I’m quitting my day job!

[MadsFromDenmark 10]

....now I got you attention, I’m really need some help here! 

For some months now, I really have the feeling for quit my day job, to become (life time) trader, or day trader, my problem is, that I live in Denmark, so when I’m working, 07:30- to 16, every day, i miss those 1½ hours open every day..)

 

And the markets open in 15:30 dk time, for the USA stocks... 

 

• So when I’m going home, I fell that I don’t have (time) to do my (watch list) and sets (support and resistance) lines, but need to rush into my scanners and see for some good trades to take.... 

 

I did ask my boss for some weeks ago, about to get 1 holiday, every week, so I could do my watch list, and do the work before the market opens.. 

But no way, I could do that, and he said, I need to think about what I would do with my life.. 

 

.... right now, I’m got some questions, and can’t find the answers for what I need to do, so please let me hear you meaning. 

 

-should I get another job, so I can be at the computer, when the market opens? 

-ask him for, maybe 2 hours before (free)

-find a job, that offers 3 days work, so I can be day trading for 2 days? 

-just keep working, and day trade when, I’m coming home? 

 

 

I feel, that it have come so close to me, because I know the market opens there, and I’m  not THERE. It’s really ignored me every day, and my girlfriend, begin to feel it to.. 

 

Disclaimer: 

I’m still in slim, and studying this for about 8 months now, and finally I’m feeling ready to try (slim out) and joining the (bear bull trader team) 

 

I know, it’s sound weird, that it’s in (paper money) but I want to have the psychology aspects in, and set my strategy +risk management+money management, before was going into it. So the only deferent was, (paper money)... 

 

I’m also know, it’s weird, that i will quit my 2 days off work, and then going into slim, but the money is not a problem for me, and can live with 3 days of work right now without going broke, + it’s will not be hard to lived for those 3 days work pay off. 

 

I’m just really want to do this, or make some steps closer to become a day trader... 

 

3 working days..?

2 day trade to practice.?

 

 

I hope someone have a (guideline) to what I should do... 

 

Thanks for you time!

Mads From Denmark. 

[PeterD 49]

Mads, first please, please DO NOT quit your job. They say that you should never trade with 'scared' money. Trust me when I say that if you quit your job, ALL of your money will become scared and it will negatively affect your trading. (and I truly know because I've traded without another job for over a year.)

Second, there are innumerable ways to trade. We have many traders in the room who do not trade the open at all and they do very well. Myself, I do trade the open, but I actually make more money after 11am than I do at the open. Only trading the afternoons is an option for you. There is no question it is slower, but there are ALWAYS opportunities and if you practice and train yourself to be an expert in taking advantage of them, you could become very successful. Alternatively, 

My best recommendation is that you spend some time considering how you can incorporate trading into your current lifestyle without sacrificing your job or your relationship, because to sacrifice either will put more pressure on you and adversely affect your ability to trade successfully. Whether you only trade 1 or days a week, become an afternoon specialist, an afternoon scalper, a swing trader, a mid-term investor, or whatever, there are many styles you could adopt into your current life.

[nassarsyed 82]

I concur with @Peter D DO NOT quit your day job as you do not have the required experience right now.

There are several folks who trade throughout the day and do well - you need to find trades which work like Trends, breakouts etc. probably all day holds.

So when you say you want to quit your job for trading, you are really saying trading the Open.

Best of luck mate!

[Ville 8]

Hey Mads, 

I'm still on sim so i don't have a advise for live trading but few suggestion about time management.

I live in Finland(1 hour difference to Denmark) and market opens for me 16:30. What i do is that i go to work 6:30 and leave usually 15:30 and it takes 30minutes to get home. So is there any chance that you can start earlier?

Other thing what i do is that i trade from 21-22:30 (14:00 - 15:30 New York time). I have actually found out that it is good time to trade for me. It also gives you more flexibility to your other parts of life.

-Ville

[MadsFromDenmark 10]

On 9/27/2018 at 9:48 PM, Peter D said:

Mads, first please, please DO NOT quit your job. They say that you should never trade with 'scared' money. Trust me when I say that if you quit your job, ALL of your money will become scared and it will negatively affect your trading. (and I truly know because I've traded without another job for over a year.)

Second, there are innumerable ways to trade. We have many traders in the room who do not trade the open at all and they do very well. Myself, I do trade the open, but I actually make more money after 11am than I do at the open. Only trading the afternoons is an option for you. There is no question it is slower, but there are ALWAYS opportunities and if you practice and train yourself to be an expert in taking advantage of them, you could become very successful. Alternatively, 

My best recommendation is that you spend some time considering how you can incorporate trading into your current lifestyle without sacrificing your job or your relationship, because to sacrifice either will put more pressure on you and adversely affect your ability to trade successfully. Whether you only trade 1 or days a week, become an afternoon specialist, an afternoon scalper, a swing trader, a mid-term investor, or whatever, there are many styles you could adopt into your current life.

Thank you sir.

You definitely got that right, it will be a (scared money).. and will definitely affect my trading! 

 

Yeah, I’ve just hate those messing trade in the (opening)

And really want to trade all time, and lived for this one day. 

 

I will slow down, and find my way to it! Thanks for the help Peter!

[MadsFromDenmark 10]

On 9/28/2018 at 1:26 AM, nassarsyed said:

I concur with @Peter D DO NOT quit your day job as you do not have the required experience right now.

There are several folks who trade throughout the day and do well - you need to find trades which work like Trends, breakouts etc. probably all day holds.

So when you say you want to quit your job for trading, you are really saying trading the Open.

Best of luck mate!

Thank you mate! Will do a strategy that will work thanks Again!

On 9/28/2018 at 11:35 AM, Ville said:

Hey Mads, 

I'm still on sim so i don't have a advise for live trading but few suggestion about time management.

I live in Finland(1 hour difference to Denmark) and market opens for me 16:30. What i do is that i go to work 6:30 and leave usually 15:30 and it takes 30minutes to get home. So is there any chance that you can start earlier?

Other thing what i do is that i trade from 21-22:30 (14:00 - 15:30 New York time). I have actually found out that it is good time to trade for me. It also gives you more flexibility to your other parts of life.

-Ville

thanks! You got that right. 
Will make a way to it. Thanks!