Working > Trading?

Question

Hey,

I was just wondering whats better for making money Working with average wage or trading/investing?

I know a lot about trading/investing but some people tell me working is much better and will allow me to earn money faster.

If the market was stable instead of being in a recession then wouldn't being a trader be much more profitable?

Ofcourse i've never done any work neither traded/invested I just know everything about it and have made profits in some simulations...

Thanks for reading, Looking forward to your answers and would really appreciate it if someone tells me which one is better through experience. I really want to be a trader but if I wont earn enough maybe I should reconsider.

Answer 1

Why not do both?

You can get work as a proprietary trader, fund manager, stockbroker, or trade your own account full time.

If you want to just trade, be a proprietary trader. There are a number of firms out there that will take you in as their trader and let you trade firm capital. Google "proprietary trading" and go from there.

It might be challenging for you to get in these firms as you have no experience trading a live account. If you are serious about pursuing this path, open a live trading account and rack up good performance numbers to show to these people.

Some of these prop firms may take you in to trade firm capital, but may ask you to put up some capital as well.

There's a big difference trading a demo account and a live account. Get trading with a live account as soon as you can to get past the learning curve.

Good luck!

- Jim http://jsforex.blogspot.com

Answer 2

Trading is a fun way to make money... kind of like gambling at a Casino but not quiet as risky.

However, it should not be your sole source of income. It should be a side source, because of the risk. To make real money, you have to keep re-investing your original amount while putting your profits aside. But what happens if you lose it all? You have to be prepared for that too. That's why you need another source of income.

Answer 3

If you can consistently make in the market for 3 mths. what you would at a job, you have a strong argument. Other wise keep your day job.

Answer 4

dear sir,

all in life has risky.. i prefer u working and do trading as partime.. but please dont forgot pay yourself first every month..just visit my blog for saving money techniques

cheers,

http://saving-money-techniques.blogspot....

Answer 5

You make a living working, you make money using your head.

Investing/trading is more financially beneficial if you have perfected your trading/investing plan.

There are four important issues that you must cover before you start investing/trading,

1 - A written sound trading/investment plan with rules that will not only help you but more importantly protect you, mostly from yourself.

2 - Sufficient trading/investment capital.  Use your own money, there’s no need to go into debt so that you trade/invest.

3 - A written money management program in place. .

4 – A full and complete understanding of the rules & regulations of the industry.

Trading/investing is work, it requires skill, and continueous education.  Maybe you don't "work" the long hours but you definetly work.

Nothing in life is easy, nor does it come easy, you must work at every thing you do.

If you have the proper plans in force, you learn to make money in good markets and bad markets.  You learn that you don't care if the market if going up or down, as long as it's moving.  The only time a market is bad is when it becomes stagnic, but that when you vacation.

Paper Trading/investing or using simulators is not the same thing as make a definitve hard financial commitment, but using a good money plan you can be successful.

Answer 6

As someone that does both, I would recommend you get a job first and steady pay. Living off trading and investing of less than 1 mil is extremely difficult. Nearly 90% of daytraders blow out their accounts. Get yourself a steady check and work on perfecting trading strategies on the side.