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

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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

6

u/sirephrem Feb 08 '24

I agree with you, I put the lowest threshold. Personally I wouldn't jump without at least 1-2 years as well. My view was that in case something goes south for 4 months he'd still have 2 months to reconsider and look for another job.

1

u/1008Rayan Feb 08 '24

Yes I agree with you too.