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

spearchew said:
Hi,

Would appreciate some thoughts on my life:

Just turned 24 years old, work in London, square mile, earn $80k/year - 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.
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I'd advise working on your money management.

If you need to work in a bar to help pay for living costs after being on an $80k a year salary....

Also, you are saying that if you can't cut it as a scalper you are going to give up on the dream without trying any other means of trading?
 
Devilicus said:
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
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....
 
why not take 2 weeks holiday and trade full time, see what your results are first. you'd be daft to quit without knowing you can do it for real
 
trader_dante said:
I'd advise working on your money management.

If you need to work in a bar to help pay for living costs after being on an $80k a year salary....

Also, you are saying that if you can't cut it as a scalper you are going to give up on the dream without trying any other means of trading?
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$80K USD a year before tax in london isnt a lot unless he is still living at home with his mum :LOL:
 
gender reassignment = hypocritical tw@t. Very Funny.

I am in a very similar boat to you (regarding trading, not the reassignment!)

I would be very careful. There are ways to edge yourself into trading without just jumping in with both feet.

Part-time a couple of afternoons a week by moving shifts around?
1 month holiday from work as a trial?
EOD swing trading?
Day Trading the US close in the evenings? etc.

Why not try those first? If it is anything like my experiences, i go back to work the next morning after being beaten by the NASDAQ for a few evenings on the in a row, thinking "i am so grateful trading is not my only source of income!"

That said, if you are going to do it. Don't do it because of what you read on these boards. The opinions are somewhat biassed. Either Traders that can already trade and therefore see little risk in your dilemma or newbies wanting someone else to make the same mistakes as them to feel better.

I think the issue does not really lie with the job but the no real social life, no girlfriend etc. Why not cut back to normal working hours and spend the increased free-time doing fun stuff and meetig people, or even that bar job! With the fun in the evenings and weekends increasing, suddenly the work becomes more tolerable as it funds the good stuff.

Whatever you decide, good luck!!
 
Best way is to keep working, find a decent etf, spyders etc, and just keep pumping as much expendable cash into it as possible everyweek/month. Do this for about 5 years.

That's wot the pros do.
 
donaldduke said:
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.
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its changed a lot the past few years. This year RBS were offering £60k base for first year grads before bonuses and before sign on bonus and most tier 1 IBs are paying this or around 50. Broadly, your getting a higher base. also you'll find people are starting far later, masters is becoming standard esp. if you did a 3yr degree.
 
cr6196 said:
its changed a lot the past few years. This year RBS were offering £60k base for first year grads before bonuses and before sign on bonus and most tier 1 IBs are paying this or around 50. Broadly, your getting a higher base. also you'll find people are starting far later, masters is becoming standard esp. if you did a 3yr degree.
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RBS would need to offer £60k base to make up for having to have their name on your cv for life thereafter.
 
donaldduke said:
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.
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If you want to be exact, yes. But most people are nearer 19 than 18 when they start, I was also accounting for a sandwich course which is 4 years.
19-20 = year 1
20-21 = year 2
21-22 = year 3, leave
22-23 - sandwich leave ( I left uni at 23)
And walk straight into a job paying 80K :LOL:
 
I'm currently thinking trading myself but too pay off my uni loans. My current job isn't exactly as fruitful as I would like, definitely not anywhere near $80K, but I'm not sure about trading. I'm currently in the UK and because of the tax-free incentive I'm considering Spread betting. But there's lots of brokers out there, For instance I looked at IG index & they offer alot but ETX Capital seems like the type of company to hold my hand all the way through...hmmm kind of confused!
 
benfinance said:
I'm currently thinking trading myself but too pay off my uni loans. My current job isn't exactly as fruitful as I would like, definitely not anywhere near $80K, but I'm not sure about trading. I'm currently in the UK and because of the tax-free incentive I'm considering Spread betting. But there's lots of brokers out there, For instance I looked at IG index & they offer alot but ETX Capital seems like the type of company to hold my hand all the way through...hmmm kind of confused!
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What are you selling.
 
donaldduke said:
$80K USD a year before tax in london isnt a lot unless he is still living at home with his mum :LOL:
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It's not bad for 24. That must be fcker changing your salary back into sterling every month.

If anyone wants a forex spreadbet account with direct market access, they should PM me. I'm not selling anything, but it's out there for very little capital. Spreads do make a massive difference. I can point you to a few brokers that do it.
 
nunrgguy said:
If you want to be exact, yes. But most people are nearer 19 than 18 when they start, I was also accounting for a sandwich course which is 4 years.
19-20 = year 1
20-21 = year 2
21-22 = year 3, leave
22-23 - sandwich leave ( I left uni at 23)
And walk straight into a job paying 80K :LOL:
Click to expand...

mmmmm sandwich
 
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