Quitting a job to trade forex full time

[K_Robdog]

I didn't quit, but I got laid off due to covid-19, so I have been relying on trading to make a living, whereas previously it had been a little side income. I've stepped up my game and so far, so good

 

[Albert Dcosta]

I don't know why people want to quit full time job so early. That should be the option when you are making 10 times more money on monthly basis from trading alone. Then you can quit job to make even more money and products of your forex skills.

 

[fxoday]

Quit from a job for forex is risky decision, forex trading is uncertainty, today maybe we can make a good trading profit, but not sure for tomorrow maybe we get lost in trading, better treat as part-time and get another source o earning

 

[Rick Beesley]

Don't quit your job until you earn TWICE as you earn now. Very risky to just quit your job, because ... you can lose everything.

 

[fxoday]

Don't quit your job until you earn TWICE as you earn now. Very risky to just quit your job, because ... you can lose everything.

Fores is risky, will safe if treat as part-time and still have another source income, but if likely enforced by condition, might due pandemic and become unemployment, hence trade forex needs to do seriously and carefully, full discipline ,

 

[pezz55]

But this has to be the goal and trying to find the right time will always be hard. you need to be prepared for the first year not to pull any profits from your trading and build on your platform

 

[Qsigma]

Trading is so relative. Trading can be a survival plan for someone while it can be a investor plan for another one. Let me explain. Financial Market trading is one of best way to multiply money. This is the most essential step of being wealthy. Because the money that earn should multiply.For some one this Financial market can be a survival plan. Means he/she will not multiply but gain what he wants every month. Usually i do this both. I have a survival account that support my living. i just try to reach consist with some percentage every month and i withdraw 75% - 80% from it. And also there is another account that i never withdraw. i am compounding it for years but slowly. that is my investor plan. It is practically easy to multiply several times ( practically capable of multiplying 6 times of your capital : depend on many variables) of your capital within 5 years. It is a good investor goal. Most investors try to reach.So this is how i trade full time. I believe if you are willing or if you are a full time trader you need short term goals as well as long term goals. In this all games it is better to have a good amount of money and it is better if you can create some other income sources too.

Extra Notes -------

Survival Plan:-

Assume that your monthly living cost you around 1000 usd. If you have a 1000 usd capital it is about 100% each month to make. It is so unrealistic. If you have a 5000 usd account it is about 20% each month. To do every moth it is hard. If your capital is 10000 usd it is about 10%/ If capital is 20000 usd it is about 5%. You can see when capital increases it getting easier to gain it. so never ever try to make 100% try to make 5% but with consist. Consist is the most important. So try not increase percentage but try to increase capital and lower the percentage. It will make you easier to become a full time trader with less stress.

Investor Plan :-

Try to reach rewards with lowest risks. that is most important when you compounding, the low risk. Then you can safe your capital. With time it will multiply.again try to make with lowest risks. it will let you to play long term. For investor plan.

 

[MCPower]

Hi guys,
Quite new to this forum and to Forex in general, but I got tot ask - Did any of you actually meet a person that lives of Forex trading ?
To me, this sounds like a legend sold to us by the brokers. I can't imagine anyone actually being able to produce a steady income, unless they come up front with a nice security package, to carry them through the failures. The only other option is to be really luck at the beginning, so you create your own security.
The entire "Day Trader" idea seems like movies material to me and I don't buy that anyone actually managed to pull this off and get a steady salary replacement.

 

[Granigamand]

Trading is so relative. Trading can be a survival plan for someone while it can be a investor plan for another one. Let me explain. Financial Market trading is one of best way to multiply money. This is the most essential step of being wealthy. Because the money that earn should multiply.For some one this Financial market can be a survival plan. Means he/she will not multiply but gain what he wants every month. Usually i do this both. I have a survival account that support my living. i just try to reach consist with some percentage every month and i withdraw 75% - 80% from it. And also there is another account that i never withdraw. i am compounding it for years but slowly. that is my investor plan. It is practically easy to multiply several times ( practically capable of multiplying 6 times of your capital : depend on many variables) of your capital within 5 years. It is a good investor goal. Most investors try to reach.So this is how i trade full time. I believe if you are willing or if you are a full time trader you need short term goals as well as long term goals. In this all games it is better to have a good amount of money and it is better if you can create some other income sources too.

Extra Notes -------

Survival Plan:-

Assume that your monthly living cost you around 1000 usd. If you have a 1000 usd capital it is about 100% each month to make. It is so unrealistic. If you have a 5000 usd account it is about 20% each month. To do every moth it is hard. If your capital is 10000 usd it is about 10%/ If capital is 20000 usd it is about 5%. You can see when capital increases it getting easier to gain it. so never ever try to make 100% try to make 5% but with consist. Consist is the most important. So try not increase percentage but try to increase capital and lower the percentage. It will make you easier to become a full time trader with less stress.

Investor Plan :-

Try to reach rewards with lowest risks. that is most important when you compounding, the low risk. Then you can safe your capital. With time it will multiply.again try to make with lowest risks. it will let you to play long term. For investor plan.

How many cases have you heard about? I mean real people who quit their full time job for spent all their time to trading. And of course who didn't lose a lot income wherein. And if you have heard about these cases, what time it had been taken for them to reach their goals?

 

[RachelEB]

Is there anyone of you who has had a full time job that they have quit in order to trade full time? Luckily I have a job that lets me monitor my trading accounts while Im at work, but there have been many a time that i have either missed out on a great trade or royally screwed up because I got distracted at work. While Im doing "ok" trading the way I am now, Ive always felt that i could do much much better if I traded full time and could focus on the market with no distractions. Id be interested to hear who had quit a job to trade full time and is really doing well at it.

Long term aim is to quit my job, but this will be determined by a good account size that can handle any down turns!