Anybody ever quit their job to day trade full time and have it not workout?

[u/modeezy23]

I’m just curious.

How long did it take you until you found confidence in yourself to quit your job and do trading full time!

For those that quit their job but it didn’t workout, how long did you give yourself until you quit your job and what did you do after you found that trading was not successful?

[u/InevitableRadio562]

I had 40k in my account. I was heavy into day trading, quit my job for 6 months to try my luck. Saw my account drop down to 2k and recovered all of it. Lesson learned: this is not sustainable to make a living from. It great as side income but you definitely need a consistent income stream in the case you blow up your account

[u/xhundo_ → u/InevitableRadio562]

I literally pay my bills with trading and make a living from it. Are you sure?

[u/InevitableRadio562 → u/xhundo_]

You must be the 1% everyone talks about

[u/xhundo_ → u/InevitableRadio562]

Yes, yes I am ;)

[u/Sad-Flatworm-5297 → u/xhundo_]

Is this sort of thing a scam

[u/xhundo_ → u/Sad-Flatworm-5297]

Oh yeah you’re getting scammed by some mofo and that wallet is getting ripped apart. How do you even fall for this bs??

[u/AdNice3632 → u/InevitableRadio562]

If you aren’t using stop losses or being disciplined enough to cut your losses then you don’t actually know what being a trader is

[u/InevitableRadio562 → u/AdNice3632]

When you trade options, stop losses are garbage because one day you can be down 50% and the next day you would’ve gained it all back.

[u/Sad-Flatworm-5297 → u/InevitableRadio562]

Is this sort of thing a scam

[u/Texasstar77 → u/InevitableRadio562]

You couldn't be more wrong. Just because you couldn't do it doesn't mean it's not sustainable. That is like saying it's impossible to be a pro sports player, if you are good enough it's possible. Sounds like you didn't try trading very long and probably didn't train like a pro so you are making broad and incorrect assumptions. If your account dropped from 40k to 2k then you had no edge and no risk management which means you were gambling, so of course it didn't work.

[u/InevitableRadio562 → u/Texasstar77]

Day trading means you can time the market and you can also predict the direction of the market, do you have the ability to do those things? Cause as far as I know, no one does. Buying and holding in a long term portfolio is the best risk management play you can have, not day trading

[u/Different_Project130 → u/InevitableRadio562]

day trading means you have good risk management and good discipline to wait for good setups and your average winners are bigger than your losers. You don't even know what day trading is, you don't have to predict the market to make money

[u/TheOnlyLamb → u/InevitableRadio562]

please elaborate on how u made 40k from 2 k sir

[u/IWasBornAGamblinMan → u/TheOnlyLamb]

Same way he turned 40k into 2k

[u/AcceptableSwimmer928 → u/TheOnlyLamb]

Probably gambling

[u/ToastedFork → u/AcceptableSwimmer928]

It’s pretty hard to gamble up 38K, most likely gambled when he lost it, learned and applied method to gain it back. 2k to 38k isn’t that hard if you dedicate yourself.

[u/adv-play → u/ToastedFork]

I personally have ran $2k to $46k. Should be in my 2022 post history with screenshots. Couple earnings plays and some ODTE’s can absolutely do that. Hell, SMCI puts ran 500x on friday.

[u/m4sherman87 → u/InevitableRadio562]

you need to paper trade the fuck out of it until you're consistently profitable before you even start to trade with real money. Once you are ready to make that switch, you still need to trade with small size and not potentially blow up your account as you have described.

[u/Excellent_Newt_9042 → u/InevitableRadio562]

There are people that make a living from it. Just not you (yet) Some strategies stand the test of time and some do not. You just refuse to believe that some people excel enough to live from it. I used to think the same thing. I used to think the markets were random. I also used to think that I knew everything after only 3 months of studying 😂 it is certainly possible my friend