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Should I take dive and trade my own account ?
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Should I take dive and trade my own account ?

  #1 (permalink)
Trading Apprentice
philadelphia,pa,usa
 
Futures Experience: Intermediate
Platform: tradestation
Favorite Futures: gold
 
Posts: 2 since Oct 2013
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Should I take dive and trade my own account ?

Hi there!
Am new to this forum. I am computer programmer and have worked at successful hedge fund for last 10 years. I make a good living. I am 40 years old, married with no kids but we soon plan on having 1 or 2.

I have about 2.2 million saved and am looking to trade futures on my own. The hard part is leaving my job because it pays well with great benefits. I am confident I can make 10-15 pct a year trading on my own. Taxes of course would decrease this amount. My wife is not a big spender so no worries on that front, plus she want to work part time pulling in 30k a year.

My reason for going on my own is mainly because firm I work for has changed too much. Politics have taken over and the people in charge I don't really believe in. They have positions due to politics rather than skill. In old days the skilled folks ran things. Returns have suffered due to this.

I know I'm smart enough to do. My main concern is will I be too lazy to get up and do the work everyday without someone looking over my shoulder to make sure I work.

Would you guys do it in my situation ? I am weighing good secure income against less secure income but independence and freedom and challenge.

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  #2 (permalink)
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  #3 (permalink)
Elite Member
las vegas
 
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Being smart or already having a lot of money has nothing to do with profitable trading. If you have a job then I would keep it until you know you can trade.

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  #4 (permalink)
Elite Member
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vegasfoster View Post
Being smart or already having a lot of money has nothing to do with profitable trading. If you have a job then I would keep it until you know you can trade.

What he said, +1

"Money is better than poverty, if only for financial reasons." - Woody Allen
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  #5 (permalink)
Trading Apprentice
philadelphia,pa,usa
 
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vegasfoster View Post
Being smart or already having a lot of money has nothing to do with profitable trading. If you have a job then I would keep it until you know you can trade.

I would like to do this but with my current job I'm not allowed to trade due to company rules ( signed contract ). I have backtested and have success with the back testing.

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  #6 (permalink)
Market Wizard
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have 2 kids ASAP. You will see how early you wake up while laziness goes away.

PM with any questions about optimusfutures (800) 771-6748 (561) 367 8686. THERE IS A SUBSTANTIAL RISK OF LOSS IN FUTURES TRADING.
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  #7 (permalink)
Market Wizard
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vegasfoster View Post
Being smart or already having a lot of money has nothing to do with profitable trading. If you have a job then I would keep it until you know you can trade.

He made is money while working in a hedge fund. He should have an edge over others if that is thge case.
Unless it's like Goldman where secreteries who lick envelops make $400K in bonuses

PM with any questions about optimusfutures (800) 771-6748 (561) 367 8686. THERE IS A SUBSTANTIAL RISK OF LOSS IN FUTURES TRADING.
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  #8 (permalink)
Elite Member
Boston, MA
 
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The first thing you may wish to do with your 2.2 bars is become an Elite member of futures.io (formerly BMT). Then consider sharing your experience at the hedge fund and see how others are trading for a living.

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  #9 (permalink)
Capt. Johnny Jameson
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kolmogorov View Post
My main concern is will I be too lazy to get up and do the work everyday without someone looking over my shoulder to make sure I work.

I can tell you for sure...unequivocally, without a doubt....when it's your money and up to you to make a living, you WILL get up and WORK.

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  #10 (permalink)
Elite Member
las vegas
 
Futures Experience: Intermediate
Platform: Sierra Chart
Broker/Data: Velocity/IB
Favorite Futures: 6E
 
Posts: 1,147 since Feb 2010
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mattz View Post
He made is money while working in a hedge fund. He should have an edge over others if that is thge case.
Unless it's like Goldman where secreteries who lick envelops make $400K in bonuses

Let's assume he was programming algos, is that gonna help him as a retail trader? I don't think so, but I don't really know, I just know I would highly recommend figuring it out first.

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