5 Jobs losses in 4 years time to make this pay
It's possible to do it, but due to Premium charge and weakened markets, going self-employed is more risky now than a few years back
I was made redundant in June 2008, and used my redundancy cheque to finance my Betfair bank. I went full-time before contemplating sending off my CV to companies, and I'm still here - I haven't worked for anyone else in over 5 years
There's a good thread somewhere on the emotional and social downside of being a full-time trader - it's not all sweetness.
I was made redundant in June 2008, and used my redundancy cheque to finance my Betfair bank. I went full-time before contemplating sending off my CV to companies, and I'm still here - I haven't worked for anyone else in over 5 years
There's a good thread somewhere on the emotional and social downside of being a full-time trader - it's not all sweetness.
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superfrank
- Posts: 2762
- Joined: Fri Aug 14, 2009 8:28 pm
+1jimrobo wrote:if I could go back there's no way I'd go full time again.
The problem is(jimrobo, superfrank), that I'm kind of stuck now
I recently dipped my toe in the water about getting a 'normal' job again, but at 43, plus no work experience as such for 5 years, I found it a thankless task. Getting a job that equates to my trading income, or what I was earning previously in Sales, looks almost impossible for a middle-aged man.
If I had my time again, I wouldn't go self-employed either, as I believe it's also made me lazy and very self-centred
I recently dipped my toe in the water about getting a 'normal' job again, but at 43, plus no work experience as such for 5 years, I found it a thankless task. Getting a job that equates to my trading income, or what I was earning previously in Sales, looks almost impossible for a middle-aged man.
If I had my time again, I wouldn't go self-employed either, as I believe it's also made me lazy and very self-centred
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superfrank
- Posts: 2762
- Joined: Fri Aug 14, 2009 8:28 pm
I think this was the thread - bear in mind that this was from the good old days when the exchange was a fair place to trade...LeTiss 4pm wrote:There's a good thread somewhere on the emotional and social downside of being a full-time trader - it's not all sweetness.
viewtopic.php?f=2&t=3538
it made me totally miserable in the end so i decided to start a small business, still working from home, and just trade a bit of nags some afternoons when not busy and trade futures (on longer timescales).LeTiss 4pm wrote:The problem is(jimrobo, superfrank), that I'm kind of stuck now
I recently dipped my toe in the water about getting a 'normal' job again, but at 43, plus no work experience as such for 5 years, I found it a thankless task. Getting a job that equates to my trading income, or what I was earning previously in Sales, looks almost impossible for a middle-aged man.
a bit happier now but i still miss the fun and social side of my old proper jobs.
my advice to anyone considering going f/t is simple...
DON'T DO IT!
if it was a growing industry with a decent income potential then fair enough but it is a one way street at the moment, and has been for the last 2 years. With pc there is zero chance of making it profitable in the long term versus a standard career.
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steven1976
- Posts: 1744
- Joined: Tue Jan 19, 2010 6:28 am
Give up 6 months of your life, invest 5k and decide after the 6 months if it offers a better opportunity than employment. The results will tell you.
lol, I'm sure many many people have had the same thoughtdmbusa wrote:I have just lost my job for the 5th time in 4 years, and am pretty fed up with the whole working for a living lark, so have decided it is time to really work at this to make it worth while.
The trouble is, the trading thing sucks up big amounts of time and energy and there is no guarantee you will succeed; even if you do manage to achieve a liveable income via trading alone (which I suspect, very very few people have managed), it may not last - conditions can change.
Should you fail, with no fall-back, you are basically playing Russian roulette with your life.
The same can be said for any venture with decent potential rewards.Zenyatta wrote: The trouble is, the trading thing sucks up big amounts of time and energy and there is no guarantee you will succeed; even if you do manage to achieve a liveable income via trading alone (which I suspect, very very few people have managed), it may not last - conditions can change.
What's the alternative? Not trying and failing by default?
'With no fall back' is the operative phrase here.Zenyatta wrote:Should you fail, with no fall-back, you are basically playing Russian roulette with your life.
You should never, ever bet the house (literally or metaphorically!).
But if you're confident you have a long-term edge, and you are staking conservatively with a bank you can afford to lose, it's not a bad investment...
Jeff
Jeff, you saw what happened with me last year, I got that lottery win and left New Zealand for Europe to do some sight-seeing, I thought it would be great to be a full-time pro-trader to finance my travels. I started with a 34K bank, and lasted 2 months before going bust...Ferru123 wrote:
But if you're confident you have a long-term edge, and you are staking conservatively with a bank you can afford to lose, it's not a bad investment...
Jeff
When I was debating whether or not to go full time I consulted a friend. He told me I would only regret the things I never did. How true he was!
I don't care what my kids will do as they grow up, as long as they give it a good go and don't fear failing, I'd prefer them to fear not trying.
I don't care what my kids will do as they grow up, as long as they give it a good go and don't fear failing, I'd prefer them to fear not trying.