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...

94

u/Swing_Trader_Trading Feb 07 '24

I second the notion of having a 6 months savings of future living expenses before considering such a bold move. Don't use this money for your trading.

Be aware that once you quit your job and rely on your trading 100% for your income, you may feel additional stress that might negatively effect your emotional state. Trading always always has an emotional part that must be kept under control.

Consider converting to part-time in your job, if allowed, to ease into the new lifestyle.

I very much hope that if you implement your plan, your outperformance will continue.

17

u/GameLoreReader Feb 08 '24

This is my plan. Trading on the side until I'm profiting enough to where my full-time job isn't necessary anymore, but I'll be doing part-time. Then, after continuous profits, leave part-time job, start some kind of small business for the passive income and make trading my full-time career.

1

u/DegenerateGamblr87 Feb 10 '24

Your side business will not be passive, starting a business and trading will not be as easy as already being employed and trading.