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; Interesting that there is confuscation between full-time trading - meaning working on trading full-time - and gaining an income equivalent ...

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Old Dec 30, 2010, 2:20pm   #106
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Re: Full time trading versus part time...

Interesting that there is confuscation between full-time trading - meaning working on trading full-time - and gaining an income equivalent to full time employment.

One suggests hard work, bringing a deserved reward, which no doubt ought to increase with the effort or time expended. The other stresses the reward, without reference to any particular level of effort at all.

I would love to hear Mark Douglas on this thread.
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Old Dec 30, 2010, 2:21pm   #107
 
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Re: Full time trading versus part time...

In terms of exposure to the real world....

Life tends to throw you a few reality slaps when you are no longer leeching off your parents.

Of course, anyone living with their parents doesn't think they are leeching off them but they are and the parents don't really mind. Still - after the kids leave and IF the kids actually then start helping the parents financially, especially when they are living off their pensions, they now have more disposable income, better holidays, more freedom. It's probably only when you have kids that you realise how much work they put into you.

For anyone here that is still living with their parents, not really paying their share of the bills & food, I would say that you are still sheltered. We all did it - but living under an umbrella of care sure don't prepare you for what the markets will throw at you.
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Old Dec 30, 2010, 2:22pm   #108
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Re: Full time trading versus part time...

Psychology again.

If you're living under the roof of your parents you have much less pressure to perform as you're not worrying about bills or rent.

Doesn't make it impossible, but then you just have to work much harder at coming up with the necessary discpline and at taking your venture seriously enough to make it succeed than those out in the cold all alone who have learned how to make ends meet by themselves, how to set objectives and not be able to afford to not achieve them.
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Old Dec 30, 2010, 2:25pm   #109
 
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Re: Full time trading versus part time...

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Psychology again.

If you're living under the roof of your parents you have much less pressure to perform as you're not worrying about bills or rent.
Doesn't make it impossible, but...
that's an advantage, isn't it?
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Old Dec 30, 2010, 2:29pm   #110
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Re: Full time trading versus part time...

Depends on the person I'd say and on how disciplined they are.

Richard Dennis started out living at home, but he is such an extraordinary person in every regard that it's hard to compare him with your usual punter at home.

Will your normal kid still living at home really do what needs to be done, or go off in a huff after a losing streak, wreaking havoc with their accounts because they're taking losses personally, start revenge trading, doubling up, averaging losers, etc etc ?

Kids still living at home can afford that because they won't end up homeless if they go against their rules.

Of course that's no guarantee that those having to make ends meet themselves won't also go breaking rules tho obviously.
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Old Dec 30, 2010, 3:32pm   #111
 
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Re: Full time trading versus part time...

It's easier, in my opinion, for a new trader to make a living trading part time than it is to do it full time.

You just have to use your time constructively.

I appreciate that most people won't agree with this but it is based on experience.
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Old Dec 30, 2010, 4:05pm   #112
 
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Re: Full time trading versus part time...

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I think what Swan mainly means isn't necessarily part time or not...

but complete and total commitment to getting it to work. Am I getting that right BS ?

If you have a good salary etc will you really be disciplined enough to always do what needs to be done, or will you get negligent because you don't really need the money.

It's like someone who inherits money, for them it's all a game until the money runs out right.

I wouldn't say it's impossible, but you definitely need total commitment and discipline.

In a way trading with a safety belt (salary, inheritance etc) is a bit like the difference between paper trading or going live, the psychological pressure is different, and psychology is imo 90% of trading success.
I wouldn't say starting out part time is impossible, but it can definitely only work if you take it just as seriously as if you were trading for a living, and most won't be able to generate that discipline without outside pressure like a boss telling them what to do or inside pressure like having to pay bills from your trading.

After all most don't have the discpline either to keep their weight down as long as there's no pressing problems cropping up like diabetes etc.

Even then most won't develop the needed discipline to do what needs to be done but keep eating sugar etc, and similarly that's why imo it's hard to take trading seriously as long as you're comfortable financially independent of trading.

Not impossible, but impossible without taking it 100% as seriously as if your bills had to be payed out of your trading account even if you still have a job etc, I think that's what it's all about.
I agree with this 100%.

I would also say that for some strange reason most people associate a ‘job’ with doing something ‘dirty’ or ‘degrading’ and working under a tyrannical boss etc. My ‘job’ isn’t like that at all. I work in a well paid profession, I have a great boss and my colleagues are also my friends and that is what makes it harder to give up. If you are doing dirty work for minimum wage and you hate everything about it then you haven’t got much to looose ( are there 3 O’s or 5?).

I never trade from work so I can’t be accused of abusing my employer and the hours I work means I get a lot of market hours screen time at home, so much time that it makes no difference to say that I am a full-time trader with a part time job or vice versa.
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Old Dec 30, 2010, 4:40pm   #113
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Re: Full time trading versus part time...

Here's something to keep in mind, for all you dreamers out there !

http://www.motivation-for-dreamers.c...r-bridges.html
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Old Dec 30, 2010, 4:49pm   #114
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Re: Full time trading versus part time...

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It's probably only when you have kids that you realise how much work they put into you.
I think this is why they invented manners. My 2yr old and 3yr old are continually ordering things from me, be it water, or chocolate or tissues. It's only by forcing them to say please and thank you which stops you from going completely round the twist, otherwise you feel like you're paying for the privilege to be a slave.
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Old Dec 30, 2010, 6:14pm   #115
 
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Re: Full time trading versus part time...

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I think this is why they invented manners. My 2yr old and 3yr old are continually ordering things from me, be it water, or chocolate or tissues. It's only by forcing them to say please and thank you which stops you from going completely round the twist, otherwise you feel like you're paying for the privilege to be a slave.
Too right - I'm the same - my 8 year old still occasionally tells me instead of asks but in the main, he is very well mannered. When he puts a foot wrong in this respect, he is told and he will apologise.

I despair when I see spoilt, cheeky kids running around - especially the expat brats you get out here. Cheeky, rude little spoilt brats with zero manners. I hate to think what their kids will be like.

Mind you - could be worse - could be in the UK where you can't punish your own kids.
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Old Dec 30, 2010, 6:17pm   #116
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Re: Full time trading versus part time...

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I would also say that for some strange reason most people associate a ‘job’ with doing something ‘dirty’ or ‘degrading’ and working under a tyrannical boss etc. My ‘job’ isn’t like that at all. I work in a well paid profession, I have a great boss and my colleagues are also my friends and that is what makes it harder to give up. If you are doing dirty work for minimum wage and you hate everything about it then you haven’t got much to looose ( are there 3 O’s or 5?).

I never trade from work so I can’t be accused of abusing my employer and the hours I work means I get a lot of market hours screen time at home, so much time that it makes no difference to say that I am a full-time trader with a part time job or vice versa.
Yup makes sense if one is one of the lucky ones to have a job they enjoy, I mean they do exist after all ;-)

In a similar vein funnily enough quite a lot of people we know have one partner with a job bringing in a steady salary covering the basics, while the other one is the risk taker striking out as an entrepreneur and bringing in the extras.

So do it like that, or have a job you enjoy providing the security, while using trading as your vehicle for providing the potential for wealth, and if one takes ones trading 100% seriously, then sure, that ought to work too as long as the commitment and complete discipline are there.

Mr & Toast, kids wise we played it safe, we "only" have a cat.

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Old Dec 30, 2010, 6:32pm   #117
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Re: Full time trading versus part time...

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Mind you - could be worse - could be in the UK where you can't punish your own kids.
Eh? You want to punch women and hit kids...?
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Old Dec 30, 2010, 6:45pm   #118
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Re: Full time trading versus part time...

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Eh? You want to punch women and hit kids...?
The issue being .. ?
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Old Dec 30, 2010, 6:53pm   #119
 
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Re: Full time trading versus part time...

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Eh? You want to punch women and hit kids...?
Most people over 30 will remember getting a slap or two off their mom/dad when they got out of line as kids.

This has been going on for hundreds of generations with no ill effects, in the UK, this is now illegal...

What's the result of this? More polite, well behaved kids? Or ill mannered little turds running around knowing the worse they will get is a shouting at?

I got smacked plenty as a kid, most of my friends did. My dad got hit, his dad got hit and so on and so forth.

I gave my son a smacked ass on one occasion - after he walked off in the hustle & bustle of us checking into a hotel. He walked into the garden, to the cliff edge, down the cliff steps to the beach. That was 4 years ago. Now the mention of a smacked ass is enough to keep him in line.

Of course - any liberals reading this will be aghast. Then again, it's liberals that are ruining the UK, so I couldn't really care less.

As for hitting women. Most women like a good spanking when being taken from behind, who am I to not satisfy their needs?
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Old Dec 30, 2010, 6:57pm   #120
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Re: Full time trading versus part time...

Precisely. If you're doing a fat bird from behind, her stomach hangs down and suddenly she looks thinner.
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