I have been working at a mid tier company 8 YOE, TC $200k. (Not on what it shows in my profile). But also it’s a chill place and need to focus 3 hours per day to finish my daily tasks (I am very efficient when I focus). The rest time I am working but also trading stocks on the side. Very high win rate. This year I am up close to $200k trading part time. Also made about $600k during the crypto craze 2017-2018. All part time in between work. Ofcourse I spend hours everyday after work reading all about stocks. It’s my passion too. So I am at a point where I feel like I should do it full time. I am a member in tradenet and stocklock where I see people make a million or more a year trading stocks (we talk and I feel like I have all the skill and emotional intelligence/ awareness) to go big. But I am scared to quite my job and do it full time. Should I cruise the current pace and do it part time or try it full time? Anyone who has similar experience? So many pros and cons. Will discuss it later. #investments #personalfinance #tech
Stocks only go up!
Yes but my trading style is speculative and purely based on daily technical charts.
so gambling. You want to go fulltime into gambling with the stock market.
When your full time job becomes your part time job, that’s awesome lol
Thou my classmate who went to amazon make double my TC now. 😂 I had the same skill set but went to space industry. Thought it’s cool. 🤦🏽♂️
I mean... it is cool! If money were no object I’d be back in the space industry too.
Can you take it when you would loose 200k in a year? If yes, then go for it. If not, then don’t
Everybody makes money when all you need to do is buy calls.
No, I trade options here and there but most of my gain is from day trading, purely based in technicals. Also I am profitable consistently for the past 5 out of the 7 years I was trading. If you know tradenet’s Mier or stocklock exact same style of trading.
My personal advice is unless you have risk management in place don’t do full-time trading. Profitable 5 years in a row doesn’t prove anything as one finance crisis can wipe out everything you have.
Keep it for 401k, health insurance and keeping piling up yoe. If your work is so chill, it's totally fine to diversify your income (risk in trading, safe in employment). You can also try to find a company with better wlb
agree with the first 2 part of this, but where else are you going to find a job with better wlb than 3 hours of focused work / day????
Anyone could make money this year. market is up 15% even with covid.
If you read my comments I wasn’t just profitable this year. You are correct anyone can make money this year with the predictable trend.
One can also make money on a market down event.
Don't do it. Unless you are happy with moderare risk and playing it safe. Technical chart analysis does not work. Plus if you day trade, you will lose on fees and taxes since most of what you will sell will be short term gains. And if your current employment has health insurance etc. you will have to pay for it yourself.
That’s why I have been hesitant. But sometimes you take risks to see how far you can go than stay stagnant... but yes your perspective is what prompt me to post this to see...
Technical analysis does work. It does not work 100% of the time but it does. Also if one uses risk management techniques like stop losses it is a very practical way of grinding out money. One word of advice for OP though . Stay away from margin
Take a sabbatical or extended leave if you have been at your current company for a while. This way if things doesn't work out you can come back to same job.
I have been in the current position for about 3 years but I build a good reputation to ask them a sabbatical. Thanks for the suggestion.
Move to puerto rico! No income tax
Uh, you mean federal income tax? Yeah, but there’s a “Puerto Rico” tax. Basically its 8grand up to 60k then 33% for 61-whatever.
Just do it. You can always go back to corp.
That’s the thing. My current position pays ok and not stressing at all. Which afforded me to be able to trade daily. Quoting and starting new job I may not have the same time to trade while working. But not trying it will kill me, regrets! So most probably I will quite and try it full time atleast for a full year.
As mentioned above, just do it. You’ll be able to hone your skills and then after you’ve made your daily base hits in trading, you can use the additional time for other passions. Corp life will always be there.