a challenge.Business--Property.

As a business it has many positives.
High liquidity,no staff,no clients,no overheads.So can see the appeal.
But you can be as successful as any fulltime trader without turning to it as your sole profession.

Those with limited initial capital and short timeframes would be lured to the trading as a future business appeal,I think,and they are the ones with the biggest uphill battle.

Starting or buying a business with $50000 or $500000 which do you think has the best potential for successfully generating a decent wage?

150% of 50K a year
OR
15% of 500K

tech

 

[wayneL]

Re: Full Timers / Professionals

Another point of view...

I wouldn't be in conventional business for love nor money. I can understand people like tech being different and relishing in running an enterprise...my old man was the same. He could never have been a full time trader cause he loved business, doing deals, interacting etc.

Not this black duck!

Been there done that and just don't enjoy it....and working for someone else?:22_yikes: I'd rather consume ratsak!

I like being able to hide in my cave all by myself and make money. It's the ideal lifestyle for a certain type of person...I enjoy not having to put on a front.

As far as being glued to the screen for hours at a time....well that's not really the case unless daytrading. Fun for a few days a year but becomes a job if you do it all the time.

>>150% of 50K a year
OR
15% of 500K<<

Can I have 150% of 500k?

 

[canny]

Re: Full Timers / Professionals

Agree Wayne - a full time trader doesn't have to sit glued to a screen, nor worship every hour the ASX is open.
I try a do a daily scan of price & volume increases - (5 minutes) - look at the charts of any I'm not already familiar with, and check if there's anything that really deserves some of my cash for a while - then basically trust your judgement.

I love it!

 

[DTM]

Re: Full Timers / Professionals

A question for those who trade full time for a living,

How many years after you started trading did you make the switch to trading professionally for a living? If you had your time again, would you have done so at the same time or earlier/later?

Thanks in advance,

Mofra

I basically dived in without experience. I studied the market movements every day for three months before I started trading. I have been trading full time since October last year and have done very well, averaging 50 to 70% every month. Only one month (January) I lost money, and that was because I bought a lot of shares which tied up most of my capital ( I work off a small capital base). It caused me to take more risks than normal in trying to build up my capital base again.

I find that trading options make it easier to make these kind of returns. Of course if you get it wrong, you lose your money. More risk = more profit/loss. I am still learning and find that when I get complacent, the market tends to run me over. The good thing I get out of it is that it drives me to learn more hence it improves my trading.

I enjoy day trading at the moment because I get to spend all my time with my family and it gives me great flexibility. I can get out and about whenever I want to eg just drop everything and go to the beach with the wife and kids.

To me, real wealth in is created in a business and I enjoy being in a business enviroment. I would like to be in a business in the long term. In the short to medium term, I want to increase my trading skills and increase the different instruments I trade in eg fx and futures.

If I had my chance to do it again, I wouldn't change a thing. ie Become an accountant, have good job qualifications and work experience, and then become a trader. If you started out as a trader and after 10 years wanted to change what you do, it would be too difficult change. ie no work experience, qualifications etc.

 

[Jett_Star]

Re: Full Timers / Professionals

>>150% of 50K a year
OR
15% of 500K<<

Can I have 150% of 500k?

I'll have what he is having x 2