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?
It is necessary to take into account that a job, gives stability, is a safe money, instead dedicating full time to trading is something very different, because if you get carried away by emotions you can lose all your capital and the way to recover is very difficult , you must be very expert and with great knowledge to highlight daily earnings.
I think that if there is a lot of money destined for trading without affecting the "Good" standard of living of the human being, then you can do it, but if there is no other income of money, it is difficult to make the decision, since you cannot leave everything to Luck, in trading knowing a lot, you also need a lot of luck to be successful.