Building a Trading Career Without Burning the Bridge. (If you had to do it again.)
Hi Pat,
I’m in need a bit of advice, I’m having a crisis of confidence!!………. I have been with MW a few years now, it’s been great but from the start I knew I didn’t have an account big enough for the share prices that are generally considered on the key list.
The ambition is to walk away from the day job here in the UK and be self-sufficient in the markets. I have managed to raise around 100k for the account and my comfortable living expenses are around 25% of the account. I know I need to carry on working BUT this is where the issues of SEAT time come in.
I am UK based the Market opens at 2:30pm, this is right in the middle of the chaos of the working day, this massively affects the seat time and the mood if I’m honest. I try my best to watch all the key lists and join the calls but I’m mentally comprised if that makes sense because I’ve already been sitting at my laptop for 7 hours!!
I’ve tried all sorts using buy stops, but I find they trigger and just get caught out with the failed breakout and all this does is mess with confidence. I know I can’t do this with an account of 100k, its just going to be a complete failure and all the hard work to get to this point will be lost.
I know this will not be unique to just me as I’m assuming most people would be in a similar situation of combining the two.
My Question is:
If you had a similar situation again, a job that has no relevance to the markets, what would you do with the problem of seat time?
- Try and make both jobs work?
- Quit the day job and fully focus on this until the money runs out?
- Keep with the day job until I have a comfortable amount?
Just want to stress im not asking what I should do, as personal circumstances are not always ideal. I like advice from people that have lived it and know the good and the bad. Feel like I’m at a point where it could be really great I just need to make few changes or make sacrifices.
Regards
Michael
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