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  1. #1
    Veteran Member Ammeo's Avatar

    Trading vs Day Job !!!

    For those who are doing both, which one is more profitable for u?
    im doing both and for me currently its my day job making me more money than trading..
    i hope this will reverse one day..

  2. #2
    Active Member pipshunter's Avatar
    Hi, Ammeo. I think for anybody will be difficult to achieve that level when trading alone will generate more profits than the day job, but for sure there are such people and I know several of them personally. The common for all of them is that they have big capital in their accounts and very strict money management. Some of them trade their personal money, but most of them are money managers and trade other people’s accounts so their risk is limited and profit is not limited, but there are a lot of steps to achieve before you reach that level.

  3. #3
    Veteran Member uj.forex's Avatar
    What if I say that I quit my day job for Trading ??

  4. #4
    M.J
    M.J is offline
    Veteran Member M.J's Avatar
    Quote Originally Posted by Ammeo View Post
    For those who are doing both, which one is more profitable for u?
    im doing both and for me currently its my day job making me more money than trading..
    i hope this will reverse one day..
    hehehe.
    Another version of this question has already been asked which was about full time trader or part time. But even if u want to compare earnings from both sources, compare earnings per hour. For example if u give 8 hours to ur day job and 2 hours to trading then without weighted average, it will not be fair comparison.

  5. #5
    Master Member vinayakm's Avatar
    Quote Originally Posted by M.J View Post
    hehehe.
    Another version of this question has already been asked which was about full time trader or part time. But even if u want to compare earnings from both sources, compare earnings per hour. For example if u give 8 hours to ur day job and 2 hours to trading then without weighted average, it will not be fair comparison.
    The good thing for me is that trading is my 'day job'. I mean I work in investment research at a brokerage on the sell side. This really gives me the edge when I get down to doing some personal trading after a long day at work.

  6. #6
    Legendry Member Michael Hodges's Avatar
    anyone can turn into a professional trader, it just takes time. Utilize your money management tools until your account grows to a size that you can withdraw enough on a monthly basis to cover your expenses. small trades add up over time and accounts do grow. One estimation I have read says to wait until your account is $100,000 before quitting your day job but i think with binaries that sum can be lowered. You just want to be sure that your average monthly profits are AT LEAST equal to your monthly expenses plus a spending allowance. Also, if your strategy is really working well you could start a blog and generate revenue from your trading that way as well.

  7. #7
    Legendry Member Michael Hodges's Avatar
    Quote Originally Posted by uj.forex View Post
    What if I say that I quit my day job for Trading ??
    I say hell yes!

  8. #8
    Veteran Member Ammeo's Avatar
    Quote Originally Posted by uj.forex View Post
    What if I say that I quit my day job for Trading ??
    And did it work out for u?

  9. #9
    Rookie Member
    Quiting your job for trading is good but you will require some money before quiting like michael said to make up for expenses,all in all, trading tops the least in terms of earning money but requires sufficient knowledge,ample time and money management.

  10. #10
    Legendry Member willyw's Avatar
    Quote Originally Posted by Michael Hodges View Post
    anyone can turn into a professional trader, it just takes time. Utilize your money management tools until your account grows to a size that you can withdraw enough on a monthly basis to cover your expenses. small trades add up over time and accounts do grow. One estimation I have read says to wait until your account is $100,000 before quitting your day job but i think with binaries that sum can be lowered. You just want to be sure that your average monthly profits are AT LEAST equal to your monthly expenses plus a spending allowance. Also, if your strategy is really working well you could start a blog and generate revenue from your trading that way as well.
    Nowadays turning into a full time trader or a professional trader is not easy. During my days is very easy, you have the qualifications you can apply for a trader post in the brokerage company. But now they are very few brokerage companies that want to employ. If there is one you can try. If you want to be an individual fulltime trader build up your margin to reasonable or comfortable size before quiting our job.Most of the traders now only being expose to online brokers to trade in forex but not expose to other areas to trade. Like Michea says, wait till your account build up to $100,000 then turn full time. From my experience is you have $100,000 why trade thru a broker, they will and they might job your pips when you execute trades. You can easily open a forex account with any banks in your area and you can negotiate terms, like smaller spreads and also pips rebate. I have been trading forex through banks. For brokers, i dont think so you can negotiate terms

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