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Full-time Traders?

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Limitless
Contributor
Hi Everyone... just a quick check on who are the "full time" traders, and out of interest where you from?
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32 REPLIES 32
Super Contributor
I am a full time investor for 20 years and trade occasionally.based in joburg originally from uk.
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Super Contributor
Being around OST since 2006. Part time /semi part time trader and investor.
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Super Contributor
From Durban, land of sea and surf ,but now residing in Gauteng.
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Super Contributor
From Gauteng - now in Durban. I must have passed you en route. Full time managing my funds. Too much trading lately - to kill the time.
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Renesh
Senior Member
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Super Contributor
Doubt there are any "full time traders" on this forum. KZN Midlands all my life, investing in shares since early '80s, glad to see that "sickness" has rubbed off on all 4 of my kids. Still too busy in the business world, hopefully handing over most of the responsibilities shortly, then more time trading CFDs which I really enjoy, but sitting in front of the computer all day to trade...not for me, more to life than that.
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Super Contributor
@THRESHOLD, always a possibility that we passed one another. Firmly believe ,that trading keeps one mind extremely active.
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Frequent Contributor
From Johannesburg. Started about 7 years ago with the idea to have some high risk high return fund (as against pension fund)for my retirement. Did not have much money, so started investing in penny shares. Still have the penny share account. But also tried forex trading, not having much success with that.
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Super Contributor
Heh1 I am trying to train (brainwash) my 2 boys - Law and Accountancy, Law and Accountancy, Law and Accountancy. OK - Medicine is good too. Record the mantra put it on repeat when they sleep. That way - I am betting they will have an interest in this investment thing too!
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Super Contributor
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Super Contributor
2007 I gave my money to a couple of brokers to trade, they nearly wiped me out in 2008 and swore that nobody would ever look after my money again. Dabbled in warrants and got burnt! I like Riette approach to trading and have tweaked it to suit me, best thing I did.
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Frequent Contributor
use to be a full-time trader for a couple of years, now trade part time...ironically I do much better.
Just wish I had more time to do algo testing....

A lot of my trades these days seem to happen at around 6pm - 8pm, otherwise I look at my investments every now and then.
Investments are somewhat local.
My trading though has completely moved away from ALSI, now I only focus on S&P and DAX...which Im LOVIN!
Cant believe I didnt move earlier.

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Frequent Contributor
FYI: if anybody asks me how much capital you need to become a full time trader, the answer is easy.

Minimum - R 5million (Net - after homeloans, etc)
Dont care how good you are or how good your system is,
psychologically you will get broken if you dont have that minimum.
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Super Contributor
No, not really. You could do reasonably well with that money in the bank and live off the interest at a modest 5% pa. But as a trader, you are doing badly at 10%pa, but that doubles your income. now, if you are a really good trader, you could be doing up to 20% PER MONTH. All you need then is R100 000 minumum.
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Frequent Contributor
never said the full amount was trading, only 10% is for trading.
I think anyone advocating that you can trade fulltime with only
R 100,000 doesnt know what they are talking about, or is trying to negligently lead others off the cliff.

I stand by my statement.
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Super Contributor
ok., minimum R100 000, your 10% brings it to R500 000(probably what you need trading about 10 ALSI contracts). So why did you post a figure of R5 million, whats the balance for?
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Highlighted
Frequent Contributor
the balance is for making sure rent, groceries, petrol, clothing is paid for without worring.

You always need to make sure you are covered before entering a market.
With your suggestion a person who enters with R 100,000 and makes R 20k per month...considering living costs these days are easily between 10 -20k per month that means best case scenario you just make ends meet, worst case scenario your account shrinks in a bad month and you suddenly need a 40% return to just make ends meet.

So because you cant afford to take 1 loss ---> psychology kills you in the end.
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Super Contributor
no, you cant be worrying about rent etc if you want to be a full time trader. If you had R 5 millioncash, then you best do what you been doing to have earned that amount net of morgage etc. All you need is R100 000 minumum, live in your mothers house or marry a rich wife...
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Super Contributor
if you have resposibilties, kids school, kids healthcare and such, full time trading is probably npt for you. Even R5 mil is not going to save you from a protracted drawdown. 5 % interest on R5 mil is about R20 000 per month, guaranteed and stick with your day job, and make the next R5 mil.
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