Hi ttward,
well done you must being doing great to finish up your job and be a full time trader
how old are you? does your wife or girlfriend support you in doing this?
my parents and partner never supported me although I have never gone full time except once where I joined a banks trading division.
even now, I think back it was a good idea to keep my corporate job and trade on the side as I have multi sources of income to support myself if my trades went bad. having no other income (unless if your loaded) could place unnecessary pressure to make "income" which on days or weeks you may not make any at all.
if you can survive the ups and downs of the markets and months without a pay cheque but can soldier on throughout the year then your on the right track to do trading full time
if you drop your job to become a full time trader because you got lucky on a few stocks this year I would have plan b if markets turn against you. you need to know when to trade and when to NOT trade at all - which if your full time will be very difficult, requiring a lot of self-discipline
I gave up trading twice back in my early days (5 years ago) I had no family, or wife so it was easy for me to pick myself up and continue soldiering on. I remember saying to myself, why did I get into trading in the first place and got me into the position I got myself into? after that day, I didn't trade for about half a year (built up some capital) and continued like a gambler.
what really changed my trading life, was experience gained and knowledge about most of the small cap stocks on the ASX, knowing which companies to avoid and which to buy at the right time.
I now don't need to trade on these forums and can earn consistent profits (I don't count weekly profits, I work annually now). I keep a diary of how much money I make each month and think of it as a "Business".
I don't need to watch the stocks I buy, I buy them at the right time with basic F/A,T/A and considering other market factors and use stop losses on shares i'm not familiar with.
This post is nothing to teach you how to trade (as you are probably a more successful trader than I am) it just struck my interest as I have been there( full time trading) and done that and found it difficult without a secondary income.
All JIMO at the end of the day everyone trades differently.
TraderRRR
