I want to quit my job so I can stare at blinking numbers every day

do it!

or alternatively become a swingin' dick swing trader, end of day trades, which has made me a respectable 14% since december.

But the way you're going about day trading is IMO way better than what a lot of people try- day trading a 5 min cable chart with charts.
 
p.s. i knew someone who was 18, scalped ES 2 hours a day and was ****ing loaded a year later
 
Doomberg said:
I too would like to be a being a full time trader, but im not ready yet... so im going to keep working, probably around 1/2 days in my office with my day job as i gain more experience in the markets and see where i go from there... i am going give it my best shot, and to me that means i'll succeed.

Good luck with it mate if you believe you can do it, and you take the correct steps... you will.
Click to expand...

Just trade irish bank stocks. Apparently they go up and down 5-10%. buy low sell high. Can't lose.
 
I don't usually reply to threads like these but seeing as we're the same age and I actually gave up my (low-paid) graduate job to learn to day trade I figured I'd reply.

I find day trading even more anti-social than if had a job. Think about it, stuck at home looking at the computer screen for hours, not talking for hours on end. And it's not like you can spend the daytime going out with your friends in the afternoon because chances are they'll be at their workplace working. But I guess hanging out with friends in the evening without having the slightest worry going to work the next day would be a huge plus ^^,.

As long as you can support yourself financially, I would definitely give up the job to daytrade. That would be the only, and most important, criterion for anybody looking to trade for a living.
 
Fella I know was in the same position as you up until ablout 28. Hated his job, hated his boss, despised his work mates. But he took the attitude of trying to succeed in spite of everything.

Were all in our early 30s now and in the midst of the ****ter economy of doom, he's driving a 7 series just paved off his mortgage when most of US have barely begun ours and has a 7 figure current account.

If I was on 80k and had the prospect of a career I'd think long and hard.
 
spearchew said:
I am single, no kids, no wife, no responsibilities except to myself and so financially I feel quite rich - but what is the point in this existence I ask myself? I can hardly take it any more.

I am compelled to quit my job so that I can sit at home from 7am - 11:30am every day staring at, specifically, the orderbook and T&S for eurostoxx 50. No charts. No fundamental knowledge. Never trading economic numbers.

I would like to do this for 12 months, using the ninja trader simulator, possibly making no trades whatsoever during that time. If at the end of 12 months I have convinced myself that I can successfully scalp the market, I will start putting money at stake (velocity futures, 1.48EUR round turn commissions all in w/ X-trader, if I understand correctly, which is the best I've seen).

So what do I do after 11:30am? My intention was to work behind a local bar, helping to pay for living costs and simultaneously placing myself in a more social setting.
Click to expand...

****ing do it!! My only concern is that I doubt you will be able to watch without trading for 12 months. And why not look at charts?
 
Whether it is day trading or pig farming you want to swap for. It is a risk reward ratio play.

In 10 years time with a high maintenance wife and children at public school to pay for, The R/R will have different dynamics and different meanings. Your risk will not be your risk but your risk and the risk of your family. The value of your well paid city job will be different and your concern of taking the plunge will be much greater, if you would consider taking it at all.

Nobody should have to endure misery at work. Sometimes though, once you have your feet firmly under the desk, bit by bit you end up manoeuvring your position to tailor fit your requirements.

Or it might be your particular company you work for or the particular role in the company that is the problem.

If you decide to take the plunge make sure you have an exit plan. Such as enough of a track record in your current job to make it easier to return to the same industry.

I would imagine about 98% of T2W membership would love to have your problem.

Good Luck (and remember the stats for failure rate.)

Jason
 
Go for it - although id also like to know why you already have a plan regarding trading from the order book alone.
Have you already demo traded such a method and it has been working well for you or somthing?
Is it because you figure that 90% of retail traders lose and 90% of them trade from charts?
What's the deal.
Do it. Good luck
 
spearchew said:
I would like to do this for 12 months, using the ninja trader simulator, possibly making no trades whatsoever during that time.
Click to expand...

Dont waste your time trading with a simulator, trade 1 lot instead (or the lowest possible number of lots required by your method).

You are going to be giving up 50K in lost income. Potentially losing another 5 or 10K of real money isnt going to make a huge difference.

I would suggest a risk management plan along the following lines (trading 1 lot):

Set a daily loss limit of 100 euro's. A weekly loss limit of 300 euros. And a monthly limit of 1000 euros. Stop trading for the rest of the day/week/month when those limits are hit. Go back to the day job if you lose 5,000 euros (500 ticks!).

That is just a starting suggestion, set higher or lower limits depending on what seems right for your method.
 
Last edited:
Thanks very much for all the advice. I'm at work now but I'll re-read the lot closely when I get home. Heart is racing just thinking about the prospect of making the change, not 100% sure I have the guts though.
Funny thing, just now I had this window open in mozila firefox. Boss came over to discuss the market. I minimized the screen but you could still see the words "I want to quit my job" in the taskbar - started sweating thinking he'd see it (He didn't).
 
Right you're 24, working in London and earn 80,000 DOLLARS per annum.
To be a wage slave earning that kind of money you need to be a graduate. So you've been out of university for 0 to 2 years.

The roses are growing well.
 
spearchew said:
Thanks very much for all the advice. I'm at work now but I'll re-read the lot closely when I get home. Heart is racing just thinking about the prospect of making the change, not 100% sure I have the guts though.
Funny thing, just now I had this window open in mozila firefox. Boss came over to discuss the market. I minimized the screen but you could still see the words "I want to quit my job" in the taskbar - started sweating thinking he'd see it (He didn't).
Click to expand...

well you can examine your appetite and tolerance for risk by starting a thread called "I shagged my bosses wife" and see how well you cope under pressure.
 
Thanks all, really pleased with the response. Will weigh it all up carefully tonight, and for several days/weeks to come.
 
nunrgguy said:
Right you're 24, working in London and earn 80,000 DOLLARS per annum.
To be a wage slave earning that kind of money you need to be a graduate. So you've been out of university for 0 to 2 years.

The roses are growing well.
Click to expand...

Well unless you did a masters or took a gap year you normaly start work at 21.
What is the graduate starting salary in the city these days? around 50,000 dollars i would think.
 
You must log in or register to reply here.

Similar threads

B
Should I quit my hedge fund day job?
2
Replies
37
Views
10K
glyder
glyder
X
Quit my job to trade - inspiration
2
Replies
22
Views
5K
Fugazsy
F
A
What I can do after I quit as a market maker?
Replies
18
Views
7K
charliechan
C
schrodinger
I have a ft job..can I trade forex?
2
Replies
25
Views
4K
Gumping
Gumping
S
Am I too old for a job in FX?
Replies
10
Views
3K
Tradecouver
T
Top