Many people quit their jobs because they are tired of being bossed around by their bosses, or because they don’t want to deal with the work pressure anymore. But after quitting, how do you make ends meet and achieve financial freedom?
Some people choose to start a business and be their own boss, while some are mulling on a more risky path: trading stocks full-time. But is it possible to go this route?
Frankly, making money by being a full-time stock trader is no easy task. The challenges on this road may be much greater than you think. First of all, the income from stock trading is hard to stabilize. Second, you need to be able to control greed and fear, which is the hardest part in trading. Finally, you may have neglected your social circle by delving into the stock market for a long time, and frequently staring at a computer screen and doing researches will negatively impact your health.
Plus, the opportunity cost of quitting your day job and trading stocks is huge. I remember that I once read a comment on a forum that goes something like this: If you put one tenth of your efforts of trading stocks in a job or business, you may have already been rich and successful.
That being said, I believe some people who choose to trade for a living can be successful, but the odds are not too good. If you have enough fund, talent, patience, experience, skills, and a sound “trading system”, you can beat the odds and come out on top. But for the average players, the costs of success in trading could be way more than you expected.