I notice a lot of people on here and in other forums who wants to use trading as their sole income generating tool. Their dreams are to give up the "day job" BUT isnt this just changing from one day job to another?
What if you became ill or have an accident or some misshap? The way I see it is trading is not that different from doing a dayjob apart from you are working for yourself instead of for Joe Grind. Havent you heard (not all of you) of the income triangle. With the income triangle you have 3 forms of incomes where trading could be one of them, therefore if your trading isnt going well for one reason or the other at least you have another 2 income to fall back on. As well as there is less pressure on you to get that 50 pips every day. An example is I was reading a thread where someone claims that he was making constant pips every day but he only trade part-time and some cynic posted asking if he is doing that well why not jack the day job in. I thought this was a bit short-sighted of the poster. After-all the biggest complains that I see successful traders complains about is how lonely and boring trading is and that they keep their sanity by visiting trading forums. I can see where they are coming from, I wish I was a successsful trader but I doubt if I would give up the dayjob since I need to interact with different people on a daily basic. I would love for trading to be one of my 3 incomes instead of my sole income, This would means I dont have to worry too much about loosing my main job especially with this looming economic deflation that the media has been talking about.
What if you became ill or have an accident or some misshap? The way I see it is trading is not that different from doing a dayjob apart from you are working for yourself instead of for Joe Grind. Havent you heard (not all of you) of the income triangle. With the income triangle you have 3 forms of incomes where trading could be one of them, therefore if your trading isnt going well for one reason or the other at least you have another 2 income to fall back on. As well as there is less pressure on you to get that 50 pips every day. An example is I was reading a thread where someone claims that he was making constant pips every day but he only trade part-time and some cynic posted asking if he is doing that well why not jack the day job in. I thought this was a bit short-sighted of the poster. After-all the biggest complains that I see successful traders complains about is how lonely and boring trading is and that they keep their sanity by visiting trading forums. I can see where they are coming from, I wish I was a successsful trader but I doubt if I would give up the dayjob since I need to interact with different people on a daily basic. I would love for trading to be one of my 3 incomes instead of my sole income, This would means I dont have to worry too much about loosing my main job especially with this looming economic deflation that the media has been talking about.