Hi Gviners,
I really need your advice on this as I'm in a position where I have to make a decision and can't afford to wait any longer.
I've been backtesting the Indian markets for more than 4 years, and I decided to quit my job only after gaining the confidence that I can generate good returns through trading.
Currently, I'm working in IT (~15 LPA) and I'm 27 years old. I have friends earning 30–50 LPA at big product-based companies, and I'm confident that I can crack such roles too, as I have a strong grasp of DSA. However, I chose to invest my time in trading because of its huge potential. I deliberately chose this job so that I would have time for trading so it's almost like I'm sacrificing 1-2 Lakhs every month but If I can succeed in trading, I could earn more than my friends and enjoy greater freedom in my life.
Right now, I'm a bit confused about which path to choose. Every time I see my friends' lifestyles, I feel motivated to focus on DSA and get into those roles. But deep down, I know I have the potential to achieve something big with trading. I'm really stuck at this point, so I'm seeking suggestions from you all. Please share your thoughts on what would be the best decision for me at this stage of my life, considering my trading expertise.
For your information: I can consistently make a minimum of 7% returns monthly. I've also trained myself in trading psychology, which I believe is crucial for long-term success in the markets.
Should I take the risk and go all in with trading now, or should I first get into a big role, accumulate significant capital, and then take the risk later?
The reason I'm hesitant about the second option is that I'm unsure how things will change after marriage.
Hope you know the fact that 93-95% of the traders lose money.
Yes,my broker reminds me every time I open the app
One of my colleague commit sucide because of trade - https://www.businesstoday.in/latest/in-focus/story/bengaluru-stung-by-stock-market-losses-andhra-techie-commits-suicide-after-killing-wife-two-daughters-says-report-392970-2023-08-05
@AstonishingNucleotidase
Get a high paying job.
Save up money worth 2 yrs expenses (factoring in wife, kids, emis etc)
Save another amount which will be trading capital ( upon your choice)
Then take a six month sabbatical, claim mental tension.
Start trading.
If you can make another 2 yrs worth of money in Six month's using only your trading capital, take up full time trading.
You could also blow up your entire trading capital before 6 months.
If you don't succeed, slink back into your job.
Sounds like a plan. As a person from the middle class, I don't have a choice to go all in & risk it all but my mind is not willing to play it safe as I am able to see good returns consistently and it's just a matter of scaling up capital. I'll definitely consider your suggestion in the finalising process of my decision.Thanks
"not willing to play it safe" & "I'm trained in trading psychology" doesn't go together. Whatever this comment listed is the sensible plan. Quitng and trading, what if market crash to 50% of what you've invested. If you are working somewhere you will have additional cash reserve to buy the dip. Buffet fvours long term investment into value orgs. Not short term trade
You have age by your side, so there is no harm in taking some risk as long as you are confident about it, however make sure to not gamble and use all your savings. Take out a corpus which you feel can be used in trading and even in worst case situation, if you end up losing all of it, you need to be mentally prepared for it
Yes. I will keep a certain amount aside (emergency fund). Thanks for the comment ❤️
Trail out for any year , ensure your emergency funds cover your expense for an year , have a mindful spending . Make a decision by end of the year, you can always come back to IT , one year gap is not a deal breaker for most of the companies
Derivatives or Stock Intraday. Lets connect I have been in the market for past 3 years have great psychology generating good returns on selling options
I'm into derivatives.
Can I know if is that selling options??
Bro, being in finance field and 'been their, done that', i would just say that there is huge difference in backtesting and running actual trades, i hope when you say you 'can' make 7% monthly return, you have accounted for parameters like participation effect, impact cost, slippage in price execution, hedging, max draw down risk, and measured portfolio stats like CAR/MDD, sharpe ratio, sortino, etc.
And if you say you have actually cracked the code and not just 'can', then dont leave your job but 'do it' or execute it successfully for few market cycles. And still if you say your strategies work, just join a trading firm or HFT firm, etc and make money their.
I don't know those jargons(never heard of CAR/MDD) but I get what you are saying , thanks
If you are good in dsa and all why don't you use you skills and create an algo based trading, and let automation do your job
Tbh, I did. My code runs every 15 mins and sends signals to my telegram bot. That's the strong proof that gave me confidence to finalize the decision. Infact I have setup a website to track all those entries and exits it does and they gave profits at the end of the month.
Bhai khusi baatne se badhta h hme v share karo apne buying candles 🫡
If you are so confident, start with vacation and leave without pay.
This way you can trade 3-6 months with freedom from your job, and once you are very comfortable you can switch completely.
The problem with trading is that it's a lonely business, you will get free by 3:30, and no one will be around to enjoy free time.
I attempted LWP last year, and it was so boring I decided to let myself work till my company doesn't kick me out.
Do companies give that? I doubt my company provides that? Yes, I can relate to that lonely part. I really wait for Monday during weekends. I'm sure you wouldn't have gotten into the job again if you had made profits? When you make big money every month, loneliness is an excuse, what do you say?
Money you can make while doing a job also, I was so bored, I coded all my strategies. Now it runs on my aws server.
@AstonishingNucleotidase - Bro, i would strongly suggest u do that. I see many people saying NO NO. But trust me, when u take a chance, u will earn good, if u don't, u will earn experience, and it's not like u can't give an interview for another company. I say take chance when u still have age. In future if u r 60, u want to, but u can't
Yes right ❤️🔥
You are just 27. Dont think about trading. You never know what will happen next day. So much happening in current world, trade wars, ground wars, disruptions, AI innovations. People who do trading have deep pockets and use AI models for prediction. I am sure you wouldn't be equipped with that. Trading is a zero sum game. Some one's gain is someone's loss. My advice - Increase your active income, do well in your job, Enhance your employability skills. Invest heavily via stocks and mutual fund and keep trading simultaneously just for gamble to check where you stand. Do this till next 12-15 years. By that time assuming your current ctc, you would be in a financial stable position and in a much better place to decide.
Appreciate your suggestion but my goal is bigger and I can't wait even 5 years
7% is nothing bro. Even FD can give you more than that.
It's monthly not annual
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