10 replies to this topic

[Scott-stock]

Is it possible to make a living from Trading? FULL TIME! What do you think the minimum amount you require to start and what type of returns do you require. THANKS

[Woody]

Is it possible to make a living from Trading? FULL TIME! What do you think the minimum amount you require to start and what type of returns do you require.

THANKS

Try This as a starter,

Worth Every Penny

[S.I.M.O.N.]

Is it possible to make a living from Trading? FULL TIME! What do you think the minimum amount you require to start and what type of returns do you require.

THANKS

jmho, but i would not even think about trading for a living unless i had the following
1. Paid off residence
2. No debt whatsoever, car loans,CC,student loans etc,
3. 1.5yrs of living expenses in emergency fund
4. Min acct balance of 150K
5. Atleast 3-4 yrs of real-time trading exp(making a consistent return. min 5%/month avg)

The less bills you have at the end of the month, the more money you'll make, don't know why that
works, but its the truth. I am currently thinking about going completely solar even though it would take
20yrs for it to pay for itself, just to eliminate one more bill, also waiting for a good hybrid plugin to make
high gas prices irrelevant.

One thing is for sure, if you do survive as a trader for 1-2 yrs, there is no going back to the 9-5 wage slave
world, its a one way street.

[vitaminm]

Is it possible to make a living from Trading? FULL TIME! What do you think the minimum amount you require to start and what type of returns do you require.

THANKS

A simple calculation is

Living money needed for a year / %return =money needed in Investment

For eg

50k / 10%return=500k needed in fix investment

Do a paper trading at home for a month and see how much you can make on paper before u open a account with brokerage firm.

http://www.zecco.com...x?tab=CompareUs

[Scott-stock]

Is it possible to make a living from Trading? FULL TIME! What do you think the minimum amount you require to start and what type of returns do you require.

THANKS

jmho, but i would not even think about trading for a living unless i had the following
1. Paid off residence
2. No debt whatsoever, car loans,CC,student loans etc,
3. 1.5yrs of living expenses in emergency fund
4. Min acct balance of 150K
5. Atleast 3-4 yrs of real-time trading exp(making a consistent return. min 5%/month avg)

The less bills you have at the end of the month, the more money you'll make, don't know why that
works, but its the truth. I am currently thinking about going completely solar even though it would take
20yrs for it to pay for itself, just to eliminate one more bill, also waiting for a good hybrid plugin to make
high gas prices irrelevant.

One thing is for sure, if you do survive as a trader for 1-2 yrs, there is no going back to the 9-5 wage slave
world, its a one way street.

[vitaminm]

Is it possible to make a living from Trading? FULL TIME! What do you think the minimum amount you require to start and what type of returns do you require.

THANKS

Here is a good site to go thru.

http://www.howthemar...ng/register.php

[Sentient Being]

My brother in laws friend decided to quit his day job and to become a trader. He figured with the returns he was making in tech he was a trading god and the time had come. When the tech bubble broke, he blew up and had to go find a job. Turned out he WASN'T a great trader, just riding a bubble and clueless, the same as most who rode it. A guy I was tracking on another trading board thought he had finally mastered trading. He started playing with leverage and took a sizeable postion. It moved against him and he excitedly bought more, sure he was going to rake it in. It kept moving against him. He started to grumble. Then he became desperate. Then he sold, took his losses, and started playing with massive leverage trying to get even. Turned out he had lost most of his retirement money and was afraid his wife would dump him. Finally the board moderator locked him out for his own good. Told him to stop trading and locked him off the board. At what point do you really know you CAN trade for a living and aren't just a little bit lucky and suffering from a lot of self delusion? I don't know. I don't have the answers. I just know that CAUTION and Risk Management are important because most who play this game lose at it.

Edited by Sentient Being, 04 April 2007 - 08:11 PM.

[cycletimer]

Is it possible to make a living from Trading? FULL TIME! What do you think the minimum amount you require to start and what type of returns do you require.

THANKS

It depends on a plethora of things including your preferred instrument. I left my fulltime job at age 40 late last year and my only fixed expenses are child support and a car payment. Aside from that, I trade ES (emini). I do personal training in the evening for several hours because it gets me out of the house and I enjoy the public interaction, plus it involves NO STRESS. No boss, no micro-mgmt. no B.S.
Anyway, you do need a comfortable amount of trading capital....plus a little extra, to pay your bills for say...six months to a year...so you do not have to dip into your account to pay them.
Even this to some on this board is not enough dough to quit your job and trade. But my moto is
"Live Life Aggressively!"

[*JB*]

Is it possible to make a living from Trading? FULL TIME! What do you think the minimum amount you require to start and what type of returns do you require.

THANKS

Of course "one" can. But it has more to do with your abilities and discipline -- including the ability and discipline to manage your finances (live cheap) ....and it REALLY matters MOST how much you want it.

What are you really willing to do? Can you USE failure to grow or just let it defeat you? Do you "know when to hold them and when to fold them"? Can you live a VERY frugal life and will your spouse and kids be supportive.

When I decided to do it for a living, I quit my career job and worked a night job to pay my bills....while traded days for 4 years. VERY little social life, or sleep for that matter. But I wanted it!

At 57 I was able to retire, but I could have ended up working longer for someone else and a lot poorer if I didn't have what I needed to succeed.

Edited by *JB*, 05 April 2007 - 04:28 PM.

[raleigh]

In 1999 , I saw an ad on TV about day trading to riches including buy own helicopter so can fly to own island, Yes, life is good, so is greed.