Can I make a living out of Trading 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.

its encouraging to see many yes here, like any other profession it would take its time to reach the level of proficiency one aims for and it may take more than that, its an probabilistic arena where there are no guarantees only more probable situations.Its always a pleasure to hear from those who are really doing it and have been doing it since quite a few time.That way many assumptions, predispositions and misconceptions would be cleared for the aspiring ones.either way its a long journey to be taken with dedication.Few posts or even few books will not make me a pro.There are more to it.
There are many who can advise but very few would guide.

warm regards and happy trading all.

 

[trump]

If all want to make profit only, then who else is left for the loss side.

 

[Deidra575]

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?

 

[gnagpal843]

no dear jst treat it like a hobby

 

[trump]

if its a hobby then a costly one for sure.

 

[NTrader42]

if its a hobby then a costly one for sure.

Hello Trump

Very few treat it as business. Some would say they treat it as business but then go ahead and expect to make huge %s on the capital they are deploying.
We all know trading is tough, but the kind of ROI that traders expect makes it even tougher to achieve.

Just as an example take a case of a trader trading NF with a capital of say 1L trades a daily TF swing system that expects to get on average 500 points annually.

What do you think his position sizing should be, will he be happy with trading only 1 lot? will he be happy with prospects of earning just 25% on his investment? Even with this small size, do you think he can survive a draw down of 25% or 3 negative quarters in a row?

Well, calling it a hobby is far better than calling it a business as a lip service and doing everything against the basics principles of running a business.

If we remove the hobby types, I don't think the success rate for a trader is as bad as commonly proclaimed, anyway, what do i know, i just have a sample size of one

Cheers

Happy Trading :thumb:

 

[Piratetrader]

You need to treat this as a business if you are serious about it and not as a hobby if you want to make a living out of it

 

[Sunny1]

You will make money if you treat it as hobby...IMO

 

[trump]

be it part time, or hobby or for a living, but trading is an arduous task for sure, takes years of practice , practice and practice to hv some proficiency in it.anything can be done but only after gaining certain level of proficiency in it, and as per perception of many trading is very deceptive and seems very easy if someone looks at the chart after all the action has already taken place , but its exactly the opposite, to do it in real time with real money is no easy task for sure even with all the analytical arsenals in your hand.the dangers/risks are very real, and you never know from which direction they would come in suddenly, be it network failure, software hang, slippage, order freeze, power failure , stop run etc etc, and the oppertunity window only opens for a fraction of second only, so think about it.

 

[Sunny1]

be it part time, or hobby or for a living, but trading is an arduous task for sure, takes years of practice , practice and practice to hv some proficiency in it.anything can be done but only after gaining certain level of proficiency in it, and as per perception of many trading is very deceptive and seems very easy if someone looks at the chart after all the action has already taken place , but its exactly the opposite, to do it in real time with real money is no easy task for sure even with all the analytical arsenals in your hand.the dangers/risks are very real, and you never know from which direction they would come in suddenly, be it network failure, software hang, slippage, order freeze, power failure , stop run etc etc, and the oppertunity window only opens for a fraction of second only, so think about it.

opportunity windows does not open for fraction of second....its our mind who opens up for fraction of a second....and we think that opportunity window has opened for fraction of a second. :lol: