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Online Share Trading

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leave my job and trade warrants full time

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Not applicable
I am thinking of leaving my job early next year to trade warrants full time. I started trading warrants since June 09, since then I've been making 15-20% profit. is this a good idea?
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19 REPLIES 19
Big_Bucks
Super Contributor
Short answer.....NO, well done keep it up but do it part time OMO
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Roniqua
Contributor
is that 15 - 20% per trade or for the whole time since june. I guess if you have small amount like i do you need to be part time.
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Not applicable
Yes Good idea ... leave it and go trade
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Not applicable
Read the other thread about this, it got quite intense lol
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kwagga
Super Contributor
Chat to HateGauteng - His been doing it for a few weeks now. I'm sure he'll tell you a few things you didn't think off.
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DEP
Super Contributor
No! Very dangerous proposition. Trade part time...
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HateGauteng
Super Contributor
It's been up and down, so far took a small profit today. I made my old take home salary within a day of trading but I got greedy and left it hoping to make more. It still looks like more to be made but time is the factor. Changed my strategy a little. I now keep a few months of reserves in cash to pay the monthly bills and trade with the rest. So far I'm still upbeat and suspect I can make at least twice my old monthly salary (which used to pay for a new 4x4 and eating out every meal) each month if I had the discipline to take profits on time. If you got a decent understanding of some technical analysis and discipline then I suggest you go for it. It took be a little more than a year of learning to reach this stage.
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prancing_horse
Super Contributor
TNNF, give us your age, how many wives, mistresses and kids to support and is your house and car paid for, then we can give you an idea you what capital you need.However if you have only been in the game since June, then carry on working, because you are way behind in your school fees.
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Shard
Super Contributor
I'd say see your current position as a portfolio. Job = Low risk fixed income, Trading = high risk variable income. You need both. Also 6 months isn't long enough a track record to establish that you can trade warrants for a living. I know its appealing but i'd hang onto the job for atleast another 2 years before making decisions like that.
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john_1
Super Contributor
the question is simple...If you are already doing it and have your job...why stop the job? trading for a living is absolutly possible..but why rush it.
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Not applicable
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Wizard
Super Contributor
You think that u know a lot about the market but u don't. Give u 10% probability of success!
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Not applicable
When I started trading the market was fairly regular and I was making good money. This makes one overconfident. When 2008 fall came I was taken by surprise and bombarded by news from bears saying company earnings were so low it could not keep rising after the crash, but it did rise and is (about 50%?) now significantly up. I'd say the market catches one unawares sometimes and you can lose a lot and keep losing for some time.
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Galuc
Super Contributor
I dont know how old and wise u are but take a leaf from these boys book and listen to them, carefully! Don't give up ur day job. Trading shares is not easy, but trading warrants is like flying a kite in a tornado!
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Not applicable
with all above advise included, make sure you are earning enough to triple your current income every month plus have about 12 months worth of saved capital for your monthly expenses. If you have that and still want to go full time you have enough to make a go of it. Remember bigger trades, bigger risks....
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Not applicable
I been trading for around 7 years and I still wouldn't quit my job to trade full time. However, when the big break comes I might decide to trade full time :)
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Not applicable
I am definitely going to trade privately. But I dont see it happenning anytime soon. Point is, I cannot handle the emotions properly yet to trade futures. Somedays I'm "in the zone" making high probability trades and cutting losses quickly...and somedays the gambler in me desperately wants to make those points I lost earlier in the day. I know I have the technical abilities, but its the consistent emotional discipline that is the hardest thing to develop!
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jack12
Super Contributor
yea the psychology of trading!!! I trade full time and I like it. Would I advise it to someone else???? Thats like asking everyone in the street if you should get married!!!! Short answer is YES you can, everyone and anyone can trade full time. There are 20 other questions that need to be answered first that are more important. Are you psychologically ready to trade? and do you have a reliable exit strategy??
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Not applicable
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