Hey hey: what's up my friends, so in today's episode i want to discuss right this right. Should you quit your job to trade full-time, because this is something that i believe is on on your head right and you're thinking about this man right now. Should i quit my job to trade full-time, so in this episode i want to share with you a few important things to consider that many traders just missed out right before you. You know go down this path, number one you must have results to show for.

So if you want to trade full-time right so right now, if you're part-time trading, you must have you know positive results to show for, if you're a losing trader - and if you want to trade full-time, you won't suddenly miraculously become a profitable trader. It doesn't work that way, so this means that if you want to trade full-time right now, you should at least be a profitable trader right. Your trading account is in agreed, you're, seeing some consistency and you want to do it full time, but if you're, not then trading full time will just make things worse and here's. Why let me give you an example: let's say you go down to a casino right, maybe once a week once a month and you're losing money at a casino, and then you tell yourself hmm, maybe if i visit the casino regularly, i can be a consistently profitable Gambler, does it make sense? No, of course not, and it's the same as trading right.

If you are trading part-time, not making money, trust me when you do it full-time, it's gon na get worse right. That's where your emotions come into play. That's where you lose your income, all the negative thoughts come into play and make things worse and i'll talk more about that later. So that's the first thing before you want to trade full-time.

You must have the results to show for it number two. You must have a reasonable trading account size to do it full-time, because, let's face it right, let's say assume you can make 20 a year on a thousand dollars trading account that's about 200 bucks a year on. A million dollar trading account that's about 200. 000.

A year, so you can see that you know it's nothing to do with your strategy, but the size of your account. It matters a lot. I don't think you can survive with two hundred dollars a year by the same time, two hundred thousand dollars a year. I think that's pretty much doable or maybe even hundred thousand dollars or fifty thousand dollars, that's doable for you.

So here's the deal right. If you wan na trade full-time right, you must have the right account size for it. It's going to be pretty done difficult to trade full-time on a small account size, because you probably would be taking a lot of unnecessary risk that leads to account blow up so manage your expectations. Right, don't expect to trade full-time with a 500 or a thousand dollars trading.

Account number three be prepared to be incomeless for weeks or even months, and why do i say that it's very simple, every trading strategy out there right seeks to you know, exploit certain patents in the market and when the market change, that strategy will go into a Drawdown it stops working until that uh market condition, change change back to be favorable for the strategy again. So what this means is that you know if you have a trend trading strategy and if the market is trending, you'll probably make money for weeks four months until the trend stops trending and it goes to a range. You know you reverse, that's where you start to lose money, and you never know ahead of time when market conditions will change. So this is why you experience you know losing streaks.

This is why you experience a drawdown. So what this translates into is that if you are going to trade full-time right, you will expect to you know: go you know weeks, maybe even months right where you know you just don't make money from the markets, because you know market conditions unfavorable to you right. So be prepared for that and, to kind of you know overcome that it's not too difficult. What you want to do is to set aside, for example, 12 months of living expenses.

So when market conditions are not favorable to you, you don't have to you know, dig into your trading account and withdraw money, and you know cover your daily expenses, because you have really a set of set aside a pool of money to cover your expenses and that's Important that gives you like a psychological buffer that hey you know, even if this month i don't make money, i can still put food on the table. I can still survive and that's important. Okay, so that's number three be prepared to be incomeless for weeks or even months number four. This would apply for those of you who have family to feed.

You know if you're single, then you know, i think it's not as hard on you because you're just liable for your own self. You don't have to feed your kids and whatsoever. So if you have family to feed right, my suggestion is that to have a spouse right to at least have a full-time, regular job. So this way, even if your income is not consistent, you have someone right with a consistent income and together right, you all can still you know, put food on the table to feed the kids and stuff like that.

Pay, your bills yup. So it's important right to. If you're married right have a spouse to to uh, works a regular job and then provide a consistent income, because your income is already not consistent, and another thing to add is that, just because your income is not consistent, doesn't mean that you can't contribute to the Household what you can do, instead, you know, instead of you know, putting let's say, uh contributing to the household every single month. What you can do is do it once every six months, because by the end of the six months ten year, chances are your trading strategy or rather chances are.

The law of large number will work in your favor and your your strategy is likely to make money. You know every six months, okay, so by then you have some money to contribute back to your household, so look to contribute. You know every three months, six months, whatever you design right, instead of you know doing it, you know weekly or monthly, and the fifth thing i want to talk about is time frame right. So yes, i know you want to trade full time, but you must ask yourself.

Is this realistic? Because, let's say if you are looking to trade off the daily timeframe, you don't have to do it full time, because on the daily chart the chat is only printed once every single day once every you know, 24 hours. So, what's the point of trading full time on a daily time frame, you don't need to do it full time, so this would only make sense if you are a short-term trader trading after five minutes time frame the 15 minutes timeframe and if you say you want To trade full-time, fair enough right, because you require a lot of screen time to watch the markets. That is perfectly sound. But if you're trading off the eight-hour time frame the daily time frame the weekly time frame - and you tell me you want to trade full time - i say that you're bonkers - it doesn't quite make sense, so think about that right, the time frame and finally, the last Thing that i want to talk about number six.

Is this know what you really want, so many traders say yeah, i don't trade full-time man rainer, but when it comes to trading full-time, it comes to you know, trading. You know in the market watching the market. 10. 12 14 hours a day, they realize man, i'm like a slave.

I slave to the markets. You know sitting in my chair all day and they realize that's not what they really want. What they really want is actually the freedom, the freedom to do anything that you want and still have you know some income coming in to to sustain their lifestyle. That's what they want the freedom, so so think, deep right.

What do you really want? Do you really want to be a full-time trader? You know watching the markets 10 12 hours a day, if so fair enough, go for it right. What i just shared with you would apply, but if that's not what you want right, you want something that you know brings in some money. At the same time, right, allow you the freedom to do things that you want. Then you want to really consider your options.

Right and to take a step back and to see how you can actually achieve that goal, because trading full-time clearly right isn't uh the solution to what you're looking for so think, deeper right. Don't just blindly! You know go after a goal that that uh, you don't really want to don't really understand what it entails and until you you, you put your step your feet in then you realize oh crap, that's not really what i want. Okay, so all this can be planned ahead of time right so take a step back, look at the big picture and ask yourself right. Is this what i really want right so define your goal? First then, after which you can find the approach the medium right to to achieve that goal.

Okay, so a quick recap number one: if you want to trade full-time, you must have results to show for number two. You must have a reasonable account. Size number three be prepared to be incumbent for months number. Four, ideally, you have a partner, a spouse who works full time.

You have a regular source of income that is contributing to the household number. Five right, uh know the time frame that you're trading and finally number six know what you want. Okay, so with that said, i have come to the end of this episode. I'll talk to you soon, you.