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I have a profitable trading strategy. Should I quit my job?

  • #41
  • Jul 11, 2012 11:48am Jul 11, 2012 11:48am
Quoting Custos
well, if you gonna quote something, then do it in a correct way: "patience Daniel-san"
ahahaha lol..that's funny man..
  • #42
  • Jul 11, 2012 10:07pm Jul 11, 2012 10:07pm
If you are asking this question then you are not ready yet. Anyway, the point at which you can quit your job is when you are making so much more money from trading that it just doesn't make any sense to go to work.
  • #43
  • Jul 11, 2012 10:57pm Jul 11, 2012 10:57pm
Quoting calamardo
Anyway, the point at which you can quit your job is when you are making so much more money from trading that it just doesn't make any sense to go to work.
I would disagree with this.

If you can make enough money (NOT so much) from forex, which can sustain your lifestyle and save for rainy days and enjoy the freedom then trade full time. What is SO MUCH MORE MONEY? it is feeding the endless emptiness. You only live once and if you have the opportunity then go for it.

Take an unpaid leave for 3 months if that is possible, then evaluate your trading results for having to trade without the guarantee of income from work. If you can handle the stress of having no guaranteed income, then you're ready
Fear prevent possibilities, and so does Greed
  • #44
  • Jul 11, 2012 11:40pm Jul 11, 2012 11:40pm
I can't add much to what's already been said but I struggle with the same thing. I'm a software developer for a fortune 200 company that has been on the list of top 100 places to work for 10 consecutive years so I have a well paying stable job that offers lots of freedom... yet my dream, my passion is trading. I haven't been consistently profitable enough yet to quit but I know I will get there one day. I've branched out from Forex in recent months to try and have more than one income from trading. I've had systems and EAs that worked well for periods of time and then performed poorly for periods of time. Hopefully when I hit a rough Forex cycle my other investment type will do well... we shall see.

I would follow the advice of many people on here and take leave or a long vacation and try it out first. While your profits are good, the max DD would be enough to keep me from quitting entirely right now. Think about how to generate more than one income stream, I wouldn't risk all on my one Forex system.
  • #45
  • Jul 12, 2012 12:48am Jul 12, 2012 12:48am
Quoting yunben
My strategy is very simple. It is a sure-win strategy. But it requires long time observation on different market condition, and good money management. I think if it works forever, it is very easy to earn over 30% yearly. Actually I am quite wondering why so many hedge fund can't earn over 20% yearly.
This is a total wrong comparison.
Hedge funds make way more than 20% but they have huge operating costs, for IT, office / hard- & software and the 10s of millions of dollars in salaries, bonuses and so on. I know a founder of a hedge fund here in my town who personally takes out $20 million $$'s per month.
He owns a $35 million home 10 miles from where I live with his jet, yacht and collects Ferrari's in his free time. He's in his 60s and married a chick few years back where he had Elton John on his wedding party for the music.

The 20% or less what the public hears is after all those lavish expenses.
If they make 50% they just give more bonuses.
New voice message: Why are you calling me? If I need you, I'll call you!
  • #46
  • Jul 13, 2012 5:05am Jul 13, 2012 5:05am
Yuben famous last words:
"It is a sure-win strategy"
  • #47
  • Jul 13, 2012 12:12pm Jul 13, 2012 12:12pm
Quoting yunben
Hi, I am a senior engineer in an IT company with salary about USD$60,000. I have been trading Forex/gold/oil at part time after work time for two years. I developed a good strategy and applied it (it is countertrend). For the last 15 months, it works perfectly and makes consistent profit. The system includes when to enter the market, how to set stop loss, how to set stop profit. The temporary loss can be set to 15% with margin.

The past profit is listed monthly as follows. part time trading only (manual trading after working hour).

Forex.com...
Very interesting !
On Earning : Never Depend on single income. Make investment to create a second source...... Warren Buffet.
If you don't mind, can you share your profitable strategy?
It will be helpful to struggler's in Forex Market including me.
  • #48
  • Jul 16, 2012 3:53am Jul 16, 2012 3:53am
Quoting yunben
Hi, I am a senior engineer in an IT company with salary about USD$60,000. I have been trading Forex/gold/oil at part time after work time for two years. I developed a good strategy and applied it (it is countertrend). For the last 15 months, it works perfectly and makes consistent profit. The system includes when to enter the market, how to set stop loss, how to set stop profit. The temporary loss can be set to 15% with margin.

The past profit is listed monthly as follows. part time trading only (manual trading after working hour).

Forex.com...
That are very consistant results If you really believe in your strategy i would recommend to you to stay in the job for another year and for the year period try to find some investors, prove them your results, by this way you can increase your capital to 1 million $ and start to play bigger game

Once your investors will be satisfied you will easily get more investors. (the hardest thing, is to find the first one)
  • #49
  • Jul 17, 2012 7:12am Jul 17, 2012 7:12am
Quoting yunben
Hi, I am a senior engineer in an IT company with salary about USD$60,000. I have been trading Forex/gold/oil at part time after work time for two years. I developed a good strategy and applied it (it is countertrend). For the last 15 months, it works perfectly and makes consistent profit. The system includes when to enter the market, how to set stop loss, how to set stop profit. The temporary loss can be set to 15% with margin.

The past profit is listed monthly as follows. part time trading only (manual trading after working hour).

Forex.com...
Keep doing what you do, that is good returns you getting. But I would definitely encourage you to keep your day job, especially when you have a family to look after. Do this as part time and continue building your knowledge. Never and Never work for a bank or firm once you become successful in the business. What is the point!!!! The aim is to free yourself from the 9-5 slavery and once you gained to break from that, you then want to come back to it again??? :-) Once you are successful, you are your own boss, work anytime you feel like with no restrictions :-)
Time Is Money
  • #50
  • Jul 17, 2012 4:04pm Jul 17, 2012 4:04pm
Don't quit your job. You can do trading in the evenings or in the mornings. Psychologically it is better to have an additional source of income.
  • #51
  • Jul 17, 2012 9:57pm Jul 17, 2012 9:57pm
if you feel that you are more secure with your strategy, then you can quit your other job...
  • #52
  • Jul 18, 2012 11:55am Jul 18, 2012 11:55am
I guess if you had tested your strategy for a period of time and it has been profitable I guess at some point you need to take a risk and go for your dream. So go ahead if that is what you want! Good luck!
  • #53
  • Jul 22, 2012 11:03am Jul 22, 2012 11:03am
@yunben: don't quit your regular job. you can learn from cherrycoke (she's also from singapore) how to earn more than what you've earned in shorter period. visit BOD and you will see...
botsog
  • #54
  • Jul 23, 2012 12:30pm Jul 23, 2012 12:30pm
you are not ready.. you have only 1 strategy. check other markets, futures options or stocks. IMO you need 1 or 2 more that are profitable
  • #55
  • Jul 23, 2012 9:28pm Jul 23, 2012 9:28pm
Quoting Madhat
you are not ready.. you have only 1 strategy. check other markets, futures options or stocks. IMO you need 1 or 2 more that are profitable
I plan to start full time trading at the beginning of 2013. With the same strategy, I will increase the capital to double it which means double the profits from evening trading. If the day trading can add 70% more profits, then I will generate 3.4 times profits. Suppose I make $2100 per month on average now (last 5 months), it would be about $7200 per months next year. The extra $5100 would be higher than my work salary now.

Full time trading will enable me to combine medium term trading and short term trading well. My strategy also works for stock indices. Only need tune entry point, the stop loss and stop profit. Any effective and active market will do. I do have a trend following strategy but as it is not 100% win, I don't like to apply it too often.

BTW: my July profit so far is USD$1941. Sorry I can't share my strategy because it may fail to work if it becomes open secret and before I use the strategy, I have paid over 2-3 thousand dollars plus 9 months precious time.
  • #56
  • Jul 23, 2012 9:53pm Jul 23, 2012 9:53pm
I'm really sorry to hear this; it is plain dumb to go full time with your current level of understanding of the markets.

Quoting yunben
I plan to start full time trading at the beginning of 2013. With the same strategy, I will increase the capital to double it which means double the profits from evening trading. If the day trading can add 70% more profits, then I will generate 3.4 times profits. Suppose I make $2100 per month on average now (last 5 months), it would be about $7200 per months next year. The extra $5100 would be higher than my work salary now.

Full time trading will enable me to combine medium term trading and short term trading well. My strategy also works for...
  • #57
  • Jul 23, 2012 10:14pm Jul 23, 2012 10:14pm
Quoting Dreamliner
I'm really sorry to hear this; it is plain dumb to go full time with your current level of understanding of the markets.

With your words, I recall the Fox and Grapes. If you can show me 15 months consistent profiting record, I will quit Forex trading.

Yes. I said and have achieved, my strategy is 100%-win with the condition of good money/risk management.
  • #58
  • Jul 23, 2012 10:20pm Jul 23, 2012 10:20pm
I believe you are trolling...possibly the mods should flag this thread so that newbies are not sucked into your deception. Many of us have been around trading long enough to know that you are trolling.

Quoting yunben
With your words, I recall the Fox and Grapes. If you can show me 15 months consistent profiting record, I will quit Forex trading.

Yes. I said and have achieved, my strategy is 100%-win with the condition of good money/risk management.
  • #59
  • Jul 23, 2012 10:48pm Jul 23, 2012 10:48pm
Quoting Dreamliner
I believe you are trolling...possibly the mods should flag this thread so that newbies are not sucked into your deception. Many of us have been around trading long enough to know that you are trolling.
I guess you are a trading veteran but not make profit. But you didn't succeed doesn't mean others may not either. Do you wanna a bet with me. Can you guess what the probability it is whether I am cheating?

My average monthly profit is only 4.5%, do you think I am exaggerating?
  • #60
  • Jul 24, 2012 1:58am Jul 24, 2012 1:58am
Quoting Dreamliner
I believe you are trolling...possibly the mods should flag this thread so that newbies are not sucked into your deception. Many of us have been around trading long enough to know that you are trolling.
Why did he have to troll?
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