I was holding a full time job just few months back, there are plenty of room for career progression, promotion, increase pay, and best is that i have up to 32 vacation leave per year. My bosses like me, and wants to move me around different department and promise me the future that's upon me.
However, weighing on EBSI.
The richer ones are mainly business owner and investor.
Employee- u work for life like a dog to be honest.
Self-employed - you work you manage, you don't work u don't get money too, also depend on which category.
Business owner - very interesting, but need huge capital if you are going to franchise etc and set up a business which can fail as well.
Investor - Can start with small capital, but need wide skills and knowledge.
Investor is the most richest amongst the four.
Looking at the job side, i realize no matter how much you work hard for, one is still just a slave paid a monthly salary with a fixed bonus everyone is getting. Not really appealing to me, as i am young.
I gone through live trading, up and down, made money, breakeven and lose them to the market, restart over and over again during my time while i was working full time.
In the end, it come down to 4 main components
Psychology, Personality, Experience and emotions [PPEE]. Only by managing this 4 important factors, then only the trader can be complete and know what's he is looking for.
I went through my histories and results, and find out what' hindering my consistency and stability. It came down back to PPEE, i went on to look for high probability set up and how trade execution on price entry and exit can be re-fined. And it come down to only 1 simple factor ; money and risk management supersede everything else.
Price action and understanding of charts and candlestick is just 1 portion, only by having proper money and risk management a trader can survive in all market condition.
Since i quit, i am rolling on compounding as i can focus full time. During my work in the past, i am not focusing on both, my mind is on the work while another is on the phone - andriod meta trader. It's very distracting, i don't get to see proper charts, i don't get to follow live news and so on. I make alot of mistakes while trading and working. I am lucky enough that since my trading career i have lost almost close to none to the market.
I build up all account and only to lose all profits in the end, then i start all over again, i have completed such trips almost up to 4-5 times.
Full time trader can be quite fulfilling, no one ask you to stay at your computer 24/7. I spend most of my time catching up with my friends, playing online game and etc. And only spend some hours during period where i know high probability can be executed.
I am not bragging, my account may not be big, but it's paying better than my full time job now. My account is on a consistent 2% growth daily sometimes more and sometimes less by abit. I banked about 80-150 pips daily. And i get to close most of my trades before london closing unless those bigger range trades.
And i learn 1 simple thing, don't ever trust fundamental or news because by the time they arrived they are late, in fact i don't read news, i only look at market dept and price action, along with stoch that's all.
The biggest hurdle is that sometimes market is slow or flat, and you may not have a set up. If you don't then don't enter, its better not to risk than to risk, only high probabilities trades work best. Another would be holding trades in negative, knowing how to deal with it and trusting your own analysis and always remember not to be influenced by the market as soon as you feel fear and panic, the more chances you will make mistakes.
Now i trade almost without emotions because all these money are disposable, and i am trading with profits.
A healthy trading ethics is essential, proper sleep, eating, exercise, staying happy, good relationship with loved ones and friends. And i also keep on attending seminars and workshop to learn more as well. And staying neutral at all market times.
anyway, last thing is that you should have a saving that can last you at least 6month - 1 year. if you are the sole bread winner, than think twice
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