Full time trading versus part time...

This is a discussion on Full time trading versus part time... within the General Trading Chat forums, part of the Reception category; Those stats of 90% of traders fail are imaterial surely? Does it matter what that figure is and does that ...

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Old Dec 29, 2010, 12:18pm   #31
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Re: Full time trading versus part time...

Those stats of 90% of traders fail are imaterial surely? Does it matter what that figure is and does that matter to you as an individual? Each person needs to be intelligent enough to be able to look at their trading and if they can indeed be profitable to do it full time, if the success rate is 1%, 5%, 10% or 50% does it matter, it only matters that you can work out if you can be successful or not?
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Old Dec 29, 2010, 12:20pm   #32
 
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Re: Full time trading versus part time...

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Originally Posted by LiamH View Post
I would suspect that 99% of people stupid enough to give up their job to trade without first proving they're profitable fail. This is silly - Why would you leave the security of a job to trade when you don't even know if you can do it?

As Kwickwool said above, practically everyone must start part time to some extent.
I didn't say they gave up their job without knowing anything about trading did I??
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Old Dec 29, 2010, 12:20pm   #33
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Re: Full time trading versus part time...

Chartsy started this thread people are saying that those who can't go full time in the first place don't have the right risk appetite. well that's what i mean, if you can't hack the sick-to-the-stomach feeling of having a drawdown , why bother. if you are swingin' and you work around markets (as i want to , maybe as a broker/dealer) then it's not going to be hard to check your trades. it would then be a serious edge to for those with less risk appetite to get a job- they are less emotionally involved, now come on, isn't that an advantage somewhat, you can still trade unaggressively into fortunes..
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Old Dec 29, 2010, 12:22pm   #34
 
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Re: Full time trading versus part time...

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Originally Posted by barjon View Post
I think that's rather an unnecessary slap, nt, but it does raise the question about part-time, full-time.

Does full-time mean "only source of income" or "every waking hour"? There are plenty of traders who claim to only trade for a few hours each day, then go off to do other things. Isn't that part-time? So, if you're UK based with a day job after which you trade the US market 'til it closes how is that different from a "full time trader" whose preferred time slot is the afternoon US market?

Much more crucial than the time people spend on it or when is whether the result of their trading gives a regular and sustainable income sufficient to meet their needs. Only then can they think about full-time in the "only source of income" sense.

jon
jon, I wrote that with toungue-in-cheek I agree with everything you have written here.
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Old Dec 29, 2010, 12:23pm   #35
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Re: Full time trading versus part time...

Chartsy started this thread barjon, i'm talking part time trading as in, alongside a job with a wage.
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Old Dec 29, 2010, 12:26pm   #36
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Re: Full time trading versus part time...

Chartsy started this thread
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Originally Posted by scose-no-doubt View Post
Yes if you want to succeed at trading you must quit work/school immediately - they are irrelevant anyway - and sit in front of a screen all day everyday until charts scream KISS at you. This is the only way anyone can ever become a profitable trader. Anyone who disagrees with this fact is just a sore loser and should give up anyway.
tell us then, you're an accountant aren't you? i recall you being called a really crap trader. if you hadn't had the income of an accountant you'd be in a right mess eh?
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Old Dec 29, 2010, 12:27pm   #37
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Re: Full time trading versus part time...

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Originally Posted by mb325 View Post
I didn't say they gave up their job without knowing anything about trading did I??
Well, in that case, of course those who leave work to trade will be more likely to be profitable - They will more than likely have been profitable part time first..

The % of part timers who fail in this case will of course be higher because that would include all of those who have had a go and failed..
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Old Dec 29, 2010, 12:28pm   #38
 
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Re: Full time trading versus part time...

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Originally Posted by Chartsy View Post
barjon, i'm talking part time trading as in, alongside a job with a wage.
I think jon is right. The distinction should not be 'part-time' or 'full-time', it should really be how/where do you derive the majority of your income. And, if as I suspect, people invest money in stocks, shares, bonds, commodities and property as a means of preserving and diversifying wealth, then the 'where' may become a bit hazy.
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Old Dec 29, 2010, 12:29pm   #39
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Re: Full time trading versus part time...

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There are plenty of traders who claim to only trade for a few hours each day, then go off to do other things. Isn't that part-time?
and the amount of time and effort they've had to dedicate to trading, in order to finally reach that heady state of ability, success and as a bi-product 'trading enlightenment', shouldn't be underestimated..
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Old Dec 29, 2010, 12:29pm   #40
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Re: Full time trading versus part time...

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Originally Posted by Chartsy View Post
tell us then, you're an accountant aren't you? i recall you being called a really crap trader. if you hadn't had the income of an accountant you'd be in a right mess eh?
Pretty sure he was being sarcastic lol
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