I’ve encountered novice traders with less than two years of experience contemplating transitioning to full-time trading after experiencing success in certain trades. Their primary motivation often revolves around the desire to retire early and attain financial freedom, particularly since they have primarily been in a bullish market and have faced minimal major setbacks.
What do you believe the path to full-time trading should entail? What should the Risk-Reward Ratio and achieved corpus be?
Looking forward to your views @t7support @Champion_Trader @thisisbanerjee @pavz @viswaram
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What an interesting point of view and an even more interesting example.
Just in case here are a few data points that I found about the deaths on Everest:no_mouth:
For a detailed articled read here: Mapped: The deadly geography of Mount Everest - Big Think
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Trading is a field where you cannot emulate another person’s path & decisions. Going full-time trading is a wonderful thing but it also brings loneliness.
The number one reason youngsters join corporates after graduation is to have a nice time with friends, get a decent paycheck, and travel. When you do full-time trading all these 3 mentioned perks are gone.
But if someone is disciplined and would prefer to go the distance, trading is the right opportunity.
I did not become a full-time trader by chance, I did by choice. I had no other way out, so I had to make it work. Feeling glad I went full-time though.
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In my opinion trading is played well if
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One has a sufficient risk capital and that capital itself or returns on it is not needed for daily maintenance or emergency care.
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One has a well tested well rounded mechanical system that one can follow day in day out within their personal or professional constraints.
It’s highly unlikely that a 2 yr experienced novice trader can claim to have any or both of the above.
Always have a primary income other than trading. Then start trading as a side hustle. Start small and first figure out whether one has the skill to be successful here along with the passion to persist in this domain. Then scale and if the corpus becomes big enough with time may be then leave the primary job and go full time trading.
The right corpus is subjective. It depends on the kind of life style one aspires for.
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True, trading can be a lonely profession. The pressure, victories, and defeats all must be managed alone.
Often, many fail to grasp the degree of discipline, patience, and determination required to succeed as a trader.
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