Should I quit my job? The common question among many traders who do trading along with the job. Now let us discuss the possible answers to this question.
But before that let us see the difference between doing a job and trading
Does trading give Fixed income?
In a job, you will have a fixed income at the end of the month. But in case of trading, you can’t even think about that. Income from trading depends on the conditions of the market and your experience.
What about Freedom?
A Trader can enjoy his life on his own terms. In the case of a person who does a job, he has to spend most of his day at the office. So forget about freedom. Of course, you can enjoy your weekends unless you an IT guy who maintains the server – pray for the server to no go down on weekends (just kidding😜)
In 9 to 6 jobs usually work pressure is common during peak times. One has to meet his/her assigned targets on a daily basis. Similarly in trading also you need to meet targets but these are the targets set by yourself.
What about Social life?
You don’t find any problem in your social life if you are a job person because you spend most of the day a workplace surrounded by colleagues.
But in the case of professional trader social life is almost nil. The main reason for is that a trader can set up his workplace at home. With a laptop, he can trade. There is no need for him to go to the office.
“Trading is a lonely Job”
If you don’t have paycheque day how can you think about a hike? This is the case with a trader. So don’t ask this question. But you improve your returns on capital by tuning your working strategy and money management techniques.
When coming to the hikes of an employee it varies on several conditions like company situation, employee performance, behaviour and many “n” number of factors.
Here comes our main question – Should I quit my Job for trading?
The answer is “It depends on what kind of trader you are”.
If you are a swing trader then there is no need to quit your job because swing traders mostly use the end of day data to analyze the stocks. Once the position is taken on a certain stock all they have to do is track the performance daily at the end of the day.
But in the case of a day trader or scalper, they need to be active before the screen because they execute the trades during the market hours. It gets difficult to day trade when you are at work. If you are a day trader then you need to do it full time.
Trading is a risky profession. Without proper knowledge and experience if you quit your job these ruthless markets can blow your capital in no time.
That is the end of the article. I am attaching one more interesting article here. consider reading this – Investor or Trader. Who are you?