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What would you need to quit your job and become a professional investor?

Discussion in 'Stock Market Nuts and Bolts' started by VSntchr, Mar 28, 2011.

  1. Value Hunter

    Value Hunter

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    So Cynical how are you tracking compared to your plan?
     
  2. So_Cynical

    So_Cynical The Contrarian Averager

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    Wow flashback - 8 years later and things have not played out as i was hoping for 100% but close, YOY return is averaging about 14% now, capital base has been achieved and
    then some, retirement has been pushed out by 2 years and i bought a nice place overseas 5 years ago...its good to look back and see pretty much all the boxes have been ticked.

    21/24% ~ 2010/11 were very good years and turns out i couldn't maintain that, and thats ok cos i didn't need to.
     
  3. barney

    barney

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    Well done … impressive:xyxthumbs

    Interestingly when I first read the Thread title/question …

    What would you need to quit your job and become a professional investor?


    My first thought was … A richer wife:D
     
    sptrawler, cynic, Skate and 1 other person like this.
  4. barney

    barney

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    ps. Just to follow up on that poor attempt to portray my ("obvious":rolleyes:) apparent male domination on the home front (not), and, just in case my wife ever sees my posts on ASF:eek: ….

    I am currently google searching how to cook a decent home cooked Chinese meal … so I can both impress my wonderful wife … and save her from having to cook after working so hard all day:D ….

    Model husband obviously:cool::rolleyes: … lol …

    pps To keep the thread on point … what would you need to do to quit your job and become a Pro trader

    Simple really ……

    a) Learn how to extract money from the market in a proven regular way, (preferably stress free:eek:)

    and …

    b) Quit your job … and …. continue on with

    a):D (sorry, being flippant, but that is actually the truth minus the details;))
     
    Skate likes this.
  5. Garpal Gumnut

    Garpal Gumnut

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    I've really enjoyed reading this thread, as my "job" has fortunately paid me more than I would ever earn as an investor unless I went John Wick.

    I only invest for my Super Fund, not for income.

    I'm now retired and it is easy from my reading, all the way back to the paperback Daryl Guppy days as to what one needs.

    One mainly needs a cushion for unforeseen adverse events, a calm attitude towards good fortune with fortitude to bad luck.

    In our weekly Texas Holdem group this is between $14-$15,000.
    Drawdown is important. It applies to shares, options, futures etc. Some silly guy with a nappy on his head turns the world upside down and your carefully planned buy goes to crap.

    Rule number 1.................DRAWDOWN

    The next one needs is self-belief, certitude, balls, ovaries, whatever you call it. Not out loud bravado, but an inner strength to enjoy the profits quietly and endure the losses with reflection.

    Rule number 2.................EXAMINE ALL YOUR WINNING AND LOSING TRADES. DON'T HIDE. DON'T BOAST.

    Rule number 3.................NEVER FALL IN LOVE WITH A SHARE. A share promises much. Like Jeffrey Epstein, Prince Andrew and Maxwell's daughter were promised by abusing in their deluded sick way the under-aged vulnerable. It all turns to dust in a smelly cell when it goes A up. Don't fall in love with a stock. If one feels even the slightest attachment, SELL.

    Rule number 4.................THE LAST RULE. BE HAPPY. Shares ain't it all, nor options, futures, etc. etc.

    gg
     
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