Full time trading a success?

[SweetAnalyst]

Hi, everyone!

I am not sure if there's already a thread regarding the same question as mine, but I am very interested as I am about to lose my job. I know trading is hard with the kind of market that is not consistent and very challenging but what if making it Full-time? Is there any chance? or is there anyone here that have been working with it full time and succeed?

I always wanted to start but maybe I lack confidence and inspiration. I need some words from you guys!

Thanks in advance.

 

[seekingTruth16]

Hi, everyone!

I am not sure if there's already a thread regarding the same question as mine, but I am very interested as I am about to lose my job. I know trading is hard with the kind of market that is not consistent and very challenging but what if making it Full-time? Is there any chance? or is there anyone here that have been working with it full time and succeed?

I always wanted to start but maybe I lack confidence and inspiration. I need some words from you guys!

Thanks in advance.

It is unlikely that trading will solve your problems. It is more likely to make them worse. The most likely outcome is that you will lose money until you need to stop and get a new job. So my opinion is that you should just get that new job, and if you have an interest in trading, learn on the side and test what works and doesn't. Have an alternative income to support yourself.

Also I suggest looking at the numbers and being realistic about the returns. Assume that you have a large edge, you win somewhere between 51-55% of days, and you win or lose 1% on that day. Run a random simulation of the results based on these probabilities (you can do in Excel easily enough). Have a look at what you end up with as salary per month. Run a few of these simulations and you'll see that even after a year, with a starting capital of 100k, you can end up down, or with very small gains (less than an average or even low paying job), despite this large edge.

Do you have more than 100K starting capital and do you have enough set aside to cover for down days/months/years?