Can I make a living out of Trading only?

[trump]

Can I make a living out of trading only, means can I make trading my sole income source and quit my regular job?
If thats possible what are the various factors to be considered before quitting the regular job?
Please share your thoughts and opinions.
I am planning to quit my job early, but it seems a dream to me.
How much capital is required approximately to go for full time trading?

 

[Sunny1]

what are you joking.....you can make luxury living for your next 100 generation from trading.. but only if do it right. otherwise you will make those 100 generation poor.

there are very less trader who are immune from greed, fear hope and other emotional attitude.
and even less trader who have perfected the art of reading price volume.

for average trader it is best to stick to good technical system and grow by compounding.

dont quite job your as of now . you are yet to experience fall in trading

profiting is not much difficult if you stick to your basics all the time.

 

[trump]

Drawdowns and losses are regular part of trading, one has to stand that.as you say its a double edged sword, it can wipe out or fulfill the dreams, but its highly risky.Growing by compounding is an excellent way to forge ahead as you have pointed out.again in your opinion profiting isn't difficult if one knows how.That how is the edge IMO.by the way are you a full time trader?

 

[sumosanammain]

Drawdowns and losses are regular part of trading, one has to stand that.as you say its a double edged sword, it can wipe out or fulfill the dreams, but its highly risky.Growing by compounding is an excellent way to forge ahead as you have pointed out.again in your opinion profiting isn't difficult if one knows how.That how is the edge IMO.by the way are you a full time trader?

Define full time trader.

Suppose someone gets interest income sufficient to take care of his expenses, and then he sits all day in front of the computer and trades, is he a full time trader?

Or, a person who has people taking care of his business, he sits at home in front of his computer and trades all day. Is he a full time trader?

Or, a person has no source of income, sits in front of the computer, TRYING to trade for a LIVING.... is he a full time trader?

Guess who is going to survice for a longer time in the learning phase of about 5 years? YES... you read it right. F I V E Y E A R S.

Or maybe you have rich inlaws Then you can be a full time anything you want

 

[SB2000]

Since we are in the same boat, here is what i am doing before pulling that trigger:

1) Make sure you have enough capital to protect your family in case your rades make you bankrupt. Always, keep your family first.

2) Treat it as a business and not as a gambling. Have a well thought out plan before each day. Stick to it.

3) Dont over-trade. If I have three stop-losses for the day, I am out, no matter what my "ego" says.

4) Make sure atleast you know and have applied some of the technical analysis or charting stuff on real trades. Paper trades dont work and should not be used as a reason to quit your job.

5) Read about some of the awesome stuff floating around on this forum.

As for me, my company is about to be shut down and I am not looking out for a job. I have a wife and kid to support, and still I will be taking this up as a profession because trading for me is not about making money, its a passion. If you are passionate about your job, money would follow.

And yes......Trading does make you rich, only if there is no Gordon Gekko in you

 

[trader.trends]

And yes......Trading does make you rich, only if there is no Gordon Gekko in you

And there are many different varieties of Gordon Gekkos inside us

Some urge you to make an entry before you get the signal on your system - "Anyway my system is going to trigger so why not enter now and make a few more points"

Another variety makes you exit a profitable trade a tad bit earlier, "Market is set to reverse. see that momentum. Get out now even though the system says hold on. I can book now else I will get less when the system triggers a closure"

Both the above varieties urge us to beat our own system which we have backtested so rigorously.

The third variety a real danger makes us take trades on untested/partially tested/test-in-progress system, as we wait for our system to trigger.

 

[ValueZone]

Answer to ur question is certainty yes

Before quitting ur job - Do u you have a strategy that can make money consistently and did u verified it real-time over a reasonable period of time. If your have not got one then start ur learning journey, it takes many years and effort.

 

[kaly422000]

chek wheather u r emotionally fit for trading by trading small amount . make ur own strateji and also keep the money management as the first cryteria.its my view only

 

[trump]

Answer to ur question is certainty yes

Before quitting ur job - Do u you have a strategy that can make money consistently and did u verified it real-time over a reasonable period of time. If your have not got one then start ur learning journey, it takes many years and effort.

out of many posted here this makes real sense, others are philosophical at best.
Thats to know what works in the mkt instead of taking a plunge like that.:clapping:
Also what ever income from mkt should be more than what I earn from my job.
But my point was that how many of you are really doing it , but instead people started to give advices which are already available in plenty.

 

[trump]

Define full time trader.

Suppose someone gets interest income sufficient to take care of his expenses, and then he sits all day in front of the computer and trades, is he a full time trader?

Or, a person who has people taking care of his business, he sits at home in front of his computer and trades all day. Is he a full time trader?

Or, a person has no source of income, sits in front of the computer, TRYING to trade for a LIVING.... is he a full time trader?

Guess who is going to survice for a longer time in the learning phase of about 5 years? YES... you read it right. F I V E Y E A R S.

Or maybe you have rich inlaws Then you can be a full time anything you want

forget the definitions and thoughts , are you doing it for real?