Should I Quit My Job To Start Day Trading?

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#daytrading #stockmarket #financialfreedom
Should you quit your job to trade full time? Here are 3 things you should consider before quitting your job to trade full time.
If you enjoyed this video please drop a like and subscribe for more! :)
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- Instagram: / umarashraf
- Twitter: / umarashraf
I use TradeZella to track and journal my trades.
www.tradezella.com/?via=umar
Chapters:
0:00 Should You Quit your Job to Trade Full-Time?
0:50 How consistent has your trading been?
1:25 Does your job get in the way of your trading?
3:08 Can you cover your living expenses for 1 year?
DISCLAIMER I am not a financial advisor and anything that I say on this RU-vid channel should not be seen as financial advice. I am only sharing my biased opinion based off of speculation and my personal experience. You should always understand that with investing there is always risk. You should always do your own research before making any investment.
#daytrader #daytrading #trader

Опубликовано:

5 авг 2024

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Комментарии : 140

@Iam-BruceLee Год назад

Been trading for a few years and finally consistent. My last day as an employee is tomorrow! Nervous and excited but ready for this chapter of life.

@jadhajali2804 Год назад

Make sure you get your business going, and real estate. Don't let trading be your only source of income. Good luck.

@Popx_99 Год назад

Good luck on all your endeavors. Use Wisdom my friend!

@traqnhristov960 Год назад

How is it been going? Do you feel the added pressure that Umar talks about? Are you still consistently profitable? Good luck 🙂

@JK-nd1oo Год назад

Godspeed

@Mabu3035 11 месяцев назад

Congrars and happy profitable trading future bro

@UmarAshraf28 Год назад

Hope you guys found value in the video! If so, please give the video a thumbs up 👍

@JackDaws0n Год назад

always find value with you big bro

@VXRPUBG Год назад

I just sign up for tradezella today . You did a great job .

@arashparsaye5681 Год назад

If you ever wanted to make a video that's a detailed look at how you journal it would great. Everyone I've introduced to you has questions about it.

@ik0ueasyy Год назад

Bro, when can I sign up for Stock Market Lab...I've been waiting for a year now

@srisri4835 Год назад

@@VXRPUBG bro is there any investment plans I don't have grade

@BlackPirateKing Год назад

I gave myself 5 years realistically, too, and quit my job at 35 years old. Focus solely on being a full-time day trader

@angus3963 Год назад

Great value in this video Umar. As someone who has just started the day trading journey (literally under a month ago) I've found your videos to be a goldmine of insight and knowledge!

@250milliondman Год назад

Love the video!! I have been trading on and off for about 3 years. I was looking to go full time but after watching your video. I now have to re-think on how I plan to go about it. Thank you for the advice!!

@dtfdanieel Год назад

nah you really opened my eyes with this one, i appreciate the talk. i needed it 🙏🏽

@TheKobytan Год назад

So much value in these new content!

@coles1674 Год назад

You seem to be doing this purely and honestly. Don't lose that man it's special

@chadl8770 Год назад

Quit my job after being consistent for 4 months straight. Had a strategy etc first few months of this year PA was horrible for me. Past 6 months have been the worst performance I’ve ever had. Safe to say I’m going back to my job.

@yaboijedi6653 5 месяцев назад

How's life been since then?

@brv1022 Год назад

Thanks for the video !!!

@Gambinopowpow Год назад

Million subs in no time with this format 🔥

@nurain8292 Год назад

Respect to the brother for telling us the reality of trading . It all need patience n practice thank u

@axxy44 6 месяцев назад

You're answering every question straight Outta my mind.. Thank you for the advise and the very best videos

@FadalDotCom Год назад

Well said, brother.

@FirkraagAurel Год назад

Totally agree. Even better: Have 2 full year salaries on your account and a reasonable sized trading account in addition before consider quitting. Then day trade for 1-2 years full time. If everything fails, you "just" kill your trading account and get back to your old job.

@Faith12Man Год назад

All facts but I wouldn't set a certain time. Some people it took 8 years some 5, myself 3. Focus on strategy and mindset. Great info and thanks for your content.

@CHRupasinghe Год назад

Great advice

@sheldor73 Год назад

Thanks for all this amazing free info! Goat!

@t.oubass5591 Год назад

you are absolutely right mr.Umar.I represent a living example of what you say; i am 52 years old. i quit my job to day trade and i ended up strangled by debt and i have nothing to offer my children!

@shellprofits Год назад

I'm proud of you son

@wave_forex Год назад

Thanks for sharing sir

@ricardoalvarado8087 8 месяцев назад

I disagree here day trading needs effort, thought , research and decipline. If your serious about trading quit your job be your own boss

@alexolacio5318 Год назад

It depends on the person not everyone has the same mental and emotional strength to operate the market, trading itself is easy but managing yourself is the hard part!

@dhelotwaren6546 Год назад

True

@sleepy_trading Год назад

Well u need a wife to help managing. My wife always next to me if im trading. If im getting emotional she will slap me at the head 😂😅

@Tate793 Год назад

Well said

@stayfocused131 Год назад

true words of wisdom ...

@MrBluemanworld Год назад

What a cool guy, we appreciate all this info. Salam Alaikum 🙏

@Deriv.Forex.Trading. Год назад

Thank you Umar ji❤❤❤

@RasheedGoudedjii Год назад

nice value in the video but some edits makes so sense, keep it up it's coming

@sweehuei2795 Год назад

In my circumstances, I have my full time job and swing trading which suit me. It does not pressure me alot. In my case, I live in Asia, I spend my day time for my job and night time screening stock to trade. I don't spent alot of time looking at chart.

@Pleaseexcusemylanguage Год назад

Thanks for the vid!

@seanmatias1360 10 месяцев назад

My full time job is only 2 days a week cause I am a firefighter. My plan is to keep working fulltime and day trade as well. No need to quit my job. It doesnt even get in the way of trading.

@S.A307 Год назад

THANKS BRO

@jonmalaka Год назад

Very wise advice. Greetings from Indonesia

@jaybro3713 Год назад

When i started trading few months ago, I lost more than 50% of my capital in under 6months. Still I'm not recovered from that loss. I don't blame market but my stupidity and lack of proper understanding at that time. I hope i could go back and make it right.

@subhajitganguly7734 Год назад

Very important video sir❤....please make a video how to stay disciplined in trading

@BD-vg5gg Год назад

@Umar But eventually if you focus on multiple things on your initial days.. Dont you think you can get lost in between? Trading needs serious attention, time and devotion.. Lack of attention to details will create more losses.. Hardly few people can manage two totally different domains.. And trading is totally a different game.

@Nik-tt7of Год назад

Informative

@crh_55 Год назад

100% truths in this video. Very, very, very, very few people make a living day trading. It's the most difficult way to trade.

@KasiryeDeo27 Год назад

This makes Sense

@nuttybartrading Год назад

I'd love a video on how to get through a trading slump when everything you touch goes bad... 😊

@6figurewelderguy 5 месяцев назад

I’ve been studying, practicing, and trading for 6 years. 5 weeks from now I’m quitting my job.

@littleangel2900 Год назад

Absolutely, if your job is not hindering in trading then why quit job, people have made money by trading only during lunch time

@wiseman114 7 месяцев назад

Only one video, this, enough for new 1M subscriber

@sirshamslalani Год назад

Is there any upcoming course? I have been following stock market lab for some dtime but havent seen any updates lately.

@sleepy_trading Год назад

If u dont have other income when u goes to full trade, u will put more pressure to your self because u need to have income every monthe from trading to pays the bills. So basicly most people cant handle that. Esspesially when it close to the deadline paying the bills.

@topofall1992 Год назад

I think it all depends on how serious you are about it. My point? You can NOT be on two completely different "projects" at the same time, you gotta focus on just one to become successful at it.

Год назад

You can be serious in both. You meed money to pay for everything you need (food, housing, utilities, health, etc) so you really can’t leave your job if you don’t have enough money, as he said. Also having a “secure” paycheck allows you to trade without pressure because you NEED the money. Trading is hard as it is, no need for extra pressure to be felt because you NEED to get winning trades.

@Ambujsingh786 Год назад

Sir should prepare mind to take profit while get 1:2 reward. Or wait for more reward? But of the time when i wait reward more reduce

@ale2wavey Год назад

Goated

@traqnhristov960 Год назад

Been trading for a month now and i have consistency but in a bad way 😁. No but seriously, i dont think i would be ready to trade for a living until i go thru a full cycle of bear and bull market because they require different types of strategy and trades to take place and i would need that knowledge. So far i lost 2% of my equity and that is fine. I am prepared and know that all of the money i put into the market is going to go in smoke. As long as i gain knowledge of what i do wrong i can pay that tuition.

@nnconfomiststoic888 Год назад

It gets in the way of my trading so i deposited money into my friend's account to let him trade for me and he made losses consecutively for two days!😅 When I'm free, I'm learning about daytrading. But one day i wanna be a successful full time day trader, so now I'm holding stocks and will trade options when I get around to it.

@skylertrades Год назад

Im debating if i wanna get a job or not. i own a agency but if difficult find new client. i struggle about 2 years, now literally broke. super stress.

@user-dk5it9xh2f Год назад

Awesome video👍👍

@sleepy_trading Год назад

I already retired when 40, So i have few apertment for renting as income and luckily all full, so i have solid income from it for few years till the rent contract end. So i retired and move to full trade. So if i have enough profit im investing to property and renting it. Bank yield is to low for living now. So the best option is to have property.

@kshenriques Год назад

I tried it for a year. I can't believe how much debt I was able to pile up

@NeoSoulCrew Месяц назад

Don't let people scare you. Risk takers are the ones who end up being extraordinary.

@Unknown-nr5zu Год назад

Never Ever Ever even think of quiting your job, unless & until you have a perfected your strategy (all 3M, Mind, Money, Method & gone through ever type of market condition) & have a consistant profitable data of minimum 1 year or more. As well as having saved for another 1 year (if things turn ugly in trading). Then only, one should go ahead slowly & consider quitting their job if they want to & make trading a full time income. Otherwise trust me, will face painful & regrettable consequences. Always remember "Trading for living" which sounds & looks amazing from outside but, in reality one of the most diffcult skills to achieve, were 90% people fail & not everyone can achieve it due to multple reasons.

@theheerasaggu Год назад

What about one who work in construction ? And can’t sit in front of computer in trading hours

@gungadin1389 Год назад

Good video Umar...Salaam bhai-Sunil

@tradingsimplified8158 Год назад

High income earners struggle with this. You already make a solid amount of money but hard to give it up. It’s like golden handcuffs

@Bahzter Год назад

yeah so true, i have a great job, hate it thought, love trading, but my jobs gets in the way of trading, and pays too much to walk away from. eventually though!

@tradingsimplified8158 Год назад

@@Bahzter I am in a very similar situation. I like my job but I love trading more and it gets in the way of trading

@Calx91 Год назад

I quit after a year. Give yourself 3-6 months of consistency before quitting. Oh and make sure you have some savings just in case.

@aqr7654 Год назад

How do I gain your knowledge and make money like you any websites or books?

@ghairatullah7267 Год назад

Umar sir please explain Funded Account For low capital Is this Good? ❤

@babywestside 13 дней назад

Just started to see a bit of profitability about to be my second year .. I feel like 1 more year being consistent and I’ll never have to work Fastfood Again lol

@abdulrauf2835 Год назад

a funded account is a solution for low capital? @umer can you explain this and if yes which prop firm is best for it ?

@ghairatullah7267 Год назад

Umar sir please explain this Topic 🎉

@Gencay.S Год назад

I love this guy Btw.: Does anyone know where he got his zipper from?

@Firefall646 Год назад

No lies detected here,

@Leakmonica Год назад

I quit my Saturday job for day trading.

@Alphation 8 месяцев назад

RU-vid is also your business

@MaxLofi7 Год назад

Not unless you a consistent like he says

@malvernmuzerengani1147 Год назад

Hey bro i have trading problem skills i want be success with your help

@colinmaharaj50 Год назад

Unless I can make 300,000 USD or 400,000 USD, I can't quit my job. Oh, I'm starting with 1500 USD, but it has to be automated. Also where I live, we don't get USD money anymore.

@luckylouie2 Год назад

I did this just 2 months ago and it has been super stressful bro! Crazy…..and I can’t go back to my job cause I told everyone to get fucked I was going to be rich. So stupid🤬

@abbaamuyungesin2131 Год назад

I’m a week from quitting my job to focus on trading full time. Your comment and a lot of other people’s is making me rethink my decision. I should probably wait until I’m consistently profitable.

@luckylouie2 Год назад

@@abbaamuyungesin2131 please make sure you think it all the way through. I got mad at my old job and boss, and just said f- it.....i shouldn't have done that. I'm still trading and as long as I have some money I will continue to trade. 3 years in and I'm still learning everyday. Good luck to you and God Bless.

@mase2themaze Год назад

That wasnt stupid! That was a bold move and I respect you for that!!! You did what you wanted to do, I assume what your heart told you to do. That is what Life is for. Now You just gotta work extra hard and find a way and get IT done. You got this, keep at it, dont fuckn quit, go get it 🙏💯

@luckylouie2 Год назад

@@mase2themaze thank you so much. Your words are very soothing. See I’ve got to where I’m consistent, but I can make enough yet. It was def a dream and I followed it😂😂…..my wife is the freaking awesome one! She has fully supported me every step of the way….she unbelievably wonderful. But at the same time she wants me to find part time work or something to just get out of the house😂😂😂….I study and study charts all the time. Good luck to you @mase2themaze

@ashimbiswas3365 Год назад

👍👍👍

@gilbertraya8344 5 месяцев назад

Another very important question to ask - what kind of lifestyle do I want to live? This question will help answer how much money someone needs to make on a monthly and annual basis. A $3,000 monthly lifestyle is substantially different than a $10,000 monthly lifestyle.

@narendrasingh2472 Год назад

❤️❤️❤️❤️👁️

@STACADA23 Год назад

Would u consider bankrolling a potential trader? i have found my trading strategy and i think it could make plenty in the market but start up funds would be necessary. i can email u a screenshot or whatever u want. thank u

@ChilleDINJerseY Год назад

Just go get funded. Apex, topstep, theres a million. VERY MUCH doubt Umar would do this. Just go with a firm

@nyssaalghoul5872 Год назад

@@ChilleDINJerseY I second this. Get a funded account

@theotheo7034 Год назад

how can you be profitable if you can't trade with a job ? this is why we need to quit our job to do demo trading before

@josefchamera Год назад

Trading View and Think Or Swim has built in features to back test any day & time of the stock market. It's how I develop my strategies and test myself!

@smarthomedecor2224 Год назад

Hi brother

@PrakashNara-ln6lu Год назад

First view

@kellykell8714 Год назад

I quit my job five years ago and I still learning

@mr.erikchun5863 Год назад

still learning? its time to quit buddy

@naeolem Год назад

@Mr. Erik Chun you never should stop learning even if you're a pro

@HuevosRancheros3 Год назад

Can I also get a custom TradeZella hoodie

@LoneWolf-me1 Год назад

In my case I need take a break 3-6 months to really focus on my trading skill and strategy (back& forward-demo test) before jumping into bandwagon. I barely have time to even backtest in the weekend with my current job. So my plans is to quit my job and take a new step as self employer of small bussiness while I can manage my time to learn more about trading. I've been learning about 3 years yet far from ready to take live trading. 😂

@devidjipaperchasing3920 Год назад

That’s exactly what I recently did, sometimes your 9-5 is what holding you back from the next level. It’s been two weeks now since I quit my job. I wnn focus on my trading career, I’ve been learning for 4 years. Within that two weeks of me not clocking in , a lot have changed

@pappas610 Год назад

@Devidji Paperchasing you can and will do it. You got this

@abdulrhmanothman832 Год назад

I want to see andrew tate with anas , I swear this becomes bomb in internet I love you anas❤

@SANJ0288 Год назад

You don't need to quit your job to day trade when you work from home!!!!

@dr.tahafarooq4945 Год назад

I want to leave medicine 😅

@VicDamoneJr82 Год назад

To still have extra sources of income tells me you aren’t a specialist at trading respectfully

@vovanminh999 Год назад

Dude profitable traders, they are all investing in something else.

@alexandreturcotte950 Год назад

I spent 2.5years learning full time. All nighters. It wasn’t until I got a job that trading just started clicking. I was in such a dark place.. I don’t see myself going full time until I know I have some hobby or side hustle to keep me from looking at the charts all day

@JoJo-dh4xg Год назад

Well you do too much YT contents for someone that’s so profitable. Go out and have fun. You are so young but all you think about is money money money. After making 50k/day in options instead of resting - go outside, feel the sun in your face you jump on YT and start saying the same motivational stuff over and over again just for clicks and more money. Geez! Chill man!

@frankthetank8552 Год назад

I Quit trading to build a RU-vid channel 😂😂😂

@GoldMediaDVS Год назад

Simple Answer; Fuck Yes u should quit ur job to day trade if u love trading, but just make sure u can trade for 6 months making a big withdrawl every month and then go full force n prepare for it. That is all. LFG , lets not worry too much, life is too short..all my fellow traders go for it!