Today there was a comment from a reader "Chota Bheem" as follows:
Hello Ur Dave, I just came across your blog (thanks to niftynirvana). :) Looking at your performance, I think you are making an average of 300+ points in NF every month. Considering, one trades with lets say 6 lots (old quantity), one can easily make about 1L/month. Please dont take in wrong sense, but I'm just wondering what makes you still stress urself with your full time job ? I guess you can start trading bigger lots just with about 3 lakhs of capital (50k/lot to be safe). Again.. this is more of curious question.. hope I didn't sound offensive...
I thought about replying to this in the form of a post so that other readers having the same doubt can know about my views.
I would like to talk some about the financial aspects of trading full time. Here I go,
If I was 23 to 24 years of age, about to start my career, had no responsibilities, I probably would have been trading full time. Today at 41 years of age I am the only earning member in my family. My wife is a home maker taking care of our two little princesses, age 10 and 3. So I have the responsibility of all three of them. Also I have some other financial liabilities, like home loan etc. Currently, I am earning 50K plus each month from my job and I would like to ensure when I start trading full time I earn at least 50K per month.
What I have planned is that, first get rid of all financial liabilities and save some funds which can take care of my expenses for few years while I am trading and also some trading fund. So that way I do not have any restrictions financially. Even if I blow up my trading account or do not make a penny while trading, I can survive for few years at least.
There are lot of uncertainties when you opt trading as a career. I am fully aware of that. You do not know whether at the end of month market will pay you your remuneration. It is not your usual full time job where you are ensured a fixed amount at end of each month if you work properly.
Currently I am in a learning phase. My aim right now is to get my strategies right and build up the confidence by applying them in live market with minimum risk. Make less mistakes, as less as possible, and learn from them. Also I am in the process of making preparations for future, finance wise, creating a good corpus of fund. I want to enter into the market full time only when I am fully equipped skill wise, emotion wise and finance wise. I do not want to hurry. Let it take time. I do not know about the time period it is going to take but I am sure one day I will be trading for living.