Hi,
Before I start typing kindly let me make it clear that I am not trying to tear down the person who posted the above just trying to show the pitfalls of that particular piece of advice.
I am sure that the person who has posted the quoted words is may be in late teens to early twenties. Till about two years back I could very well have posted the above.
An entrepreneur is a person who takes a risk after calculating the probability of success and that of starting over if losses are incurred. I assume that the example of a law firm was taken at random, thus i will not comment on the fact that a law firm would not be in the realm of entrepreneurship.
Coming to the part about drop everything and start trading:
Tendulkar was a school going kid who played cricket. Then he started excelling at cricket but he was still a student. Then when he was at a level where his success as a cricketer could not have been in doubt he took the plunge and came to be what we know him as today.
Lets look at the various rounds of preparation he must have gone through:
Wake up before school to practice.
Go for training after school.
Play matches at every possible level
Achieve feats no one else has.
Reach Ranji level
Reach India level.
Even our cricketer's including virender sehwag hold down jobs.
I guess thats enuf to get my point accross.
We live in a society in which we have responsibilities no matter what age we are. It may be towards our parents or towards spouse and children.
An individual without the proper financial backing and planning would find it not only difficult but near impossible to survive in any capital market.
I have a lot of respect for Saint, and even in his post you may notice that
he didn't exactly stop being a Doctor till the time he was sure that his passion of trading was not just a passion but also something that could be converted into a full time financially sound trading model which he has not only traded but taught many in this forum.
Again I would like to repeat that this not to tear down the poster but sometihng which I have seen often in young traders including me and their subsequent falls.
Trading is one of the greatest fields to get into but you need to make sure you have the mental make-up to take the stress and the ability to cut losses and take profits.
Regards
Neo
