Quote:
Originally Posted by walepdydy
How can a part time trader be a proffesional trader?:cool:
|
It's interesting you should ask. I've been writing a little about that very subject recently. I am a firm believer that ANYONE can make a choice to act as a professional. In my opinion this is a matter of conduct, not one of occupation.
I'll give you a personal example. I consider myself a full time trader. Virtually my entire work day is spent in the market. I also work with a handful of clients and do things like write for this forum. But I also have other business interests. I own two other companies. I have set up my life in such a way that allows me to do what I love most....trade. Does the fact that I have other revenue streams in addition to my trading mean I am not a professional trader? Of course not.
When most people think "professional" they think of someone in a prop room or on the floor of an exchange making millions a year. While this is certainly true, there are just as many traders making modest livings trading from home or in conjunction with some other business venture.
To use just one more example, I know a man who has a full time job in a field unrelated to the trading industry who also trades. He has been wildly successful and could easily quit his job any time he wanted. I think he stays because he loves his day job. But you would be hard pressed to convince me he is not a professional. We had a discussion a few weeks ago about the currency market and the condition of the dollar. I have a huge respect for him and his opinion.
Professionalism for me is defined by ones actions in the market. It is the only measure I use. I don't care if you make a dollar a week or a thousand. If you can do it consistently, your a professional in my book.
Hope that helped.