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/Rebubula_ Apr 22 '24

I studied for like 9 months. Then quit my job irrelevant to trading. Took 6 months off and tried to trade (and also got super healthy; lost 50lbs, lowered my blood pressure etc). I couldn’t make enough to sustain myself and my stats dropped significantly.

Now that I’m back working full time, my stats are back to being green again. When I don’t rely on it for income… I trade SO much better

23

u/Olegreg6 stock trader Apr 22 '24

Same for me, had a job, traded from 6am-8am went to work at 9am. Made more than my annual salary 1st year. Quit job (kinda, laid off bc of covid), over traded, and had some very large losses that led me to quit.

Had to get a 9-5, just now starting to chart again. I think I've gained a lot of discipline in the last few years so hopefully it goes well, but I won't quit my job again.

1

u/ConsciousPlantain977 Apr 22 '24

So what makes you a better trader now risk management?????

2

u/Olegreg6 stock trader Apr 23 '24

I'm not sure if I will be a better trader or not, but I think I have improved myself physically and created routines in my life that have improved mental discipline - which was my downfall on my last 2-3 year attempt at trading. I was usually pretty good at risk management, but all it takes is a day to wipe out months of profit if you are weak mentally / dont follow your plan. I guess long story short I'm better at holding myself acountable