Dislikedwell i guess i've been guessing and gambling the last 6 years of trading.
I have this magic number that i want my account to reach at before i quit. BY quitting, i mean actively quit from daytrading. I always have this cautionary fear that brokers can go bust and your 'account' which is nothing more than just electronic nubmers can dissapear just like that.
I want to use the money to invest in hard tangible asssets (properties, land, etc.) At least those things don't just dissapear in thin air..(maybe during a nuke)Ignored
As a trader, I share your concerns (especially as some big banks have collapsed during the current crisis), and I believe there's a good case for diversification across multiple br0kers, and/or maintaining only enough funds with any br0ker to avoid a margin call.
My "gamblers" comment was aimed more at those who quit because they have reason to be afraid that their strategy may no longer work profitably tomorrow. Or, for example, martingale traders who withdraw money periodically because their account could implode at any point.
If a trader has a profitable strategy, and employs safe risk management, then whether, or when, to quit is obviously a personal decision.