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; be carerful if you pick your ass though...

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Old Dec 29, 2010, 3:17pm   #71
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Re: Full time trading versus part time...

be carerful if you pick your ass though
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Old Dec 29, 2010, 3:18pm   #72
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Re: Full time trading versus part time...

Chartsy started this thread might find a worm.
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Old Dec 29, 2010, 3:20pm   #73
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Re: Full time trading versus part time...

Chartsy started this thread anyone want me to explain how a hurricane happens. im revising geography now and i can kid myself into thinking posting over a forum=revision.
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Old Dec 29, 2010, 3:23pm   #74
 
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Re: Full time trading versus part time...

Coriolis effect.
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Old Dec 29, 2010, 3:27pm   #75
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Re: Full time trading versus part time...

Chartsy started this thread yes BUT the coriolis is only strong enough to cause rotation from 5-20 degrees N/S of equator.
ah hem.
there has to be a tropical depression/low pressure...low pressure means air's rising init. when it rises it cools and condensed and then latent heat happenz and it warms up more and rises more, and the warm air over the tropical ocean is all like, whatever, and fills the pressure gradient and causes the same thing to happen...so air just keeps getting all sucked in, and the coriolis causes it to curve
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Old Dec 29, 2010, 3:29pm   #76
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Re: Full time trading versus part time...

Quote:
Originally Posted by robster970 View Post
Develop skills on a part-time basis, get yourself well capitalised in the process and then go for it..
This is the myth that needs busting imo..
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Old Dec 29, 2010, 3:34pm   #77
 
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Re: Full time trading versus part time...

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Originally Posted by Black Swan View Post
This is the myth that needs busting imo..
Why BS - I'm genuinely curious why you believe this?
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Old Dec 29, 2010, 4:29pm   #78
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Re: Full time trading versus part time...

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Originally Posted by robster970 View Post
Why BS - I'm genuinely curious why you believe this?
The main issue with this thorny subject is that most take affront at the suggestion that, part time > telling boss where to stick it > full time, will never work as it flies in the face of the majority of ambitions and dreams on a forum like this...

Firstly, I reckon the mass of advertising and marketing during the boom years has led to a disconnect of sorts. That push encouraged folk to 'have a go' on a part time basis suggesting the job, in all its forms, was easy. You know if you visit most trading forums the majority of the active sticky eyes are always on methods/strats..euphemisms for shortcuts.

We can only use our personal experiences or those close to us (relatives or work colleagues) to frame an opinion as how best to tackle the going full time as a trader route/option. I'd suggest by far the best option to go full time self employed is to already have a track record;

Fed up with the daily commute, wanting a better quality of life and lifestyle Billy Bund hands in notice in Jan. after getting bonus and trades part of his 500K savings he's accumulated from the industry over the past ten years or more knowing he's gonna be fine... He'll moan like fook at BT for the slow broadband, pi55 himself laughing at how silly most of *us* are, keep his head down, take ten-twenty grand out of the market each month and wonder why he didn't sack off everything a bit earlier..

But that's not how most arrive in this retail world of potential pain. Most are looking for the Net Trap plug and play morning breakout solution, could be a bit of fun, might make a few quid, happy days! and that's how they'll stay. I'm deep into my third year full time, took me a year to become profitable, by year two (end) had above average wage and my intellectual curiosity were trading knowledge is concerned has been insatiable.

Now I can be a touch slow on the uptake at times, but I cannot begin to add up the screen time/forums time and absorbtion this new found profession has cost. I can't possibly imagine a scenario (en masse) were folk can avoid the thousands of hours of *work* to arrive at where I am if they fly solo and learn the job from scratch..And that arriving is not (as we both know) discovering/buying a grail. The mindset required, encompassing single minded dedication and balanced determination, is impossible to replicate from one person to another and imho an incredibly difficult set of characteristics to develop.

I'll repeat what I stated up thread; if you are a successful part time trader, having pulled ten grand out of (for example) FX this year, then keep your head down, do right by your boss (and your job) and keep the part time FX trading job. You'd have needed £200K+ to have earned better than that in interest on Sterling from the high street.
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Thanks! The following members like this post: robster970
Old Dec 29, 2010, 4:48pm   #79
 
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Re: Full time trading versus part time...

"allegedly" new_trader, "allegedly"

Focus & full attention are necessary to achieve greatness in any pursuit

Incidentally, my uncle is a dentist (& a very good one at that based on his Sydney mansion)
I doubt he would pack in his job after several "alleged" successful evenings trading the stocks.

Just wondering if the dentist you speak of was indeed a dentist

I suspect he may have actually worked as a dental nurse before entering the lucrative field of Systems sales

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So I keep reading, yet one of the most respected members of this forum, who is now a full time trader and a coach/trainer was a full time dentist! Go figure...
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Old Dec 29, 2010, 4:54pm   #80
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Re: Full time trading versus part time...

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Originally Posted by Scalper_max View Post
From what I heard and read swing traders make more money than day traders. Buy low sell high. Say you were to get in long on the USD/CHF, or the USD/JPY sometime soon you could just leave that trade on and check it once a day for 1 or 2 months and potentially make some nice profit of a few hundred pips or even more.

Of course that is no fun but the reality is if you look for good entry points you do not to day trade and you can still keep your job. Statistically you are less likely to blow your account too.
From what i've experienced so far I concur with this, although I play Stocks.
Although I would disagree with it not being "fun", I like seeing my profits grow without too much trading...!
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