Seeking Tips from Full-Time Traders for Turning Pro

#1

So my goal is to trade full-time. But how do you know when it’s time to make that move? To finally quit your job and take a chance on yourself? I understand it’s different for everyone, so I would like to hear some of the stories of those who made the leap, if you care to share. :smiley: What were factors in your decision? Did you have a lot of money saved before making the move? Was it more necessity of circumstances vs. choice? Looking in hindsight, what would you recommend to an aspiring pro like me? How long did it take between when you first got started and going pro?

Any questions or insight you would like to provide would be great!

Thanks!

#2

You need to have at least 6 months (ideally more) of savings to cover all your expenses (not including trading capital). So your not trading with the rent month.

You need to be profitable trading

Your trading account and profits need to be sufficient to cover a months of living expenses and ideally more.

The amount of time and amount saved up can completely vary. I have seen traders do it in a couple months many much longer to go from a full time job to full time trader (note full time does not mean you trade full time it simply means you make a full time income trading). Many traders only trader for a couple hours a day. Just depends on your schedule, markets available, best strategies at that time, account size, and the markets your trading.