TRADING MAY SEEM LIKE A GREAT THING TO DO OVER WORKING YOUR 9-5 BUT IT’S PROBABLY NOT THE BEST IDEA FOR MOST PEOPLE TO LOOK AT SOLY TRADING AS A CAREER.
It sounds awesome to say you’re a full time trader you trade the market for a profit to make a living, but its a lot of things people leave out when they tell you their crazy success stories. The first thing i want you to think about before making the decision to quit your job and start trading full time is do you have a plan. This goes farther then a trading plan do you have a plan on how you can live from your profits from trading and that’s along with a consistent trading plan. Can your saving with stand the risk of your trading strategy or your lack of a trading strategy. One of the biggest things not only in trading but in life is longevity how long can you live off of doing what you’re doing. If for instance you happen to go in unsure and think a profit will magically fall in your hands it just might but how many times can you make the profit fall in your hands. Plain and simply if you blow accounts, scared to close a lose, scared to hold a win, don’t want to read and talk to others about the subject, or put yourself on a schedule to where you can actively trade the markets successfully, Its probably in your best interest to do this as a side hustle.
Trading isn’t a get rich quick scheme most may tell you this but then they show you or tell you about amazing win rates and how easy it is to be successful. If you ever read any book on the subject of trading anything no matter the asset class they inform you this isn’t an easy skill to learn don’t be fooled by people telling you to put yourself in a situation you cant handle. I’m not saying its impossible to make a living off of trading its people that legitimately have but I’m pretty sure they aren’t flashing lambos and phat cribs. Trading the financial markets is a business and you have to treat your actions as such, if you wouldn’t pay some one for shitty service why would you pay the market for a shitty stock or why would you pay someone for a shitty options call. That’s how you have to think while you’re trading the market for a living and be ok with not being in the market somedays because everyday isn’t a day to trade.
The thing I can say about your 9-5 is its an consistent pay check, and it would be crazy to leave a consistent paying job for the American dream. Where as i can’t agree with the whole system of how jobs work no-one can deny the previous statement. To be honest I believe that 99 percent of day traders lose it makes sense and I hate to go back to our gurus but I’m sure most if not all fall in the common statistic. One of the best ways to approach the stock market is at an investors point of view, really evaluate the companies your planning on investing in or even trading. Another good piece of advice ill give to all my readers here is don’t buy courses from these YouTube traders and if you are planning on buying a course make sure you dig deep and hard and find out everything you can about it before you put your money in. I myself have been burned a couple times on courses thinking I’m going to learn how to trade and be this awesome day trader. Just to end up learning from studying market movement, reading books, listening to books, watching videos on YouTube, and talking to other like minded individuals. I know I said a lot about YouTube traders but some actually have something to teach, One of the best in my opinion is Adam Khoo give great information maybe a little frightening for a beginner but I would say still a great place to start.
The point of this article is to just touch on a couple key points on the popular subject of leaving the good ol 9-5 to start trading full time. And give you a bit of sentiment from someone who trading full time from experience It wasn’t exactly a choice for me at that point of time, But it’s likely a choice for you. In my personal opinion I would say don’t quit your job and try to day trade for a living. If that’s your plan slowly ease into it and plan out how you can live off trading. Cause believe me its not as easy as people put it off to be, even if you can make some profit you have to be able to plan around that profit. Some may be able to do so but most may not being its such an unusual situation, for those that are still looking to take that leap I wish you well and hope you come with a plan. Best of luck traders and be watching out for my YouTube channel don’t worry about the name right now you’ll be the first to know. The subject will be live trading and probably check out some crypto earning sites and other financial talk.