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; Originally Posted by new_trader The debate is: Can a person studying and trading part-time become profitable enough to turn it ...

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Old Dec 29, 2010, 11:16am   #29
 
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Re: Full time trading versus part time...

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Originally Posted by new_trader View Post
The debate is: Can a person studying and trading part-time become profitable enough to turn it into a full-time profession.
I think the answer is: Only if you are a dentist.
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
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Old Dec 29, 2010, 11:16am   #30
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Re: Full time trading versus part time...

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Originally Posted by mb325 View Post
Does that stat imply that the 100% from which the 90% is drawn have left their job to trade full time? I would guess not. I'd be very interested to see what % of 'full-time, given up job' traders fail, and what % of 'part-time, scared to leave work' traders fail.

I reckon having the bottle to give up your day job would increase your chance of being successful. Maybe it says something for the level of risk appetite necessary to become successful.
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.
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Old Dec 29, 2010, 11:18am   #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, 11:20am   #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, 11:20am   #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, 11:22am   #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, 11:23am   #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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