Am I mad?

Steakeater said:
Ok, so here is my situation now, I am on the verge of handing in my notice to my job to give full time trading a go. The only thing I am unsure about is to whether I should I should do it from home with my own account or join a prop firm? :?:
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+90% of traders lose eventually , why leave a good job now , you can trade from home while maintaining your job ...
 
You were asking about Futex. Give them a call and ask how many make it and how long it takes them.

If you're willing to commute and sit in there for two years on no income and then *maybe* make then do it.
 
The problem I have been encountering with trading around work is that during work the markets seem to be turning against my positions and stopping me out whilst I can do nothing about it! It drives me mad! I have had 6 losers in a row!

Has anyone else encountered this specific problem and if so how did you overcome it?
 
rawrschach said:
You were asking about Futex. Give them a call and ask how many make it and how long it takes them.

If you're willing to commute and sit in there for two years on no income and then *maybe* make then do it.
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I spoke to them and was told around 70% make it. They said that if you can stick a year then you most likely have a career as a trader.
 
Is there anything that is easier to trade out of work hours or any specific strategy that you guys have found successful?
 
Steakeater said:
Ok, so here is my situation now, I am on the verge of handing in my notice to my job to give full time trading a go. The only thing I am unsure about is to whether I should I should do it from home with my own account or join a prop firm? :?:
Click to expand...

You're an idiot if you do that, an absolute idiot. I have heard of worse things though, there was a builder who came on here once and said he was selling his van and tools to take up 'professional' trading.
 
Steakeater said:
I spoke to them and was told around 70% make it. They said that if you can stick a year then you most likely have a career as a trader.
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Have you considered they might just be exaggerating a bit? How much are they asking you to pay?
 
pboyles said:
Have you considered they might just be exaggerating a bit? How much are they asking you to pay?
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Haven't asked me for anything, they were referring to their grad scheme. They pay you £500 a month for the first 6 months after that you're on your own.
 
Steakeater said:
Haven't asked me for anything, they were referring to their grad scheme. They pay you £500 a month for the first 6 months after that you're on your own.
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OK so read the posts by timyoung, he was on a free course at Schneider.
 
The saying goes Only fools rush in....

You are asking questions like "I have had 6 losers in a row! Has anyone else encountered this specific problem and if so how did you overcome it?" and yet you are thinking about quitting your job?

Someone needs to come around and slap you across the face. You are deluded.

Oh what the heck, I'm quitting my job to become a professional tennis player, after all I've played a few games in the past, I know what I'm doing. Am I mad?
 
Steakeater,

I have said this before and I will say again :

You will need about 5 years before you maybe start making a consistent income.

No ifs, no buts.... and no guarantees at the end of it all.

In fact I would be prepared to bet any newbie £1000 that they won't be profitable (say 3 consecutive months) within 3 years.

After 4-5 years, you might just be getting close - if you've got the mental strength to stick with it.

I just get the impression you think it will happen sooner. Trust me, it won't.
 
Steakeater said:
Has anyone else encountered this specific problem and if so how did you overcome it?
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Of course, it's the same for everyone. You overcome it by realizing that you're not trading; you're gambling.

Steakeater said:
I spoke to them and was told around 70% make it. They said that if you can stick a year then you most likely have a career as a trader.
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Sounds like BS to me. How many drop out after a year? They're probably only counting those who last at least one year.

Steakeater said:
Is there anything that is easier to trade out of work hours or any specific strategy that you guys have found successful?
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Nope. Nada. You're going to have to put in the work.

------

Given all this, yes, you are mad. Don't do it. You can always check the market on the side while having a steady paying job. Don't think the grass is greener on the other side. More than likely you'll lose your stake then have a hard time getting back into your old profession.

It's so much smarter to just go at it on the side with a steady job to support you until your pet project takes off. It'll take longer, of course, but at least you won't go broke.
 
VielGeld said:
Of course, it's the same for everyone. You overcome it by realizing that you're not trading; you're gambling.



Sounds like BS to me. How many drop out after a year? They're probably only counting those who last at least one year.



Nope. Nada. You're going to have to put in the work.

------

Given all this, yes, you are mad. Don't do it. You can always check the market on the side while having a steady paying job. Don't think the grass is greener on the other side. More than likely you'll lose your stake then have a hard time getting back into your old profession.

It's so much smarter to just go at it on the side with a steady job to support you until your pet project takes off. It'll take longer, of course, but at least you won't go broke.
Click to expand...

Putting work in is one thing I am not afraid off, what I really meant was do people who trade after work tend to position trade and hold for a few days or months or just trade for a few hours at night and then close all positions before going to bed?
 
Steakeater said:
Putting work in is one thing I am not afraid off, what I really meant was do people who trade after work tend to position trade and hold for a few days or months or just trade for a few hours at night and then close all positions before going to bed?
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You can day trade the e minis in the evening. Can you day trade in the evenings and make money? Probably not, but it's better than having no job and trading all day to make no money.

If you can't make it trading in the evenings what makes you think you can do it all day?
 
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