A Collosal dillema - many sleepless nights on this one

what do i do

  • live the dream...but risk it going up the swannie

    Votes: 10 90.9%

  • rejoin the rat race...

    Votes: 1 9.1%
  • Total voters
    11
Gilly

Gilly

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so here is the thing...

i was made redundant in may of this year, was in no rush to start a job so decided to have a dabble spreadbetting shares, as i have traded shares for a good few years.

to cut a long story short over the last two months i have been trading full time and to be fair, making a fair old whack week in week out, that when taking a daily average of income x by 52 weeks a year...would be the equivelant of a chunky salary...

problem is...its not guaranteed, and its not considered the "norm" to sit in your pants all day trading shares.

the dilemma is i have been applying for jobs as it seemed lke the right thing to do (ie work a 9-5) and am due to start a new job tuesday. the money is good (albeit about a third of what i have been earning over the last two months trading) its guaranteed income, its the norm, its stability.

so what the feck do i do...carry on trading, no commute, loads of time with the kids, chance of earning a stack..but the chance of it all going tits up

or commute to birmingham day in day out for a long career, pension and decend ish salary...

i am looking for rash opinions and thoughts :)
 
live the dream and do the rat race if it goes pete tong,my choice is swung by the chance of spending more time with your children.
Good Luck with whichever path you choose.
 
I am with Jase.

Unless there is some way to comute with a reliable salary and trade for a few hours in the eve to allow you to have a decent Christmas/holiday fund as an added bonus !
 
Stay trading shares in your pants but do something useful with the extra money you earn (save/invest) then if it does go tits up you can at least live until you are forced back into the rate race!
 
take the job and do a bit of sharetrading in the back ground i used to do this a while back now though, and used to be a bit more long term things may have changed now.. you doing day trading atm?
 
rasA4 said:
take the job and do a bit of sharetrading in the back ground i used to do this a while back now though, and used to be a bit more long term things may have changed now.. you doing day trading atm?
Click to expand...

Yeah I agree, I also dabble with shares have quite a large holding but mines based around the long term hopefully in about 4 years I should be set for life. I'd work and trade shares, you might not see the kids as much as you want but they will always have a roof over their heads and probably want for nothing....

I live my life by two mottos, one of which is 'hope for the best, plan for the worst' sounds a bit gay but has done me alright over the years (doesnt help that Im a cynical pessimistic ******* tho) ... :)
 
I work full time (I have my own firm) but also have built up a portfolio and am looking to being able to retire on it within the next 18 months if things continue in the way that is anticipated or my particular shares. I'd say spread betting is a bit risky as you could get caught out on margin if you go in too deep. Maybe a split between investing, trading and spreadbetting would be more sensible. And buy a shedload of Gulf Keystone Petroleum asap...
 
Any possibility of working part time with a company and then do the shares for the other half of the week? A bit of a happy medium so to speak? However I don't know what's involved with all this trading. It sounds interesting though. How can one get into it / find out some basics? :)
 
Alibi said:
I work full time (I have my own firm) but also have built up a portfolio and am looking to being able to retire on it within the next 18 months if things continue in the way that is anticipated or my particular shares. I'd say spread betting is a bit risky as you could get caught out on margin if you go in too deep. Maybe a split between investing, trading and spreadbetting would be more sensible. And buy a shedload of Gulf Keystone Petroleum asap...
Click to expand...

Ha, with regards to GKP i have a **** load from 26p !! ( loving the fact the blown thru 130p today, you must be chuffed also !!)

oh and by the way, i decided to can the job offer and am now a 100% full time bonafide trader

happy days so far
 
Gilly said:
Ha, with regards to GKP i have a **** load from 26p !! ( loving the fact the blown thru 130p today, you must be chuffed also !!)

oh and by the way, i decided to can the job offer and am now a 100% full time bonafide trader

happy days so far
Click to expand...

Good lad! Takes balls to do it, but i'm sure you'll reap the rewards! I have no idea about stuff like this, but hope to one day learn.
 
Cool, trade away imho, build up funds quicker that way.
 
Only you can make the choice. Whatever other people think is irrelevant, go with what feels right to you or you could regret it further down the line.

Good luck whichever way you decide to go!
 
mitch78 said:
Only you can make the choice. Whatever other people think is irrelevant
Click to expand...

Theres nowt wrong with learning from other peoples experiences and mistakes especially when it comes to dealing with stocks and investments....
 
I never said there was anything wrong with it, but there are a lot of people that do very well with stocks and a lot that do very badly. Nobody knows how well they'll do, that's the point. Only he knows whether it's a risk he wants to take; whether he'd regret doing it if it failed; or whether he'd regret not doing it if he took the job. No amount of people saying "I think you should/shouldn't do it" is going to change that.

I was in a similar situation recently, got offered a very well paid senior management role in a software development company, not long after setting up my own company. I decided not to take it, as I'd always be wondering if I could have made it on my own rather than jumping in at a high level with someone else's company. Getting all the advice in the world wouldn't have changed the fact that I would always have been wondering about going it alone. If my company doesn't end up the size their's is, it won't kill me, neither will it kill me if it fails completely, at least I've tried.

All I'm trying to say is that only he knows how he truly feels about the risk.
 
going well so far fella's...glad i decided to can the 9-5...risky business but no more so than setting up own business imo, unless you go at share dealing with no idea what your doing hoping for quick wins...quick road to the poor house

I wouldnt say other peoples opinions are pointless tho...obviously i wasnt looking for someone to make the decision for me...just good sometimes to have views from people completely impartial with no emotive attachment, to help ones self bring out the pro's and cons :)
 
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