Anyone game enough to trade full-time?
Well, after one year trading as a local, what I get in return are more white hairs & less beauty sleep ;)
Just a word of caution to those who intend to trade full-time. While on surface, it seems like you will have a lot of time freedoom and flexibility, in reality, not necessary the case. I hate holidays. Because the markets that I trade would be closed for holidays, that means, I cannot trade that day or even for a few days, that implies, no opportunity to make money. Just like any business owners, they wont dare to think about taking leave, not until their business picks up. Hence, t o trade full-time, one must be prepared to work extremely hard..... more hardworking than being employed.
Next, you need to ensure you can survive for at least one full year (12 months) without a stable income. So, if your mininum monthly expenses a month is S$2K, then you need to set aside S$24K per year. This excludes your trading capital, which is typically S$30K miminum. Of course, it would be ideal to have a further spare cash that can strech you for two years as it is quite diffcult to make good money during the first year.
Hence, if you have less than S$50K to start off, it can be very strenuous. If you plan to trade full-time, start saving now and mointor the market closely. Attend free-preview of those trading gurus to get some ideas what trading is all about. The preview is also a good networking place to mingle with experienced tradres. Talk to friends who are trading full-time to understand the 'dark-side' about trading or you can write to me.
Just a word of caution to those who intend to trade full-time. While on surface, it seems like you will have a lot of time freedoom and flexibility, in reality, not necessary the case. I hate holidays. Because the markets that I trade would be closed for holidays, that means, I cannot trade that day or even for a few days, that implies, no opportunity to make money. Just like any business owners, they wont dare to think about taking leave, not until their business picks up. Hence, t o trade full-time, one must be prepared to work extremely hard..... more hardworking than being employed.
Next, you need to ensure you can survive for at least one full year (12 months) without a stable income. So, if your mininum monthly expenses a month is S$2K, then you need to set aside S$24K per year. This excludes your trading capital, which is typically S$30K miminum. Of course, it would be ideal to have a further spare cash that can strech you for two years as it is quite diffcult to make good money during the first year.
Hence, if you have less than S$50K to start off, it can be very strenuous. If you plan to trade full-time, start saving now and mointor the market closely. Attend free-preview of those trading gurus to get some ideas what trading is all about. The preview is also a good networking place to mingle with experienced tradres. Talk to friends who are trading full-time to understand the 'dark-side' about trading or you can write to me.
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