DislikedHey Dude, how far are you from trading fulltime? I like the fact that you're not letting setbacks deter you from your goal. Forget the negativity. You can get there.Ignored
But to answer your question - I think personally I would need to trade fx from about a $50k account to reliably be able to make a living and save out about one out of every 4 pips earned to pay the tax man. I am still trading max. 1 std. lot per $5k of account @ 50:1 leverage. At that rate I will be at $50/pip max early next year. Shooting for min. 20 pips a day at that level and to keep growing the trading equity - I think anyone should be able to do that after they have cut their teeth trading for a year or so. Just be careful and don't give any/much of it back.
I don't really know if I would want to trade full time. Aside from the prudence of having other sources of income besides trading, for me personally I just get bored with it when it becomes a 8-hr/day job. Time zone issues also factor in & I am not sure I am ready to move just to accomodate trading.
Meanwhile trading hours are very curtailed - currently I am overextended with the other business I have but that will pass around December. I am still considering setting up a pool and soliciting investor funds but I do not have the trading record to support that quest. Not so much that I have not realized good returns but the drawdown numbers are still a little scary and that is something I am concentrating on bringing into tighter rein.
Anyway, that's where I'm at these days. TurveyD, hang in there man. Its worth it to build up some decent sized equity to trade from and until you're there just stay in the game a bit until you are ready to come back seriously.
Good Luck all.
"If The Fool persists in his Folly he will become wise." - William Blake