๐ I am a fulltime trader
Meaning trading is my main source of income
Here are some of my tips for those who want to leave their day job and want to make this their career:
Have a couple of years of consistent profitability before making the leap
You need to prove that you can survive different market conditions
Dont just quit after you have a few good months
You need a larger timeline to prove you can handle your own
Have plenty of savings
I can't stress the importance of this enough
In the past, I have said at least a year's worth of living expenses put away but recently you may have seen I recommend two
The more the better
This helps you trade from a stress-free place
You may be able to pull it off with just a year's savings but the point is you need that cushion
If rent is around the corner and you do not have that extra money in savings I'm telling you you will trade horribly
It will always be weighing on your mind
Have a large enough account
Get your account to the point where a 3-6% a month gain could easily cover your bills
So you will need to do the math to determine what that will be for you
Because we all have different lifestyles