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Rising Star
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Visual Storyteller
If you’re confident, do it. I’m sure you’ll take into consideration of what you need to avoid issues that may come up. Have a big emergency fund too. Other than that, seems like you’re well on your way. Everyone will say, well the market has gone up blah blah blah. Don’t listen to them. You obviously have a process that seems to be working and you’ll fine tune it once the road gets bumpy.
Enthusiast
Seems like it would be a stressful existence to need to make consistent returns. Would you really make that much more money if you were dedicated to it full time? What about health insurance and access to retirement savings? Seems like the safest thing would be to find some job that provides basic coverage and a consistent paycheck but also has a light workload to allow trading during the day
I stopped reading when i found out that people actually spend 600/month on car payments..absurd
Rising tide lifts all boats. There are teenagers on TikTok making millions of meme stocks. Can you maintain the same performance in a down market?
This is what’s keeping me from pulling the trigger I don’t touch the meme stocks. I’ll see how well I do within this next year before I make a decision.
It's easy to make money when everything keeps going up. Stock market avg 7-8 percent a year over long term. 30 percent years are abnormal. Make sure you have a plan for the bear market.
Or just keep ur day job and day trade at the same time. Faster way to retire. Dual income
Tell me it’s a bubble without telling me it’s a bubble.
Mentor
Everyone knows stocks only go up.
Enthusiast
If you’re so good at it get to FIRE levels of wealth then just quit
Mentor
Just FYI $3K a week is not enough to actually live on. Consider what your down weeks would be like. Can you survive a month of down weeks? I know $3K a week feels big. But grand scheme, it's not, and you can make much more guaranteed by continuing doing your job. At this point, I'm easily pulling $8K a week on comp and getting $2k weeks in stocks. Don't forget the long game
What’s your sharpe ratio?
Lol a Sharpe ratio at 6 months tells you nothing
ASAP. Yolo.
To the moon 🙌🙌💎💎🚀🚀🚀🚀🔥🔥🔥🤣
I would give it a few more months, but if it’s really in you then go for it. In the past year and a half, I was able to grow my portfolio from less than $100k to over $1m. I’m doing it full time now and leveraging capital to continue building my portfolio.
Mentor
What are you on right now
When early success leads to overconfidence that competence likely cannot match.
I’ve always been super confident only because I’ve always prepared myself correctly. I would never make a decision regarding my career unless it made complete sense.
Mentor
Don't leave until you have made money through at least a 20% correction. Clearly doing well in a bear market would be a great t test but even minor pull-backs and corrections happen pretty frequently. Calculate your Sortino ratio as well. Did you follow your rules last week? How did you do?
What most people here don’t talk about enough is the technical analysis aspect of say trading. Just because the market is down or if we’re in a bear market, doesn’t mean that it’s a lot harder to make gains. Once you’ve learned the technical aspects of trading then you can understand better how to make money. Of course if fundamentals are good, making money is easier.
Everyone’s a great day trader in a bull market
The last time I remember day trading being a " thing" was the 90s, didn't hear of anyone doing it from 2000-2010. Basically people look at returns in terms of dollars and realize they can replicate their paycheck by trading. Ultimately isn't sustainable though because : you can never take a true vacation, Healthcare costs going up, taxes on cap gains, I'm sure many others but you get the idea
I’d be cautious, has been really easy to make money last six months. I’ve averaged more than you have per week just by following stocks on trend. Why not do it for a year or two and prove it out over longer duration / build account size to absorb losses that you’ll have along way?
What does following stocks on trend strategy entail?
Once you have minimum $1 million saved up in cash after buying a house. Then you can think of moving into day trading full time.
Enthusiast
What are you investing to get $3k a week?
Subject Expert
The last 6 months is a such a skewed window. September sell off + dip and rip. Virtually, everyone is up in that span unless you were long bonds, cash, or gold. If you want to day trade full time, see if you can beat the market across both bull and bear scenarios. I wouldn’t get too cocky about it what you made. I’ve had my best year ever, but it’s not because I am a better trader.
Subject Expert
Take $50K into a separate account. Do not add to that account monthly. Day trade on it and take out your profits every week. See if you can live on that after you pay short term cap gains. That will test your actual day trading skills. Conflating your long term investments with day trades muddies the water on how good you are at day trading.
How's your P/L been recently