Hi,
I’m graduating from university next summer and looking to go full time with my trading. I have been trading for 3 years being consistently profitable for the past 13 months. My average monthly income from trading is more than enough to allow me to live off of it while also growing my account. That being said I was hoping to get any advise people have in regard to making the transition in terms of withdrawing funds for the first time, the lifestyle change, best way to withdraw funds(weekly or monthly) etc literally anything and everything. Even advice on things such as explaining to friends and family that I am able to make so much without following the traditional 9-5 route and what exactly my job title would be? Might sound like a silly thread but I want to mitigate as much risk as possible during the transition.
Thanks in advance!
Hi. There are different outlooks but this is my opinion on this. Either you’re growing your account or living off it. One or the other, pick one. If you’re growing then get a job for when you dont trade and pay your bills with the money from the job allowing your account to grow and no pressure to pay a certain amount every month. If you’re living off it, then withdraw every month. You’ll know what % you need off your account to live. So all you need to do is that % on average every month.
I wouldnt tell anyone you trade for a living. People dont want to know you stay at a home with a computer and make money. Trust me, I’m talking from experience. You then get a lot of people constantly asking you, waiting for you to say no I lost money today and then boom, ‘you should get a job, this is too risky’ etc. Quietly go about your business, live the way you want.
If you did want to explain what you do, I said I traded on the stock market (even though I’m in forex). People understand this more easily.
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I see what you mean about either growing or living off of your account I’ll definitely take that into consideration. In regard to telling people I have had that exact reaction from the few people who know that I do trade I would imagine saying that I’m a stock trader would be a better option and even get a more positive, understanding reaction from people. One worry I have is graduating and then being completely isolated from friends as they begin their 9-5 careers (not that there is anything wrong with that) with limited free time while I will be far more flexible I think I’ll need to find some other traders where I live.
Yeah, that’s why this community is good. Theres always something being discussed. But quite the opposite, you’ll find that actually you’re free for more nights out. Friday nights, Saturdays and sundays are free. I haven’t turned down a birthday or night out for ages as I’m always free. Weekdays, you should be trading, reading, learning, studying, analysing and documenting your trades and statistics.
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FIrst, congratulations! That’s quite an achievement. Well done!
Regarding trading for a living, I would want at least a year’s worth of living expenses stashed away before I would embark on such a journey.
Regarding being isolated from friends, think of your trading as a job. You won’t be able to meet friends if you were working a job so the hours you spend trading may be viewed as hours spent at a job. Once your friends see that you’re trading supports your lifestyle I can guarantee you that they will want to learn how to trade too. You can mentor them (oops I used the “m” word on BP. 
) and then you can all trade together.
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