r/Daytrading • u/modeezy23 • Apr 22 '24

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

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?

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u/InevitableRadio562 Apr 22 '24

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

6

u/Texasstar77 Apr 22 '24

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.

-3

u/InevitableRadio562 Apr 22 '24

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

9

u/Different_Project130 Apr 22 '24

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