Trading shares as primary income source?

[WillyWonka]

Hello,

I was interested to know if anyone here uses share trading as their primary income source?

It is a dream of mine to give my current line of work a friendly wave good bye and try my hand at something else.
I was wondering what sort of capital one might be exposing to the market to make a return of around 50-60k a year?

 

[Boggo]

Hello,

I was interested to know if anyone here uses share trading as their primary income source?

It is a dream of mine to give my current line of work a friendly wave good bye and try my hand at something else.
I was wondering what sort of capital one might be exposing to the market to make a return of around 50-60k a year?

Look at your profit for the last year as a percentage of your current trading capital and you can work it out easily.

 

[WillyWonka]

Look at your profit for the last year as a percentage of your current trading capital and you can work it out easily.

Yes very true, however I have only been trading since January 2014
I was more interested in hearing about other peoples experiences with this.

 

[CanOz]

Nick Radge once said to me regarding trading full-time "when your trading income is three times your normal salary income, you could be ready to start trading full-time"...

Of course i'm sure Nick was 'building in' a little safety margin there, but its a good rule of thumb.

 

[skc]

Some views here

http://bclund.com/2013/06/02/so-you-want-to-trade-for-a-living-how-much-money-do-you-really-need/

http://www.michaelkdawson.com/2011/04/23/how-much-money-do-you-need-to-start-trading-full-time/

Ultimately it depends on your trading style and prowess. So if you don't know that then it's unknowable how much capital you need.

 

[MichaelD]

Nick Radge once said to me regarding trading full-time "when your trading income is three times your normal salary income, you could be ready to start trading full-time"...

Nick Radge is a very wise man. This figure gels with my personal experience perfectly.

Much of the truth in this stems from being able to cope with the variability of the income stream. More specifically, being able to be at peace with the poor performing weeks.

 

[So_Cynical]

Hello,

I was interested to know if anyone here uses share trading as their primary income source?

I was wondering what sort of capital one might be exposing to the market to make a return of around 50-60k a year?

Look at your profit for the last year as a percentage of your current trading capital and you can work it out easily.

That's true, and based on my average of 16% i would need around 345K, however my retirement needs are less than half your 50 - 60K primary income figure so as of yesterday i have officially moved into semi retirement. feels good to.

 

[VSntchr]

That's true, and based on my average of 16% i would need around 345K, however my retirement needs are less than half your 50 - 60K figure so as of yesterday i have officially moved into semi retirement. feels good to.

Congrats SC.

http://www.michaelkdawson.com/2011/04/23/how-much-money-do-you-need-to-start-trading-full-time/

Thanks for the link SKC, interesting blog.

 

[CanOz]

so as of yesterday i have officially moved into semi retirement. feels good to.

Well done SC