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I finally quit my day job!

  • #161
  • Nov 2, 2012 10:06am Nov 2, 2012 10:06am
That’s it for me. Enjoy your weekend everybody. It’s Miller time!
Enjoy!

http://www.youtube.com/watch?v=7E82ozXyNjk&feature=fvwrel
Fuck Forex Factory.Wake up people.
  • #162
  • Nov 4, 2012 3:07pm Nov 4, 2012 3:07pm
Quoting Slim Buffett
And one more thought to keep in mind; "most people's fear of losing money is greater than their desire to make money."
What sets you apart?
Now that's so true
  • #163
  • Nov 4, 2012 3:37pm Nov 4, 2012 3:37pm
Quoting 4X4EVER
I have come to the conclusion, it's nearly, not absolutely, but nearly impossible for someone to be a day trader and earn a nice living without being properly capitalized. We would probably have a debate on how much that amount is
So, what do you guys think is the right amount for the initial account?

I assume it also depends where do you live (like Thailand is cheaper than the US).

It's interesting to know what other traders think about it.
  • #164
  • Nov 5, 2012 10:03pm Nov 5, 2012 10:03pm
Quoting ramy3
What does your freelancing example have to do with what i said or trading. I traded 3 hours, pretty much had the whole day to myself. Could have done anything else i wanted... But "i preferred" to keep on trading a bit.

Yesterday, traded for 5 hours, While attending to other stuff that needed to be done. Went out for lunch with friends and came back to do whatever I wanted to do…

Pretty much thinking of heading down to Florida for the winter too. Still have not made up my mind about it.

So, yeah...?

But thank you for the good wishes....
Yeah, so may be I will change my mind after your experience) That will be really interesting to read about your work schedule after some time (like after half a year). Don't you wanna have a blog or will you post here?
  • #165
  • Nov 5, 2012 10:56pm Nov 5, 2012 10:56pm
I am a Pakistani Trader, I would prefer to not leave your FT job, I'm doing trading along with my FT job. It is not that hard to manage
  • #166
  • Edited Nov 7, 2012 7:46am Nov 6, 2012 5:19pm | Edited Nov 7, 2012 7:46am
Quoting meng88
Yeah, so may be I will change my mind after your experience) That will be really interesting to read about your work schedule after some time (like after half a year). Don't you wanna have a blog or will you post here?
Not much to say actually. Besides all this new free time. I am realizing that work filled some sorta void in my life (which I guess I was in denial about). It is starting to make me reevaluate my life a bit. I have been a bit busy with playing catch up with old friends. Yeah, it has only been about a week, but, hmmm…

Need a new life plan, I guess… Sorta confused a bit for now…

First few weeks are always an adaptation period in any new venture someone takes. So, will see what I come up with in the next few ones.

Think this was one of the best decision I took in my life. As it is starting to make me realize quite a bit of “stuff”… Which to me seemed trivial before, but now are starting to seem more important for some reason...

So, i guess i will keep posting here.

Whish all you guys luck.

Happy trading!
Fuck Forex Factory.Wake up people.
  • #167
  • Nov 7, 2012 10:29pm Nov 7, 2012 10:29pm
Quoting Talha Khan
I am a Pakistani Trader, I would prefer to not leave your FT job, I'm doing trading along with my FT job. It is not that hard to manage
That all depends of you trading strategy and your style)) The more you trade, the more you wanna do it all the time)
  • #168
  • Nov 26, 2012 7:13am Nov 26, 2012 7:13am
Quoting ramy3
Not much to say actually. Besides all this new free time. I am realizing that work filled some sorta void in my life (which I guess I was in denial about). It is starting to make me reevaluate my life a bit. I have been a bit busy with playing catch up with old friends. Yeah, it has only been about a week, but, hmmm…

Need a new life plan, I guess… Sorta confused a bit for now…

First few weeks are always an adaptation period in any new venture someone takes. So, will see what I come up with in the next few ones.

Think this was one of the...
I envy you....I don't know how many years it will take for me to be courageous enough to quit my job.
wo-yoy! wo-yoy! wo-yoy! wo-yoi! wo-yoy-yoy-yoy!
  • #169
  • Nov 26, 2012 8:26am Nov 26, 2012 8:26am
Hi i would like to share my view with you.I quit my job for trading.But not in the begining as it happens with all the trades i was not sucessful in the start.For me it took me One and half years to get in the profit.When i mean profit i mean on daily basis. For that i have made my rules which i follow strickly.For example what is the daily amount of profit i want to earn ones that is achived i switch my system off and go.For me its every day new day new trades i belive in day profit that means your week is in profit and when week is in profit your month is in profit.In this you are your own boss.The best tip is that control your greed you will be sucessful trader.Do not over trade.
  • #170
  • Nov 26, 2012 8:30am Nov 26, 2012 8:30am
Quoting Ishaque Shah
[font=Arial]Hi i would like to share my view with you.I quit my job for trading.But not in the begining as it happens with all the trades i was not sucessful in the start.For me it took me One and half years to get in the profit.When i mean profit i mean on daily basis. For that i have made my rules which i follow strickly.For example what is the daily amount of profit i want to earn ones that is achived i switch my system off and go.For me its every day new day new trades i belive in day profit that means your week is in profit and when week is...
Thanks for sharing. How can you meet your daily target on a sideway day?
  • #171
  • Nov 26, 2012 9:38am Nov 26, 2012 9:38am
Hi Friend. Glad to know you got the balls to quit in the first place. I did too but for a different reason. I went back to school on scholarship. I am equally trading for partial income. I have refined my trading skills before i quit though and i am doing very fine now. I will share with you my approach.

I signed up to zulutrade for autosignals. I know many of the providers there are crazy but found some who were sane with trades. I have been fairly successfull with over 80% success rate. I use microlots with good mm to absorb their occassional extreme dd.

I also trade personally off H1. I do swing trading and few trades. I dedicate more time to reading, essays and practicals. I use the basket trading approach on H1 and use an ea to monitor my trades. You can check this forum "still basketing" by Kosomolate.

I wish you all the best in your trading but get a part-time job while you perfect your strategy. If you have a good and reliable strategy, be sure you have the emotions to handle off-days and low return periods.
Cheers.
  • #172
  • Nov 26, 2012 9:54am Nov 26, 2012 9:54am
Thinking about quitting my day job in the next month or so...what do you recommend I have in place before I do so?

David
Good luck and may the odds be ever in your favor!
  • #173
  • Nov 26, 2012 10:19am Nov 26, 2012 10:19am
I am already quite my job, but it's too hard for me to get profit from market. now I have passive income from my franchise store. may be if I dont have passive income, I will homeless cause this forex market. what I know it's too dificult to be A winer in this market.
  • #174
  • Nov 26, 2012 1:30pm Nov 26, 2012 1:30pm
Quoting sabar
I am already quite my job, but it's too hard for me to get profit from market. now I have passive income from my franchise store. may be if I dont have passive income, I will homeless cause this forex market. what I know it's too dificult to be A winer in this market.
Sounds to me like you need a more consistant system. What is your main trading method if you don't mind me asking?
Good luck and may the odds be ever in your favor!
  • #175
  • Nov 26, 2012 2:03pm Nov 26, 2012 2:03pm
i tried couple of times to trade full time and here are my experiences:

1. full time job is easier. After 6 mths I was glad to be back working although i made money. nothing beats security of paycheck
2. it impacted my health and I have decided this is not for me.
3. Time - lots of time gone and distribution of winners makes sure that you waste many hours and at the end lose often which does not feel good.
4. low on cash, not enough to pay for activities
5. i like high% winners which technical only trading can't provide

So I have new plan which:

1. will not waste time as i will only be swing trading and can do it when working if desired
2. Have enough cash to pay for activities
3. Work from anywhere

For this, one needs enough cash balance to overcome lean year, and good swing trading method that does not require much time. So, 1 decent trade a year will have to provide enough pl to live. Rest will be b/e or so. I don't lose much except in scenario like EURCHF so large down year is very unlikely.
  • #176
  • Nov 26, 2012 3:34pm Nov 26, 2012 3:34pm
Quoting macroman
i tried couple of times to trade full time and here are my experiences:

1. full time job is easier. After 6 mths I was glad to be back working although i made money. nothing beats security of paycheck
2. it impacted my health and I have decided this is not for me.
3. Time - lots of time gone and distribution of winners makes sure that you waste many hours and at the end lose often which does not feel good.
4. low on cash, not enough to pay for activities
5. i like high% winners which technical only trading can't provide

So I have new...
I have taken up swing trading and I can tell you it is very rewarding. Your in your trades for a long time, but they take profit and then your good to go!
Good luck and may the odds be ever in your favor!
  • #177
  • Nov 28, 2012 3:27pm Nov 28, 2012 3:27pm
Enjoy!
http://www.youtube.com/watch?feature=player_embedded&v=xzQvGz6_fvA
Fuck Forex Factory.Wake up people.
  • #178
  • Edited 3:46pm Nov 28, 2012 3:33pm | Edited 3:46pm
Not much to say guys. Things still going good. That security feeling is still there… Forget about my knitting plans, picked up coding again instead, lol. Pretty sure i am not going back to my job... Will see when the final moment arrives...

Wishing you guys success in whatever you engage in! It “sorta “ feels good…

Started snowing here a bit, Florida looking better and better…
Fuck Forex Factory.Wake up people.
  • #179
  • Nov 28, 2012 3:57pm Nov 28, 2012 3:57pm
Quoting ramy3
Not much to say guys. Things still going good. That security feeling is still there… Forget about my knitting plans, picked up coding again instead, lol. Pretty sure i am not going back to my job... Will see when the final moment arrives...

Wishing you guys success in whatever you engage in! It “sorta “ feels good…

Started snowing here a bit, Florida looking better and better…
i definitely could quit my job back in the day when i used to live in a studio in chicago-and having to take public transportation everywhere.

but now i have a wife and kid and condo..more expenses. But gotta keep the dream alive :-P
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  • #180
  • Edited 1:35am Nov 29, 2012 1:00am | Edited 1:35am
Quoting dbutton1990
I have taken up swing trading and I can tell you it is very rewarding. Your in your trades for a long time, but they take profit and then your good to go!
yup, that is the idea. so you can finance one of these - edit:trips i mean
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