Trading full time

[Mr_Akbar]

Reality check - what does it take to replace your day job?

You're out there, busting your ass, working full time to pay the bills.

On top of that, you spend a few hours trading in the evenings, and on weekends.

You’ve got a trade strategy that works, making profit as you go, and yet...

You spend 40+ hours a week working to make someone else rich.

What the hell for?

Is it the safety of a steady paycheck? Or the comfort of job security? Maybe you’re not being honest with yourself about whether or not your strategy works.

If that’s enough for you, so be it.

But it’s not for me.

Replacing that safe salary or consistent hourly wage takes only two things.

First, it takes just a little bit of math. This is really just to help with the second thing.

The math is the easy part.

Take your salary, boil it down to what you earn per day.

Chances are that it's not a very big number.

Example -
You earn 60k/year, the average American income
You work 5 days a week, 50 weeks a year - 250 days
60k/250 days = $240

When you break it down like that, replacing it becomes achievable in your mind. That mindset is way more important than the number above.

The second thing you need before you go full time is a solid plan.

That plan should include saving enough money to not have to stress about the day to day expenses.

It should also detail the minimum amount of profit you need to earn so that you can both live the lifestyle you want to live, and to keep growing your stack.

Then it’s just a matter of putting in the work to make it happen.

How close are you to going full time?

[Oyarebu]

Absolutely correct but there's some sort of risk in trading which makes many to be afraid of it. Personally I love to trade and am learning to trade but, the risk involve are high and must be taking with care or otherwise run at losse. We know the gains accrue to trading compare to our daily jobs, anyone without risk management shouldn't venture onto trade.

[peter0425]

Well goodluck to the OP if he chooses to work full-time and I understand his reasoning. However, there are a lot of members here that has the same mindset back in 2017, saying that they are going to quit there job because crypto trading was giving them more money than having a regular 8-5 job. But lo and behold, crypto winter come in 2018 so I don't know how those guys survived during that time, specially bringing food in the table for their family, just saying.

[jhenfelipe]

Trading strategy that works? Personally tbh, I doubt that there's a strategy that ALWAYS work. I do trade and I have a strategy, but there's a timing for it to work and it depends on the situation.

Full time job - stable, secure, and steady paycheck ---- Yes
Trading - it's not always a win win situation

So for me I'd rather do both, full time job and part time trading. Good luck to you anyway

[Findingnemo]

Literally I am doing trading full time but not too often.

I only do trades with certain profit margin other wise just close all my doors and keep watching my other business.

[awik p]

good thread. it was also thought about in 2017. But I think more deeply, that my real work is a hobby too, and can provide regular income every month. so I prefer the safe path, by running my two jobs, namely between trading and jobs in the real world

[Thirdspace]

You earn 60k/year, the average American income
You work 5 days a week, 50 weeks a year - 250 days
60k/250 days = $240

When you break it down like that, replacing it becomes achievable in your mind. That mindset is way more important than the number above.

The second thing you need before you go full time is a solid plan.

That plan should include saving enough money to not have to stress about the day to day expenses.

It should also detail the minimum amount of profit you need to earn so that you can both live the lifestyle you want to live, and to keep growing your stack.

you are forgetting something, you can't make it to work without initial capital
if you're aiming for $240/day and assuming this is 1%/day profit (30%/month)
then you will be needing $24,000 as initial capital to achieve your daily target
if you do have that much fund ready and can make your plan to actually work out,
you still have to face the possibility of losing your profit and capital in the single event of deep crash

are you ready for all that risk vs profit situation?
be a full time trader with possible high income/profit that comes with considerably high risk
or just work full time, get a steady paycheck that you can save or place in a long term investment

[Bitum]

You can do that in parallel today: a stable job and by the way still trades. Today there are much better ways to do that than before. It is not easy and hard to sit in front of the monitor all day.

[mamesso]

Everyone has different luck.
I think trading has a big risk, and it's not easy to get daily profits. I think that combining trading with other jobs is wiser for finance.

[EdvinZ]

A good way to try your hand at trading is trading on demo accounts. If you can trade profitably for a long time on demo accounts, you can make a real trading deposit for an amount you can afford to lose. Further, depending on the results, you can create your trading strategy and either increase or decrease funds on the trade deposit.

[dark08]

Starting capital is the most important factor in doing trading I'm not a full time trader I have a real job in real world 8hrs per day doing trading is my part time job, I dont want tobe a full time trader because its risky you dont have assurance you will earn daily or you will win its better to have a real job to support your hobby doing trading. Making money is not easy as what other imagine you need tobe hardworking and dedicated in your life to achieve your goal.

[crwth]

I have thought of this a lot, and whenever I get to think what I would do after I resign at work, I know I would be focusing on my trading and being able to focus on learning more and more to be more effective. I do agree with your mindset that you are making someone else richer by working a 9 to 5 job. What stops me right now is my study. It's making me unable to really pass a resignation letter towards the admin department.

I'm nowhere near resigning but I know what I would be doing. I guess it's best to have a backup plan whenever you make the wrong decision or something. I'm thankful with Gunbot to make trades for me even though I'm busy with work.

[samcrypto]

For me having huge capital in trading and being financially stable is the ideal thing that you must consider before doing a full time trader, this is not applicable for a bread winner like me and other hodlers here. I want to become a full time trader where I can manage my own time but the risk is high and the future of my whole family will be on risk so maybe this is not good for me also.

[Salauddin1994]

Trade can give you a lot of money but you have to remember that you have to achieve a level of skill without being able to succeed here. The efficiency here is most important because it's more like the number of lasers, as well as the number of losers.
finally focus your skill.

[Racc00n]

many people got burnt chasing the dreams of full-time trader. most of them thought it would be easy, but you need to put all your efforts, skills, time and energy to make it work.
and in the end of the day if you make one big mistake it can erase all your hardwork.
trading is not for everyone, so think twice before quiting your 9/5 

[gentlemand]

Full time trading sounds like a goddamn nightmare to me. You'd never switch off. You'd be constantly worried about being wiped out. You'd spend most of your time isolated consumed with lines and dots. That doesn't sound like much of a life to me.

By 'the time you come out of it the other side you're broke, several hundreds of kilos heavier, your skin is translucent, you don't have any friends any more and no employer will be turned on by the huge hole in your history or your swivelling eyes and twitching.

Hardly anyone lasts at trading and I wonder how many who do last regard it as a life that's fulfilling in any way at all.

[ethereumhunter]

Being trading in full time is good but only if you have skills so you can survive in any conditions. If you choose to be a full-time trader, but you don't have skills, and you don't want to learn, then you will say goodbye to your life very soon because you cannot survive. I am sure that many of us have already become a full-time trader and they have their time to analyze with their skills so they can find a good time to enter the market. You need to have a big effort to get in the market so you can trade without any problem and you can get a profit many times.

[BitcoinHunt3r]

Being trading in full time is good but only if you have skills so you can survive in any conditions. If you choose to be a full-time trader, but you don't have skills, and you don't want to learn, then you will say goodbye to your life very soon because you cannot survive. I am sure that many of us have already become a full-time trader and they have their time to analyze with their skills so they can find a good time to enter the market. You need to have a big effort to get in the market so you can trade without any problem and you can get a profit many times.

Some people who only see successful traders from their profits and not what they do to be full time trader. So a lot of people think trading is easy thing and then they leave their job maybe to focus on full time trading. And like what you said, can't survived.

[Harlot]

I love your enthusiasm but on realoty day trading isn't really for everyon much more if your permanent job is on the line. You make it sound like that these aspiring traders only needs a strategy and a plan to earn in day trading but the truth is there is no guarantee that you will earn from your day trade even if you have a strategy or knows technical analysis very well. For people who want to day trade I just want to say try it out firat in a portfolio management app to see if you can really earn from it based on how you trade.

[Salauddin1994]

Being trading in full time is good but only if you have skills so you can survive in any conditions. If you choose to be a full-time trader, but you don't have skills, and you don't want to learn, then you will say goodbye to your life very soon because you cannot survive. I am sure that many of us have already become a full-time trader and they have their time to analyze with their skills so they can find a good time to enter the market. You need to have a big effort to get in the market so you can trade without any problem and you can get a profit many times.

Some people who only see successful traders from their profits and not what they do to be full time trader. So a lot of people think trading is easy thing and then they leave their job maybe to focus on full time trading. And like what you said, can't survived.

Only get profit not means a full time trader still have a lot of  signal group premium and free, profit is not main fact main fact is skill get professional trader not easy  if you want full time trader read,learn and practice then decision .