Day trading while having a full time job

[Benjamin Tang 4]

Hi BBT,

For those who made the transition to become a full time day trader while having a full time job:

How did you do it?
* What sacrifices did you made?
* What habits did you learned?
* What did you changed?
* What advice, tips, tricks, strategies etc do you have?

Would love to learn from you

Kind regards

Benjamin

 

Edited May 22, 2020 by Benjamin Tang

[Brendon 146]

Hi Benjamin, 

You can watch my Talk with Traders where I go over a few points on that very topic.

But to answer your bullet points:

The sacrifices are a few, most noticeably how taxing this is on your body mentally and physically. It isn't particularly enjoyful working 2 jobs back to back, no matter what they are. The same can be said for those who go to school and work (Aiman), there is little difference. But trading can be a little more stressful because money is involved. 

Habits would be getting used to taking losses, and then more losses. Everyone knows how to win, that's easy, you close your position in the money. But closing at a loss, unless you get used to doing that as a habit (not too often let's hope), you will let them outrun your wins. 

I changed from wanting to make a lot of money to being humble and making what is realistic for your account size and risk tolerance. So maybe a couple hundred a day instead of a few thousand. It's not a get rich scheme, more of a side hustle to put your money to work what will get you better than market return. 

Tips and tricks - don't try to mirror after one trader! You will notice in our chat that each BBT trader trades differently, and vastly differently from feeling the price action at the moment like Andrew (his actions per minute rival Starcraft gamers) or to really deep dive in the L2 like Thor..and he dives very deep to find those levels (his L2 can consume his whole screen). Find what is the better fit for you, if you are short biased with your trades talk to Peter. Find your nitch, and that could take a year or more. 

 

 

[Benjamin Tang 4]

Wow that is awesome. Im going to listen to your podcast this weekend 🙂

[Romell Roberts 7]

DAS has a stock replay mode where you can load up a stock and trade it. It doesn't have level 2 but I find it useful for training after work or on weekends.