Who trades full-time?

[pavilion103]

I think it can be done from end of day trading.

I think it's all relative to capital though. The guy who makes 250k a year trading intra day with a small capital base is a much better trader than the old guy sitting @ home with 5 mill in his super fund collecting 250k a year in dividends and claiming to be a trader.

There is also the tradeoff of time commitment.

It depends what someone means by trading full time.

Do they want to be at a screen for 10-12 hours per day?
Or do they want to trade in a way that requires far less time commitment at the screen?

It depends what we are talking about here.

 

[beachlife]

I am talking about trading being the only source of income.

 

[kid hustlr]

I am talking about trading being the only source of income.

As was I, and as I said I think it can be done.

 

[skyQuake]

Trading for a firm deals with the problem fairly well.
- Your capital becomes (near) unlimited
- Your living expenses do not affect your capital base
- There is arguably less pressure than trading your own money
- More opportunities eg cap raisings/crossings/deals depending on the firm

 

[tech/a]

Trading for a firm deals with the problem fairly well.
- Your capital becomes (near) unlimited
- Your living expenses do not affect your capital base
- There is arguably less pressure than trading your own money
- More opportunities eg cap raisings/crossings/deals depending on the firm

Yeh I can see the benefits but your just an employee with a budget.
If you can trade prop and you can pull $50k in a week helping out mates like TH
used to do I can't see why in a few years you wouldn't be in Vanuatu trading tax free.
You'd have enough to structure a damned good business.

 

[minwa]

Does anyone here believe that a living can be made from end of day trading or is the consensus that only high frequency intra day trading is the way?

My options account for last year, none of it is day trading.





This is the absolute deal breaker..You must have flexibility to deal with all sorts of markets to keep draw downs low. Being balanced long/short/sideways is the key (with a bias towards your directional bias), for EOD trading I only know how to achieve that through options. Some people call it portfolio balancing the Greeks and all that options mumbo jumbo, I don't really look at them but the underlying principle is the same. I will evaluate seriously at shutting down my account when they hit -10%.

I am not married so that really helps with the expenses. I am also studying at uni and work a part time job in a field that I would like to start business in future.

However FYI I also day(night) trade the ES. Although 80% of my day trading is only in the opening or closing range, first one or two hours and last hour. Only a little of the time does it run past US lunchtime due to strong trend and if that happens I stay up all night until the trade is closed if I am not doing anything the next day. Otherwise just trail stop and go to sleep (or attempt - try sleeping when a strong trend runs in your favour...

Daytrading along with position trading I believe has the best balance to create a balanced stable sole trading income.

I shift capital allocations at start of every year. From my aggressive accounts to core position holdings, in other words I do not keep all the profits in my trading accounts, I only increase it depending on a fraction of the profits. I don't really want to call it investments, they are ready to sell at any moment. I write options on these when the markets are favourable and have puts on them when the markets are not.

 

[tech/a]

This is the absolute deal breaker..You must have flexibility to deal with all sorts of markets to keep draw downs low. Being balanced long/short/sideways is the key (with a bias towards your directional bias),

Daytrading along with position trading I believe has the best balance to create a balanced stable sole trading income.

Some great points here.
Thanks Minwa

 

[William B]

I am a full time trader and really enjoy Forex. Forex is the largest online business in the world and very popular in the people.People want to make money and Forex is a good way to make good and solid money. But you need good understanding of Forex to be successful in Forex.

 

[barney]

I am a full time trader and really enjoy Forex. Forex is the largest online business in the world and very popular in the people.People want to make money and Forex is a good way to make good and solid money. But you need good understanding of Forex to be successful in Forex.

Welcome William ... Out of interest, what would you say are the most important ingredients for someone to become successful at Forex trading ..... also any light bulb moments that took you from non-profitable to profitable?

Cheers.

 

[CanOz]

Welcome William ... Out of interest, what would you say are the most important ingredients for someone to become successful at Forex trading ..... also any light bulb moments that took you from non-profitable to profitable?

Cheers.

William hey? William B as in Bot?

 

[barney]

William hey? William B as in Bot?

I was fishing also Can .... Grammatical errors, full time trader, only second post ..... mmmm

 

[CanOz]

I was fishing also Can .... Grammatical errors, full time trader, only second post ..... mmmm

Bit of a give away hey Barney ... lol

 

[darkhorse70]

Hahaha ^