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Quit Job , go Back to School, Trade Forex?

Quoting I Wanna Trade
Hey all,

I need some psychoanalyis time on the couch from some pro traders. I absolutely hate my job and have been wanting out of it for a long time. I have no future in this job and it's doing nothing developmental or productive for me other than give me a paycheck. I have a social sciences degree so I don't have many options right now. I want to transition to the financial industry as that's where my passion is i.e. stock market or forex, or possibly trade on my own. I'm taking finance graduate classes part time right now but want to quit my job and go full time to get things done faster and get moving into something I like, and fully involve myself and develop my trading skills day in and day out. That way I'd be getting two educations, one in school as a primary plan, and one in real life trading as a secondary plan. The problem is that this is obviously not financially smart. Right now I have four strategies in forex that are posting winning records for two months (284 total pips), and I'd like to spend more time testing and developing them, but it's hard to fully do that with my job. I'd like to be able to do full testing and development for at least 6-8 months, and if I post a profit then I'll put a large sum of money in my account. I know that I should stick with my job for the financial security and just take night classes and trade and learn when I have time, but I'd like to hear any contrarian opinions from anyone who's experienced in making such decisions, or feels they could tell me if the benefit outweighs the risk/financial burden or vice-versa.

Any thoughts?
OK, Here's the deal.

Aura appears in the sky and symphonic music plays as if from nowhere...
I told you this when I brought you into this world: If you remember?
You get one lifetime at a time to live. {at least, most of you do}
I also told you it is solely under your control how you live this life. Race for Purpose, Spectate and Cheer or simply lay on the couch.
Why are you asking a group that is comprised of Traders, Speculators [albeit, some of the pretty good] and Gamblers what You shoud do with Your Life.
I really do expect that any answer you get to this request (including mine) will appear to be flawed and THAT will be your reason to continue on your present path
Don't get too upset. I once tried an accounting career and lasted 4 days before I realized it was not for me

Center yourself for happiness
Quoting Bemac
OK, Here's the deal.

Aura appears in the sky and symphonic music plays as if from nowhere...
I told you this when I brought you into this world: If you remember?
You get one lifetime at a time to live. {at least, most of you do}
I also told you it is solely under your control how you live this life. Race for Purpose, Spectate and Cheer or simply lay on the couch.
...Center yourself for happiness
Thank you, uhhhh, God? Is that you? I guess I didn't figure you to be in a forex forum but I can see why the forex environment can involve a lot of praying.

I'm trying to center myself on happiness, but everyone around strongly and ferociously tells me I have to do the "smart" thing and tough it out at work, pay the bills, and try to slowly transition into something else. This with no kids, wife, mortgage, etc. at 29 years old I'm not sure I see the importance of that. Anyways, thanks for the post. I'm here on this forum asking this question to help develop and organize my thoughts on the matter and get a different perspective on things, especially from those with empathy and experience in what I'm going through. So far, it's been very helpful and I thank everyone's great input
Quoting mbqb11
This is never something anyone can answer online, but I understand you are more looking to talk out your own thoughts really.

I will say one thing if you are passionate and hardworking, nothing should prevent you from accomplishing your goals and you will do what it takes.

Playing it "safe" is for most. But don't take risks where you can't feed yourself and pay your bills. Gotta find that medium. Trust your gut.


I wish you very much success,
Mike

Thanks Mike.
Quoting I Wanna Trade
Hey all,

I need some psychoanalyis time on the couch from some pro traders. I absolutely hate my job and have been wanting out of it for a long time. I have no future in this job and it's doing nothing developmental or productive for me other than give me a paycheck. I have a social sciences degree so I don't have many options right now. I want to transition to the financial industry as that's where my passion is i.e. stock market or forex, or possibly trade on my own. I'm taking finance graduate classes part time right now but want to quit my job and go full time to get things done faster and get moving into something I like, and fully involve myself and develop my trading skills day in and day out. That way I'd be getting two educations, one in school as a primary plan, and one in real life trading as a secondary plan. The problem is that this is obviously not financially smart. Right now I have four strategies in forex that are posting winning records for two months (284 total pips), and I'd like to spend more time testing and developing them, but it's hard to fully do that with my job. I'd like to be able to do full testing and development for at least 6-8 months, and if I post a profit then I'll put a large sum of money in my account. I know that I should stick with my job for the financial security and just take night classes and trade and learn when I have time, but I'd like to hear any contrarian opinions from anyone who's experienced in making such decisions, or feels they could tell me if the benefit outweighs the risk/financial burden or vice-versa.

Any thoughts?
feel free to jump right into trading. drop everything else in life and go for it

you have a 5% chance of making it and 95% of a 3 month vacation

hehe, not trying to be mean here, but what you should really do is keep what you are doing and treat this like a side business you are opening while working full time. for every 2$ you make in forex you can take off 1$ of real world slavery. by the time you buy your way out of slavery you should be sitting good
I would echo a few others keep the job for now. If it's the place you are working then maybe put some time into finding a new place too work. If it's just the job, stick it out. It sucks but you have too pay bills somehow and a job right now is a certainty while forex is still a question mark.
Quoting witchazel
feel free to jump right into trading. drop everything else in life and go for it

you have a 5% chance of making it and 95% of a 3 month vacation

hehe, not trying to be mean here, but what you should really do is keep what you are doing and treat this like a side business you are opening while working full time. for every 2$ you make in forex you can take off 1$ of real world slavery. by the time you buy your way out of slavery you should be sitting good
LOL, that's awesome! One thing I'd say is that I'm not necessarily trying to quit JUST to trade, the primary focus is to quit and go to school and get my masters in finance to change career fields at least, in case trading doesn't work out. I'll be living off student loans and a part time job. Trading would be a side issue that, with any luck, will turn into something good. If not, so what, I get my masters and change career fields. The main problems though are running out of capital and becoming unable to trade.

Thanks for your post. I must say, the whole indentured servant type perspective is not one I never considered before, but it certainly gives me another slant on things if I stick out my sorry 9-5. Good post
Quoting shadeslay
I would echo a few others keep the job for now. If it's the place you are working then maybe put some time into finding a new place too work. If it's just the job, stick it out. It sucks but you have too pay bills somehow and a job right now is a certainty while forex is still a question mark.
True that.
I am exactly going to do that. I am going to earn my MBA and I will trade forex. It's pretty easy I think. Forex doesn't take that much time and gives enough money to make a living.
Your trading account exemplifies your trading commitment and success.
Success in a nut shell is a consistently growing 4X account. This means
you are trading right, which by the way is the name of the book I am currently writing called "Trade Right". It took me three years to develop a reliable trading method. There are so many people trying to tell you how to trade. Truth is you must find your own goal mine methodology.

No one will be believe what I have discovered. In fact, I couldn't belive it myself. Once my book hits the market I will be deemed a 21 century 4X genious. OK, I'll tell you what i've discovered. There is a finite pattern
in a random sequence. Even Albert Einstien missed this one. You will see
this illustrated when my book is released.

So Long all you traders ...

It's time for Whirlwind to blow.
Quote
In my experience, trading done right seems sort of anti-climatic... system signal says BUY... I buy... if it says SELL... I sell. Yeah... I take profit now... but it was NO WHERE NEAR AS EXCITING as taking those super "risk-it-all" trades that tended to take me outta the game.
__________________
...AggieTrader...

You want excitement? Go buy 1000 shares of GOOG!
I like the way you think, AggieTrader.

Quote
I must say, the whole indentured servant type perspective is not one I never considered before, but it certainly gives me another slant on things if I stick out my sorry 9-5. Good post

Hey, I Wanna Trade, sounds like you already have made a decision. You'll find a way to make it work. Be reasonable in your approach. Remember all those guys that quit their jobs to day trade tech stocks back around the turn of the century? Any idea where they are now? Build a foundation for your life.
Best of luck...
I suggest you read: Adventures of a Currency Trader: A Fable about Trading, Courage, and Doing the Right Thing (Wiley Trading) by Rob Booker


Thanks,
Brett
After 3-4 years.. I'm wondering what happened !!!
One thing that didn't happen - I never sent highway my daughters address.
In trading, there is no bullshit. You either make money or you don't.
  • Post #34
  • Quote
  • Last Post: Dec 19, 2009 10:47pm Dec 19, 2009 10:47pm
Quoting mrgreen
One thing that didn't happen - I never sent highway my daughters address.
I'm guessing it did not go as planned... LOL
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