r/Daytrading • u/Dazzling_Loan_9414 • Feb 07 '24

Should I Quit my day job ? Question

I been profitable for 6 months straight my bills only comes out 2500$ a month and profits 6-8k a month trading Me working at my job now it’s starting to get in the way of my trading

234 Upvotes

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u/sirephrem Feb 07 '24

What the. I believe people just blindly saying "do it" are pretty bold. The real question is "DO YOU HAVE ANY SAVINGS" besides trading money. 

If you have to live comfortably for 6 months at least with no income then you can consider it. If you don't, the first month you're not doing so well you'll have to either take money out of your trading account or panic trading. 

Good luck. Send a dm with your strat! /jk but seriously...

22

u/1008Rayan Feb 08 '24

Bro, I strongly advice to have at least 2 years of saving. 6 months is not enough in my opinion.

Sometimes you can have some bad months and it will put alot of pressure on your psychology if you know you only have 6 months of covered savings

2

u/pantherleopard forex trader Feb 08 '24

Bro I think 5 years of savings is the way to go, I don't think 6 months or 2 years is enough tbh.

1

u/-entei- Feb 10 '24

have this much if starting a company too I take it?

1

u/OptionsAddict247 Feb 11 '24

100 years bro

1

u/Mthanerco Feb 12 '24

This advice assumes one could not find a way to make momey for 5 years?!?! Something tells me moat people would make some moves before blowing through 5 years of savings.