Should I Quit My Job To Start Day Trading?
ฝัง
- เผยแพร่เมื่อ 2 ส.ค. 2024
- #daytrading #stockmarket #financialfreedom
Should you quit your job to trade full time? Here are 3 things you should consider before quitting your job to trade full time.
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- Instagram: / umarashraf
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I use TradeZella to track and journal my trades.
www.tradezella.com/?via=umar
Chapters:
0:00 Should You Quit your Job to Trade Full-Time?
0:50 How consistent has your trading been?
1:25 Does your job get in the way of your trading?
3:08 Can you cover your living expenses for 1 year?
DISCLAIMER I am not a financial advisor and anything that I say on this TH-cam channel should not be seen as financial advice. I am only sharing my biased opinion based off of speculation and my personal experience. You should always understand that with investing there is always risk. You should always do your own research before making any investment.
#daytrader #daytrading #trader
Been trading for a few years and finally consistent. My last day as an employee is tomorrow! Nervous and excited but ready for this chapter of life.
Make sure you get your business going, and real estate. Don't let trading be your only source of income. Good luck.
Good luck on all your endeavors. Use Wisdom my friend!
How is it been going? Do you feel the added pressure that Umar talks about? Are you still consistently profitable? Good luck 🙂
Godspeed
Congrars and happy profitable trading future bro
Hope you guys found value in the video! If so, please give the video a thumbs up 👍
always find value with you big bro
I just sign up for tradezella today . You did a great job .
If you ever wanted to make a video that's a detailed look at how you journal it would great. Everyone I've introduced to you has questions about it.
Bro, when can I sign up for Stock Market Lab...I've been waiting for a year now
@@VXRPUBG bro is there any investment plans I don't have grade
I gave myself 5 years realistically, too, and quit my job at 35 years old. Focus solely on being a full-time day trader
Quit my job after being consistent for 4 months straight. Had a strategy etc first few months of this year PA was horrible for me. Past 6 months have been the worst performance I’ve ever had. Safe to say I’m going back to my job.
How's life been since then?
Great value in this video Umar. As someone who has just started the day trading journey (literally under a month ago) I've found your videos to be a goldmine of insight and knowledge!
Love the video!! I have been trading on and off for about 3 years. I was looking to go full time but after watching your video. I now have to re-think on how I plan to go about it. Thank you for the advice!!
nah you really opened my eyes with this one, i appreciate the talk. i needed it 🙏🏽
So much value in these new content!
You seem to be doing this purely and honestly. Don't lose that man it's special
Totally agree. Even better:
Have 2 full year salaries on your account and a reasonable sized trading account in addition before consider quitting. Then day trade for 1-2 years full time. If everything fails, you "just" kill your trading account and get back to your old job.
It depends on the person not everyone has the same mental and emotional strength to operate the market, trading itself is easy but managing yourself is the hard part!
True
Well u need a wife to help managing.
My wife always next to me if im trading.
If im getting emotional she will slap me at the head 😂😅
you are absolutely right mr.Umar.I represent a living example of what you say; i am 52 years old. i quit my job to day trade and i ended up strangled by debt and i have nothing to offer my children!
I'm proud of you son
Respect to the brother for telling us the reality of trading . It all need patience n practice thank u
Million subs in no time with this format 🔥
You're answering every question straight Outta my mind.. Thank you for the advise and the very best videos
All facts but I wouldn't set a certain time. Some people it took 8 years some 5, myself 3. Focus on strategy and mindset. Great info and thanks for your content.
Thanks for the video !!!
Well said, brother.
Thanks for sharing sir
Great advice
In my circumstances, I have my full time job and swing trading which suit me. It does not pressure me alot. In my case, I live in Asia, I spend my day time for my job and night time screening stock to trade. I don't spent alot of time looking at chart.
Thank you Umar ji❤❤❤
Well said
Very wise advice. Greetings from Indonesia
nice value in the video but some edits makes so sense, keep it up it's coming
What a cool guy, we appreciate all this info. Salam Alaikum 🙏
true words of wisdom ...
Very important video sir❤....please make a video how to stay disciplined in trading
Thanks for all this amazing free info! Goat!
My full time job is only 2 days a week cause I am a firefighter. My plan is to keep working fulltime and day trade as well. No need to quit my job. It doesnt even get in the way of trading.
THANKS BRO
I disagree here day trading needs effort, thought , research and decipline. If your serious about trading quit your job be your own boss
100% truths in this video. Very, very, very, very few people make a living day trading. It's the most difficult way to trade.
When i started trading few months ago, I lost more than 50% of my capital in under 6months. Still I'm not recovered from that loss. I don't blame market but my stupidity and lack of proper understanding at that time. I hope i could go back and make it right.
Informative
@Umar
But eventually if you focus on multiple things on your initial days.. Dont you think you can get lost in between? Trading needs serious attention, time and devotion.. Lack of attention to details will create more losses.. Hardly few people can manage two totally different domains.. And trading is totally a different game.
Thanks for the vid!
I’ve been studying, practicing, and trading for 6 years. 5 weeks from now I’m quitting my job.
I'd love a video on how to get through a trading slump when everything you touch goes bad... 😊
Don't let people scare you. Risk takers are the ones who end up being extraordinary.
This makes Sense
Only one video, this, enough for new 1M subscriber
Absolutely, if your job is not hindering in trading then why quit job, people have made money by trading only during lunch time
If u dont have other income when u goes to full trade, u will put more pressure to your self because u need to have income every monthe from trading to pays the bills. So basicly most people cant handle that.
Esspesially when it close to the deadline paying the bills.
I think it all depends on how serious you are about it. My point? You can NOT be on two completely different "projects" at the same time, you gotta focus on just one to become successful at it.
You can be serious in both. You meed money to pay for everything you need (food, housing, utilities, health, etc) so you really can’t leave your job if you don’t have enough money, as he said. Also having a “secure” paycheck allows you to trade without pressure because you NEED the money. Trading is hard as it is, no need for extra pressure to be felt because you NEED to get winning trades.
I already retired when 40,
So i have few apertment for renting as income and luckily all full, so i have solid income from it for few years till the rent contract end.
So i retired and move to full trade.
So if i have enough profit im investing to property and renting it.
Bank yield is to low for living now.
So the best option is to have property.
High income earners struggle with this. You already make a solid amount of money but hard to give it up. It’s like golden handcuffs
yeah so true, i have a great job, hate it thought, love trading, but my jobs gets in the way of trading, and pays too much to walk away from. eventually though!
@@Bahzter I am in a very similar situation. I like my job but I love trading more and it gets in the way of trading
Been trading for a month now and i have consistency but in a bad way 😁. No but seriously, i dont think i would be ready to trade for a living until i go thru a full cycle of bear and bull market because they require different types of strategy and trades to take place and i would need that knowledge. So far i lost 2% of my equity and that is fine. I am prepared and know that all of the money i put into the market is going to go in smoke. As long as i gain knowledge of what i do wrong i can pay that tuition.
Goated
Never Ever Ever even think of quiting your job, unless & until you have a perfected your strategy (all 3M, Mind, Money, Method & gone through ever type of market condition) & have a consistant profitable data of minimum 1 year or more. As well as having saved for another 1 year (if things turn ugly in trading). Then only, one should go ahead slowly & consider quitting their job if they want to & make trading a full time income. Otherwise trust me, will face painful & regrettable consequences. Always remember "Trading for living" which sounds & looks amazing from outside but, in reality one of the most diffcult skills to achieve, were 90% people fail & not everyone can achieve it due to multple reasons.
Is there any upcoming course? I have been following stock market lab for some dtime but havent seen any updates lately.
It gets in the way of my trading so i deposited money into my friend's account to let him trade for me and he made losses consecutively for two days!😅 When I'm free, I'm learning about daytrading. But one day i wanna be a successful full time day trader, so now I'm holding stocks and will trade options when I get around to it.
Awesome video👍👍
I tried it for a year. I can't believe how much debt I was able to pile up
Im debating if i wanna get a job or not. i own a agency but if difficult find new client. i struggle about 2 years, now literally broke. super stress.
I quit my Saturday job for day trading.
I quit after a year. Give yourself 3-6 months of consistency before quitting. Oh and make sure you have some savings just in case.
What about one who work in construction ? And can’t sit in front of computer in trading hours
I love this guy
Btw.: Does anyone know where he got his zipper from?
Good video Umar...Salaam bhai-Sunil
Sir should prepare mind to take profit while get 1:2 reward. Or wait for more reward? But of the time when i wait reward more reduce
Not unless you a consistent like he says
Just started to see a bit of profitability about to be my second year .. I feel like 1 more year being consistent and I’ll never have to work Fastfood Again lol
TH-cam is also your business
No lies detected here,
How do I gain your knowledge and make money like you any websites or books?
a funded account is a solution for low capital? @umer can you explain this and if yes which prop firm is best for it ?
Umar sir please explain this Topic 🎉
Umar sir please explain Funded Account For low capital Is this Good? ❤
Unless I can make 300,000 USD or 400,000 USD, I can't quit my job. Oh, I'm starting with 1500 USD, but it has to be automated. Also where I live, we don't get USD money anymore.
I quit my job five years ago and I still learning
still learning? its time to quit buddy
@Mr. Erik Chun you never should stop learning even if you're a pro
Another very important question to ask - what kind of lifestyle do I want to live? This question will help answer how much money someone needs to make on a monthly and annual basis. A $3,000 monthly lifestyle is substantially different than a $10,000 monthly lifestyle.
Hey bro i have trading problem skills i want be success with your help
First view
how can you be profitable if you can't trade with a job ? this is why we need to quit our job to do demo trading before
Trading View and Think Or Swim has built in features to back test any day & time of the stock market. It's how I develop my strategies and test myself!
I did this just 2 months ago and it has been super stressful bro! Crazy…..and I can’t go back to my job cause I told everyone to get fucked I was going to be rich. So stupid🤬
I’m a week from quitting my job to focus on trading full time. Your comment and a lot of other people’s is making me rethink my decision.
I should probably wait until I’m consistently profitable.
@@abbaamuyungesin2131 please make sure you think it all the way through. I got mad at my old job and boss, and just said f- it.....i shouldn't have done that. I'm still trading and as long as I have some money I will continue to trade. 3 years in and I'm still learning everyday. Good luck to you and God Bless.
That wasnt stupid! That was a bold move and I respect you for that!!! You did what you wanted to do, I assume what your heart told you to do. That is what Life is for. Now You just gotta work extra hard and find a way and get IT done. You got this, keep at it, dont fuckn quit, go get it 🙏💯
@@mase2themaze thank you so much. Your words are very soothing. See I’ve got to where I’m consistent, but I can make enough yet. It was def a dream and I followed it😂😂…..my wife is the freaking awesome one! She has fully supported me every step of the way….she unbelievably wonderful. But at the same time she wants me to find part time work or something to just get out of the house😂😂😂….I study and study charts all the time. Good luck to you @mase2themaze
Hi brother
👍👍👍
In my case I need take a break 3-6 months to really focus on my trading skill and strategy (back& forward-demo test) before jumping into bandwagon.
I barely have time to even backtest in the weekend with my current job.
So my plans is to quit my job and take a new step as self employer of small bussiness while I can manage my time to learn more about trading.
I've been learning about 3 years yet far from ready to take live trading. 😂
That’s exactly what I recently did, sometimes your 9-5 is what holding you back from the next level. It’s been two weeks now since I quit my job. I wnn focus on my trading career, I’ve been learning for 4 years. Within that two weeks of me not clocking in , a lot have changed
@Devidji Paperchasing you can and will do it. You got this
❤️❤️❤️❤️👁️
Would u consider bankrolling a potential trader? i have found my trading strategy and i think it could make plenty in the market but start up funds would be necessary. i can email u a screenshot or whatever u want. thank u
Just go get funded. Apex, topstep, theres a million. VERY MUCH doubt Umar would do this. Just go with a firm
@@ChilleDINJerseY I second this. Get a funded account
Can I also get a custom TradeZella hoodie
I want to see andrew tate with anas , I swear this becomes bomb in internet
I love you anas❤
You don't need to quit your job to day trade when you work from home!!!!
I spent 2.5years learning full time. All nighters.
It wasn’t until I got a job that trading just started clicking. I was in such a dark place..
I don’t see myself going full time until I know I have some hobby or side hustle to keep me from looking at the charts all day
I want to leave medicine 😅
To still have extra sources of income tells me you aren’t a specialist at trading respectfully
Dude profitable traders, they are all investing in something else.
Simple Answer; Fuck Yes u should quit ur job to day trade if u love trading, but just make sure u can trade for 6 months making a big withdrawl every month and then go full force n prepare for it. That is all. LFG , lets not worry too much, life is too short..all my fellow traders go for it!
I Quit trading to build a TH-cam channel 😂😂😂
Well you do too much YT contents for someone that’s so profitable. Go out and have fun. You are so young but all you think about is money money money. After making 50k/day in options instead of resting - go outside, feel the sun in your face you jump on YT and start saying the same motivational stuff over and over again just for clicks and more money. Geez! Chill man!
Day trading is haram. you will go to hell when you die
You don’t know that.
ahahahahhahahaa you mean you quit trading to become a full fledged youtuber m8
As a trader i usually ask them, myfxbook or and any other similar to it.
Can you guide me to start trading how can I chat with you one on one