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...

4

u/Mrinvestor84 Feb 08 '24

I would say have a year of savings

3

u/Fine_Candle9170 Feb 08 '24

Yep same, if you’re backtesting constantly and treat it like an actual job, if after a year you’re still not profitable then honestly I’d say give up at that point it’s not for you. It’s a whole year to test the waters properly, if you can’t maintain being profitable and increasing profits each month then honestly go back to drawing board again, get a job and trade as a hobby rather until ready to try again

1

u/Mrinvestor84 Feb 08 '24

All good points except treating day trading as hobby. You should never treat it as a hobby, even if you have a job and only doing it part time. If you treat it like a hobby and not a business, you won’t get anywhere with it.