[Soultrader]

Some very good points there Pipmonster. Trading is a complete mental game and one needs to be in the right mindset everyday. It's hard for new traders to grasp this mindset.

I want to share my style of making it in this business. Its a style I have picked up from poker which I spent several years living of it as a sole income. Trading and poker... is a grind. All that "Pit Bull" cowboy type stories are just entertainment to me. Each day I grind my way to make an income. I don't try to aim at homeruns or winning the WSOP. I care less.... all I care about is taking money on a consistent basis. It's worked for me my entire trading and poker career. I'm in it for the long haul.... and I dont want any one hand to take me of this game.

[pipMonster]

Consistantcy is the key which is where the mental toughness comes in.

It's interesting how lots of folks, especially new traders think trading currencies is the easy way to riches. It's hard work. Everyday.

I was just reading an article this past weekend about making a record with John Lennon called 'Mind Games'. The gist of what I'm trying to relate is the sound engineer thought it was going to be 'easy' work with one of the creative forces from the Beatles. Lennon will just show up with a bunch of songs ready to go. What he found out was that Lennon, and others like him, work really hard on getting a song as good as they can make it. Take after take.

Trading is like that. It's hard work, but it can be very rewarding.

[drk1t]

I don't know about the UK, but in the USA there are different tax rules to consider. A lot different. Basically it must be a full time occupation to change to trader status. For those in the USA Introduction to Trader Status

[Reaver]

I look forward to the day I can rationally take trading on full time, although I know it will be a while. I am with TinGull, My fiance works full time as do I, and we are slowly but surely cutting my hours to alow more time for me to trade.. It's funny, it's kind of a scale in/out strategy, each promotion she gets, we cut my hours back a little since we are earning more income and afford it....it's working quite nicely so far.

Originally Posted by JayRemy »

Hi Guys,

How do I know if I can make trading my full time job?

Cheers Guys

Hi JayRemy,

If you treat it like a business, it'll reward you like one. Treat it like a hobby, and you'll be compensated accordingly.

So the answer is YES. But only if you're willing to put in the hard work to make it so.

Good luck.

[darthtrader]

i think you would be nuts to try to live off trading after a few months. Ive read everything i could get my hands on for the past 2 years. Hell, 2 days ago the videos on this site blew my mind even with that background. My goal is full time trader 7-10 years from now and i have actually done really well trading real money these 2 years. Anything less than that is poor risk mangement for me. The biggest thing ive learned in those 2 years was that there are some things you can't possibly learn without seeing it on the chart/tape and its those things that kill you.

[brownsfan019]

Some people thrive on pressure, others don't. Only you know if you can make it work now or later. Personally, I thrive when it's crunch time. Don't know why, just how my genetics are I suppose.

[Reaver]

Originally Posted by brownsfan019 »

Some people thrive on pressure, others don't. Only you know if you can make it work now or later. Personally, I thrive when it's crunch time. Don't know why, just how my genetics are I suppose.

I'm with ya Brownsfan. I am too lazy otherwise. It's like in the military- we trained and did what we had to do to be sharp..but we were always trying to be as easy as possibly because we knew for damn sure we'd be stressed out and working hard soon enough.

I guess in the civilian world it's the same...hard to really motivate yourself when you know you don't have to...but when pressure hits-you know you have to get in gear, and it's like a call out.