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Can I quit my job and be a full time trader?

Chemmie78

By Chemmie78,
in Lite & EZ

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Chemmie78

Chemmie78

Clutched

You guys think this is possible to quit my job and be a full time trader?

 

I ever known this philips trader who i see his income statement is about 6 to 8k a month....but i think he made big losses and sold off his condo....but before that to consistently make 6 to 8k a month i think not bad leow....can almost match my pay leow....

 

Also some forex traders claims to make consistently 10 to 20k a month....this should be enough for me

 

You think i can make it???

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Throttle2

Throttle2

Supersonic

You guys think this is possible to quit my job and be a full time trader?

 

I ever known this philips trader who i see his income statement is about 6 to 8k a month....but i think he made big losses and sold off his condo....but before that to consistently make 6 to 8k a month i think not bad leow....can almost match my pay leow....

 

Also some forex traders claims to make consistently 10 to 20k a month....this should be enough for me

 

You think i can make it???

 

NO i dont think so

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MTRAC

MTRAC

Neutral Newbie

Agree with Bro Vid.

 

Start off part-time. Take a step at a time. Set aside some spare cash i.e. those that you are prepared to loose without affecting yourself and your family. Monitor it for 6 mths to 1 yr, if you can really make it, then maybe you can think of going fulltime.

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Chemmie78

Chemmie78

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Agree with Bro Vid.

 

Start off part-time. Take a step at a time. Set aside some spare cash i.e. those that you are prepared to loose without affecting yourself and your family. Monitor it for 6 mths to 1 yr, if you can really make it, then maybe you can think of going fulltime.

 

Good advice....I did it on a part time basis before but inconsistent although thanks to one counter i made money...i think if i do it on a part time basis....i will not be serious about it...and my equity will always go back to square one as the past few years....

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Park88

Park88

1st Gear

the one or two that made it as traders

10 or 100 died

 

the grass is greener the other side

 

never use other than your spare cash to trade

trust me

 

 

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Longg8

Longg8

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(edited)

Do it on a part time basis. No need to quit your job.

 

that's an extremely bad advise.

 

if bank traders (full time basis) can suffer big losses...what makes u think that you can make money by doing part time? if u r that good, u dont have to do it part time, do it full time! haha...

 

u r talking about FX...a leveraged product....

 

go read more before u give such comments...

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Poper

Poper

2nd Gear

Good advice....I did it on a part time basis before but inconsistent although thanks to one counter i made money...i think if i do it on a part time basis....i will not be serious about it...and my equity will always go back to square one as the past few years....

 

Full-time trading is not for everyone... Cut losses is always easy talk than do; same for setting profit target and sell when it hit. You must have the personality and emotional strength for that.

 

I've got a colleague making $10K odd per month, quit his job to trade full time; cannot take the stress and the unpredictability of income, he decided to return to corporate work.

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Curahee

Curahee

1st Gear

How consistent is ur trading performance? Give urself a few yrs den see how it goes. Coz if ur performance r those see saw kind, better dun quit ur job coz very risky.

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Chemmie78

Chemmie78

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Full-time trading is not for everyone... Cut losses is always easy talk than do; same for setting profit target and sell when it hit. You must have the personality and emotional strength for that.

 

I've got a colleague making $10K odd per month, quit his job to trade full time; cannot take the stress and the unpredictability of income, he decided to return to corporate work.

 

Guess I am stuck in my job then? forever in the rat race?

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The_Bear

The_Bear

Turbocharged

Guess I am stuck in my job then? forever in the rat race?

 

Jesus, you are even bad at lying. At least have some consistency. [laugh]

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Vid

Vid

Hypersonic

that's an extremely bad advise.

 

if bank traders (full time basis) can suffer big losses...what makes u think that you can make money by doing part time? if u r that good, u dont have to do it part time, do it full time! haha...

 

u r talking about FX...a leveraged product....

 

go read more before u give such comments...

 

I am a part-time trader myself. I've read more books on trading than I ever did for my uni. Attended more seminars than lectures. I make more than losses so I don't think it is such a difficult task. Whether FT or PT, the main objective is to monitor the market. You can be sitting 24 hrs in front of the computer but if you are not analyzing, then it defeats the purpose.

 

Know your limits. Set an achievable target.

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Freestylers09

Freestylers09

5th Gear

be it books or TA etc

 

monitoring in trading time is v important....

 

take a look at today some counters...alot tio cornered until no way run...reason?who knows [laugh] ,no way to explain but other than TA,FA etc,there's some intrday factors even to look into it...si bei chim.. [dizzy]

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Chemmie78

Chemmie78

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I am a part-time trader myself. I've read more books on trading than I ever did for my uni. Attended more seminars than lectures. I make more than losses so I don't think it is such a difficult task. Whether FT or PT, the main objective is to monitor the market. You can be sitting 24 hrs in front of the computer but if you are not analyzing, then it defeats the purpose.

 

Know your limits. Set an achievable target.

 

Thanks I was trading part time but quit due to overtly stress at work...dun think i can make rational decisions when i am stressed out....so better not to trade...and i dun think for someone employed he is about to sit in front of the computer and monitor the market...so it has to be more passive

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Vid

Vid

Hypersonic

Thanks I was trading part time but quit due to overtly stress at work...dun think i can make rational decisions when i am stressed out....so better not to trade...and i dun think for someone employed he is about to sit in front of the computer and monitor the market...so it has to be more passive

 

Then you should not be looking at trading but should focus on long term investments. If your day job is draining away all your energy, it is either change another job or rest your mind after work.

 

Sometimes it is better to be happy with what we already.

 

Gd luck bro!

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