Once you mature in trading and become a consistently profitable trader, the question arises: are you ready to trade full time?
Becoming a full time trade is a very significant step and my things must be taken into consideration before you make it.
✨ Becoming a full time trader implies that you quit your current job, that you give up a stable income - your salary.
In contrast to classic job, trading does not give guarantees. Please, realize that such a thing as stable income does not exist in trading.
Trading is a series of winning and losing trades, positive and negative periods. For that reasons, remember that in order to become a full time trader, your average monthly trading income must be at least twice as your monthly expenses.
✨ Moreover, even if your trading income is sufficient to cover two months of your life, that is still not enough. You must have savings.
Trading for more than 9 years, I faced with quite prolonged negative periods. One time I was below zero for the entire quarter. For that reason, supporting a family and living a decent life will require savings that will help you not to sink during the losing periods.
✨ Another very important sign is your correct and objective view on your trading. Please, realize that if you bought Bitcoin one time and made a couple of thousands of dollars, it does not make you a consistently profitable trader.
Please, do not confuse luck with the skill. Your trading must be proven by many years of trading.
✨ You must be emotionally prepared for the living conditions that full time trading will bring you.
Being a full time trader implies that you are constantly at home, you work from home from Monday to Friday.
You do not see your colleagues, your social life will change dramatically.
I know a lot of people who started to trade full time and then realized that they can not work from home for different reasons.
⭐️ So what are the necessary conditions for becoming a full time traders:
you should have savings that will cover the negative trading periods, your average monthly trading income should be at least twice as your monthly expenses, your trading efficiency must be proven by objective, consistent results, and you must be psychologically prepared for working from home.
When these conditions are met, you can make a significant step and become a full-time trader.
Very good points. But if you trade a systematic system you don't need to be at home all the time. My trading system requires around 30min to 1 hour a day. Once done, I can go about my day and do other meaningful things, instead of sitting in front of a screen.
lego99
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@franskk exactly if you are at home 24/7 watching charts you are doing it wrong
motoxrider659
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I’m doing paper trading prepping to get funded and so far, I’m way more profitable doing 30-1:30 of trading a day rather than trading all day. I don’t have a lot of time during the day to trade working a FT job but if I have for sure 30 minutes to sit there I’ll trade if its part of my strategy.
@VasilyTrader, no. absolutely not. If i read this. Very wise story that you had mentioned here, i wish and work hard to be one fulltime trader/investor in the nearby future!
AndreStroman
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Thanks for the sharing the great information! I have been trading for 4 years while working a FT and PT. My trading journey has been a roller coaster 🎢 of emotions: wins and losses. I agree 💯 with being consistent. Keep up the great work and thanks again for the insight
ak4442
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This is probably one of the most useful quick guide to questions one should ask themself if they should go full time trading. The inconsistent income is certainly a negative, but on the flip side, when you are that good… you can make so much more than your day job. So… really depends on how good you are at it. The other point is objectively and clearly knowing your “edge”, which is something that can be easily confused with a few lucky investments or short spurts of wins. You really need a strategy that’s been tested over long periods of time over many economic environments… and if you’re still consistent, then probably you are too good for a job. Anyway, appreciate the post. It’s great to see that other people are thinking critically and passionate about trading.
My trading system requires around 30min to 1 hour a day.
Once done, I can go about my day and do other meaningful things, instead of sitting in front of a screen.