Topic: Trading full time - page 8. (Read 7389 times)

Nothing works 100% of the time. Good traders have win rates in the 50-60% range which means they sustain lots of small losses. Markets are simply unpredictable, there's no way around it.

The point is to have a strategy that is empirically profitable over the long term.

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.

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

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.

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.

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?