Trade for aliving forx

Hey Guys,

Was wondering how many of you traders, really trade full time?

I’ve only ever met full time traders that work for companies that trade and try to sell you there product…

cheers Rafmed

I do.

And, I work out of the house…

How long have you been a trader for?
Is it hard to do?

I’ve “dabbled” in trading for nearly 20 years…

It’s always been my passion, but life and jobs and a family forced me to keep it on the back burner…

A few years ago, I quit my job comfy job cold turkey and started my own investment company, primarily Real Estate and Oil and Gas (my background)…

Then when the RE world died, luckily for me the oil world picked up… So, I began, and continue to run my oil operating company… passively…

So, now, I have my oil company that is run remotely by me, mainly on the phone and email with my superintendents. Which freed me up to follow my passion, which is trading…

I’ve been trading full time for the last few years…

It’s not “hard” per se… the hardest part is working from home… BY FAR that is the hardest part… When my wife comes into my office and sees me reading a book, while I’m waiting for a setup to happen, or when I take my young kids out to the playground during the middle of the day, and my wife sees that “I’m not working” etc… Then all of the sudden, when I am in the middle of a trade, or closely watching my setup, then she feels completely OK asking me to “help” with the young kids (we have 2 under 2), etc… THAT is what makes trading hard, imo.

to be home with the family… hard is hard, But what in life isn’t hard…

Thanks for sharing that…

I am full time, too, similar story - small kids, work full time from home at the trading. My wife works from home, too, although for a big company and not in trading. We both started working from home when the kids started turning up, in order that we could share the childcare. My wife works for her original employer, just doesn’t go into the office as often, I left my original employer and took up trading. Turned out it pays better than my old career, too, which is a bonus! I have a few friends who are full time traders (in that they derive their sole income from trading), yet are privateers not affiliated with any company.

As for me when you’re at home you can’t be attentive enough as you’re at office.

the more experienced you become, the more free time you can devote to trading.

I’m full time, this is my first year full time and I’m doing pretty well for myself. I’ve only been trading Forex for 2.5 years and when I graduated college I told myself I’d take a year off and give it a shot going full time, and so far so good.

I do devote a lot of time to trading, well reading and studying but it’s satisfying.

The hardest part is that most people view me as a guy who doesn’t “work”. Everyone thinks I found some sort of “secret method” that I make money off of and that I refuse to get a job with my Computer Engineering degree, so I’m not really respected, but to each his own.

I would imagine you are respected more than you think.

Respect just doesn’t shine though envy very well;)

good topic.

I am just a wanna be. I’ve got a live account and about 2 years part time study under me – and I don’t see the light yet. I think I have glimmers once in a while . so . keep plugging away.

That’s Very true…:smiley:

I’m the same, have been with a live account for close to 2 years,
I’m hoping to get good enough so i can go full time by next june,
I’m on a dead line.

Thanks rafael

yes - think of a degree lasting 3 years not only in technical tactics but finance, economics, and psychology (personal).

That for me is a key point that does not get enough airtime. Perhaps because we all know it and take it for granted, but I still think we should make a bigger thing of it as it is very relevant to managing the expectations of newer traders. I have a(n unrelated) degree, for which I studied for four years. That led to a ten year career which I left voluntarily for lifestyle reasons, I consider the degree course I did a good investment of my time as I gained core skills I needed directly for my subsequent career, as well as a lot of life skills (particularly as the degree required foreign travel). The career it unlocked helped me buy a house, cars, hobbies, all the regular stuff.

I now trade full time, and that is more financially fruitful than my previous, management-level career. It also gives me the flexible hours to look after my kids and spend time with them while they are still small, and to pursue a couple of more time-consuming hobbies without impacting negatively on family life, so it is a career that gives me a lot of benefits in return for the time invested in learning.

Learning trading has taken my psychological resilience to a new level, and enabled me to have a good career that pays much, much more. So I don’t begrudge at all that it cost some money and time to get to this point. If, at the outset, someone had told me that it would take me three/four years and cost £30,000 to get to this point (broadly the degree costs), with this income and lifestyle, I would have bitten their arm off and considered it a great investment in my future. The fact that it took much less time than that and cost a good deal less is just a fantastic bonus.

So a degree cost money, took me four years, and led to me having a broader outlook and a good career.

Trading cost less than the degree, and has taken less time to make profitable. So if new traders express concerns that they are making a loss, or are inconsistent, they need to hear that that is not necessarily something to worry about. Think of this as a career (even if you plan never to go full time, but keep it as a secondary income) and suddenly the time and cost requirements don’t seem so bad.

Anyway, sorry, conscious that I am ranting a bit, for which I apologize. I just wanted to say, we need to be very open about that fact trading takes time to get good at, like any skill, and will often cost some money initially (even if you don’t take professional training, which I did, it is unlikely that one will start out consistent, and the money tied up in a trading account must be considered a cost as you are not able to do anything else with it), like any education and training, but this does not mean it is not worthwhile, not a great package. And then most businesses have running costs, while trading is very cheap: a computer and internet connection as a minimum, and you can even get the charting software for free.

Sorry, rant over, I am not disagreeing with anyone on this thread, far from it, just expressing a view that I think needs to be out there, bith to help manage expectation, and to put it into context.

Sorry - did not realize that that would come out quite so longwinded on the screen! Apologies.