Is it time to go full time?

[sweetybt]

Good luck, if you want somebody to mess up your plans for financial independance you have my number

I can honestly say that leaving my last 'normal' job was the best thing I ever did. But at the time it was a real step into the unknown. But opportunties just started to appear around each corner once I had started.

Thanks Peter,
Were you at ISE or what ever it was called on Wednesday as well? I told a friend to go and say hello. He works for one of the big lottery operaters and told me that a lot of the bookmakers who were previously operating in countries without licences are pulling out now with the hope of being given official licences in the near future. This is hopeful news for those in countries where betfair or betdaq have closed shop.

[sweetybt]

Good luck

It might help that you have kids around. I know Peter manages his time between work and family with expertise. It's the area I've struggled with most over the 5 years of being self-employed. I have no kids, and wasn't in a stable relationship when I started. Trading has led to me becoming quite isolated socially, something I regret

It is never possible to manage kids expectations of a father and trading opportunities which arise. I tend to go on holidays where it is impossible to trade so that I am Dad for 100% of the day.

[sweetybt]

I think it depends on the package you will get and a number of other things obviously; but I would do the same given half the chance!
The thing is; when you want redundancy, you cant get it!

I agree, but for once I want redundancy and please God they will give it to me. Package is ok and her in doors has given the green light.

[steven1976]

Sweetybt, do you make money already consistantly from the markets, if not do you have an edge to make money in the future? What are your expectations and time frrame. Make sure you have an edge and profitable or the pressure will build id imagine in 6, 12+ months etc....
Thats the negative part over. Im self employed (not trading) and its great. I work a couple of hours a day and then do what I want, when I want and then play around on the exchanges in the evenings. Good luck!

[Iron]

I work a couple of hours a day and then do what I want, when I want and then play around on the exchanges in the evenings. Good luck!

What do you do, out of interest?

Jeff

[superfrank]

good luck sweetybt.

i took a nice redundancy package in 09 but very often wish i hadn't (in terms of my net worth, career prospects, social life and health)!

my advice would be to not put all your eggs in the sports trading basket (i don't think it's a decent long-term bet) and get some other strings to your bow if you haven't already.

[Yantraman]

Very best of luck sweetybt!!

I am sure you wont regret it. I will be trying to fit trading around my life as new challenges look to be on the horizon. I dont have kids but the misses wants them and you can only spend so long changing the subjesct all the time!!

She is from Krakow and I recently returned from a trip where I tried a bit of trading and was pleasantly surprised (they have 30mb fast broadband). Our future will involve spending time between countries so trading is a good way to make a living in that respect, but I am always nervous as to how secure the future is in trading. Lets hope ladaq offers us traders something positive for the future and adds longevity to our careers!

[Golfer]

Buy her a puppy, should save you for a couple of years

[freddy]

Good luck sweetybt, it will be either the best or the worst decision you've ever made .

my advice would be to not put all your eggs in the sports trading basket (i don't think it's a decent long-term bet) and get some other strings to your bow if you haven't already.

I would agree with Superfrank here, i do trade full time but i always make sure it's not my only source of income, you never know when the rug will get pulled from under you, so best to have contingency plan of sorts.

[sweetybt]

Good luck sweetybt, it will be either the best or the worst decision you've ever made .

no pressure then

make sure it's not my only source of income,

My wife will be my other source of income until the kids are big enough to start a paper round.

If I get redundnacy they will pay me a lump sum and pay my salary for another 12 months,
I live in Luxembourg, so after this 12 months is up, the dole is 80% of your salary up to 3k a month for 12 months and then 60% for the next 6 months. After this there is also a scheme for those made redundent to top up your previous wage to 80% (max 3k per month) if you can find any similar job at all. This scheme lasts an additional 4 years.

These sorts of pay offs and state benefits are crazy and won't last for ever, so I figure after 14 years paying into the system I deserve a bit of "me time"

[Iron]

I live in Luxembourg, so after this 12 months is up, the dole is 80% of your salary up to 3k a month for 12 months and then 60% for the next 6 months. After this there is also a scheme for those made redundent to top up your previous wage to 80% (max 3k per month) if you can find any similar job at all. This scheme lasts an additional 4 years.

Wow! That's a bit more than the ~ £60 per week Jobseekers' Allowance you get in this country!

Jeff

[LeTiss]

I'm contemplating getting out actually

Having gone to Australia last year, it gave me a thirst for travelling. Perhaps being sat indoors with my laptop all day every day, has pushed me into doing something completely different

I'm fortunate that trading has given me a healthy bank balance, so I'm thinking of closing down all my trading operations and going travelling for a year.

I also done some voluntary work last year after a chance meeting with a young woman, and it opened my eyes to a life less selfish

[freddy]

If I get redundnacy they will pay me a lump sum and pay my salary for another 12 months,
I live in Luxembourg, so after this 12 months is up, the dole is 80% of your salary up to 3k a month for 12 months and then 60% for the next 6 months. After this there is also a scheme for those made redundent to top up your previous wage to 80% (max 3k per month) if you can find any similar job at all. This scheme lasts an additional 4 years.

These sorts of pay offs and state benefits are crazy and won't last for ever, so I figure after 14 years paying into the system I deserve a bit of "me time"

Bloody hell if that's the case then go for it, nothing to lose really

There was a time where i was abit short of money and it badly effected my trading for a while,
but it looks as though you will have plenty in reserve for a year or two, so thats a good a start.

[hgodden]

I live in Luxembourg, so after this 12 months is up, the dole is 80% of your salary up to 3k a month for 12 months and then 60% for the next 6 months. After this there is also a scheme for those made redundent to top up your previous wage to 80% (max 3k per month) if you can find any similar job at all. This scheme lasts an additional 4 years.

Wow! That's a bit more than the ~ £60 per week Jobseekers' Allowance you get in this country!

Jeff

Imagine if that was this country, the Mail and the Express would have a field day!!

[steven1976]

I work a couple of hours a day and then do what I want, when I want and then play around on the exchanges in the evenings. Good luck!

What do you do, out of interest?

Jeff

I sell baskets and furniture as my main business.