Full Time Trading

trigger · Apr 16, 2008

Hi everyone, maybe this is the wrong place to ask but ive been trading options a while now and doing ok, though i want and need to trade full time, how did you guys that do, make the transition to full time. As it is i work for myself so can 'pop in' from time to time to trade but as you can summise its hard to focus when you cant give the screen proper attention.... any ideas or experiences that can help?
thanks in advance

TheBramble · Apr 16, 2008

How exactly are you currently trading options and doing OK - buying or selling premium? Intraday or EOD? Do you currently work form home?

Rhody Trader · Apr 16, 2008

trigger said:
... i want and need to trade full time...

Why do you "need" to trade full-time?

trigger · Apr 17, 2008

TheBramble said:
How exactly are you currently trading options and doing OK - buying or selling premium? Intraday or EOD? Do you currently work form home?

Hi Bramble
I trade ftse index options intraday, just basic buy and sell puts and calls, i work in property maintenance on my own so the phone is always ringing and i am out doing jobs, though my passion is for trading, 'doing ok' means i catch a few points here and there, but due to constantly having to leave the house i cant get the bigger moves and be out the market by the end of the day.... no overnight holds!! hope this clarifies it a bit.

trigger · Apr 17, 2008

Rhody Trader said:
Why do you "need" to trade full-time?

Hi Rhody

I feel i need to, to do it justice and for a change of career, also because i do not want overnight holds as i like to sleep at night! lol

Rhody Trader · Apr 17, 2008

trigger said:
I feel i need to, to do it justice and for a change of career, also because i do not want overnight holds as i like to sleep at night! lol

Be very aware of the fact that you may find yourself less effective as a full-time trader. How long have you been trading your strategy, and do you have any specific evidence to suggest that you would be better off trading full-time?

trigger · Apr 17, 2008

Rhody Trader said:
Be very aware of the fact that you may find yourself less effective as a full-time trader. How long have you been trading your strategy, and do you have any specific evidence to suggest that you would be better off trading full-time?

Hi, thanks for the response, i have been trading for a few years by telephone broker and found that for intraday moves the comms were killing chances of profit, so i am now using direct access which has transformed everything. Comms are acceptable and fills very quick, problem is, because im very busy in my job i rarely get more than half an hour at a time online so i seem to miss alot of moves i would normally take had i been there watching.

steve

rathcoole_exile · Apr 17, 2008

trigger said:
Hi, thanks for the response, i have been trading for a few years by telephone broker and found that for intraday moves the comms were killing chances of profit, so i am now using direct access which has transformed everything. Comms are acceptable and fills very quick, problem is, because im very busy in my job i rarely get more than half an hour at a time online so i seem to miss alot of moves i would normally take had i been there watching.

steve

personally I'd suggest binning your concerns about holding positions overnight, keep the day job and switch to weekly/daily charts and longer term trades. just a thought ....

trigger · Apr 17, 2008

rathcoole_exile said:
personally I'd suggest binning your concerns about holding positions overnight, keep the day job and switch to weekly/daily charts and longer term trades. just a thought ....

Hi thanks for that,
I will give the longer timeframes more thought, and options are ideal for that, so your suggestions will go into the cooking pot while i decide which timeframe i feel most comfortable with, though i do lean towards daytrading as i have done a year or so of position and find i get slightly paranoid of where the market is at about every 30 mins while trying to get on with other work

thanks for your reply

steve

Full Time Trading

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