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 robster970 Are the full time traders advocating that the only way to get your head in this ...

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Old Dec 29, 2010, 2:45pm   #57
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Re: Full time trading versus part time...

Chartsy started this thread
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Originally Posted by robster970 View Post
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
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Old Dec 29, 2010, 2:47pm   #58
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Re: Full time trading versus part time...

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Originally Posted by Black Swan View Post
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
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Old Dec 29, 2010, 2:48pm   #59
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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.
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Old Dec 29, 2010, 2:49pm   #60
 
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Re: Full time trading versus part time...

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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.
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Old Dec 29, 2010, 2:55pm   #61
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Re: Full time trading versus part time...

Chartsy started this thread 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!
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Old Dec 29, 2010, 2:58pm   #62
 
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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.
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Old Dec 29, 2010, 3:00pm   #63
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Re: Full time trading versus part time...

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