Anyone here a full time trader?

Question

Hey,

I asked a question yesterday so I could analyse if people actually live of trading without having a job. The results I got suggested that most people do jobs and on the sidelines do trading.

Now i'm just curious if anyone at all here makes a living through trading (a decent living). Also if trading alone will allow me to one day buy a home and hopefully attain some wealth.

I'm not a particular fan of working hours at a job this is why the information is very important here, also I know quite a lot about trading. Finally I just want to ask. In the UK homes probably cost around $500,000-800,000 dollars (1/2 in pounds) and wages are about £24-30k. Bills also add up to a handful.

What sort money would I need to start trading with to afford all of these things or make up to £60,000 per year?

Thanks for reading, I'm looking forward to your answers.

Answer 1

Homes here cost ALOT more than 800,000 dollars.

My house cost me £750k..

Man how long have you been living here? I can honestly say not long enough to realise house prices!

Answer 2

The majority of traders lose money. I think it is because they get too wrapped up in the excitement of trading over the concept of investing.

Remember as a "trader" you are competing with all the professionals out there and their computers.

I am a full time investor NOW and can live off my investments. I trade "some" when I see opportunities.  But that is a little different.

Trying to live off of trading means you MUST trade and I think that is why they lose.

Myself I was able to go to cash last year, hit the beach, and avoid taking the recent 20% hit to stocks.

But I can only do that because I worked that day job, including massive overtime for 25 years. You have to have the money first. Money makes money. And the more money you have the less pressure there is on trading and the better decisions you can make.

Don't quit your day job is my opinion.

If you want to see what you can do, you should paper trade for a while and see what kind of money you can make.

Good Luck.

Answer 3

You can make a great living trading stocks, the idea is figuring out what type of trader you are day trader, speculator, value trader........ start doing some homework on it and read. than figure out which one but, the global markets are very volitile, take your time and than pick some value stocks that pay dividends so while you are learning you are getting paid.

Answer 4

Read Michael Covel's book, "Trend Following" and Jack Schwager's "Market Wizards."

There you will find stories of traders who made a lot of money both for themselves, and for their investors, trading the markets.

It takes time to learn how to trade--8 out of 10 flunk out at the end of 12 months.

Read the books I mentioned above, then start trading. Good luck!

- Jim http://jsforex.blogspot.com

PS

If you wish to interact with traders who are on this same path, go to elitetraders.com

Answer 5

I used to trade full time last year but honestly I didnt make enough to make my time worthwhile. Now I trade on the side. However, I did work with a lot of great traders who have been doing this for many years. Most prop trading companies will let you trade 200K or more with an account of $25K. This is usually enough to make a living. The difficult thing about trading fulltime, is that you go through a lot of ups and downs so the pay is not consistent. It creates much stress unless you already have ample cash in the bank.