Full time trading versus part time...

Chartsy · Dec 29, 2010, 8:45am

Quote:

Originally Posted by robster970

Are the full time traders advocating that the only way to get your head in this game is to pack in your current job and go balls out in your 'new profession'?

Or is it prudent to develop skills on a part-time basis, get yourself well capitalised in the process and then go for it?

yeh i forgot to say, learn part time THEN go full time

Chartsy · Dec 29, 2010, 8:47am

Quote:

Originally Posted by Black Swan

Broad brush stroke sweeping generalisation alert...You part timers should not be trading, you should be investing. Whether that be TA, FA or a combo you should be position trading and nothing else imo and it's as easy to do with fx as any other security.

OK, so to start off simply position trade 2 currencies, simply take (as a first step) a proportion of your 5hitty sterling savings and *convert* them to a basket of other currencies. Now here's the rub, if you havn't got: the wit, the balls, the time and or the technique to do that then give up the game now, it isn't for you.

Jus be patient with (for example) cable and the Euro, wait for the next position trade swing 'off the dailies' and off you go..

i swing off the h4/dailies with perhaps 1 trade a week

Scalper_max · Dec 29, 2010, 8:48am

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.

robster970 · Dec 29, 2010, 8:49am

Quote:

yeh i forgot to say, learn part time THEN go full time

Sounds sensible. I can see that remaining part-time when profitable is crazy.

Chartsy · Dec 29, 2010, 8:55am

but having a backup as a job i really like....i said broker/dealer but i don't want to be stuck in markets all day every day if i fail at trading. not sure really.

i'm smart and i can pretty much get straight As , i don't know what the most fun/happy job would be!

robster970 · Dec 29, 2010, 8:58am

Do you mean a profession other than trading that you can walk in and out of as you choose?

Pick a degree you like the sound of and will likely have legs (not media studies, etc), get yourself into a Russell Group University, have a laugh for 3 years, get a job you like the sound of do it for a few years, carry on trading in the background or do it as your main job.

Chartsy · Dec 29, 2010, 9:00am

no , i mean a really fun job to have a career in, obviously trading is different as your hours are your choice

Chartsy · Dec 29, 2010, 9:06am

i'll have to see where i am at 18, i would be thinking differently if i was consistent. lol i'll leave it to then. a degree in something, im not sure if you can get a job stormchasing? if that could somehow be part of a job within geography/geology then it'd be fun as hell, my my i am naive

Dec 29, 2010, 8:48am	#59
Scalper_max Rookie Member Since Mar 2009 15 Posts	Re: Full time trading versus part time... 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.

Dec 29, 2010, 8:55am	#61
Chartsy Veteran Member Member Since May 2010 948 Posts	Re: Full time trading versus part time... but having a backup as a job i really like....i said broker/dealer but i don't want to be stuck in markets all day every day if i fail at trading. not sure really. i'm smart and i can pretty much get straight As , i don't know what the most fun/happy job would be!

Dec 29, 2010, 8:58am	#62
robster970 Legendary Member Member Since Dec 2008 4,201 Posts	Re: Full time trading versus part time... Do you mean a profession other than trading that you can walk in and out of as you choose? Pick a degree you like the sound of and will likely have legs (not media studies, etc), get yourself into a Russell Group University, have a laugh for 3 years, get a job you like the sound of do it for a few years, carry on trading in the background or do it as your main job. __________________ Confident about your performance? Perhaps you should consider the Dunning-Kruger effect

Dec 29, 2010, 9:00am	#63
Chartsy Veteran Member Member Since May 2010 948 Posts	Re: Full time trading versus part time... no , i mean a really fun job to have a career in, obviously trading is different as your hours are your choice

Dec 29, 2010, 9:06am	#64
Chartsy Veteran Member Member Since May 2010 948 Posts	Re: Full time trading versus part time... i'll have to see where i am at 18, i would be thinking differently if i was consistent. lol i'll leave it to then. a degree in something, im not sure if you can get a job stormchasing? if that could somehow be part of a job within geography/geology then it'd be fun as hell, my my i am naive

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