If there's one thing I really don't care about... it's soybean futures.
I don't like soy milk. I don't like soy protein. And I don't like soybean futures.
But I'm on Barchart.com's email list... so they send me a newsletter every day before the market opens.
Yesterday's topic was soybean futures. So I closed the email before getting past the first paragraph.
And this isn't really about soybeans... but there is a lesson here.
You see I get this question a lot...
“Should I quit my job to trade full time?”
And 99% of the time my answer is no.
Which may be surprising, seeing as I literally talk about this stuff for a living...
But allow me to explain...
Of course... trading full time sounds amazing... in theory.
Work from anywhere... no boss to answer to... make money for yourself rather than for a faceless corporation...
But the reality doesn't match up.
Because when trading becomes your only source of income, every loss is amplified.
Every bad day threatens your ability to pay your mortgage... and every drawdown makes you question your entire life choices...
The emotional pressure is crushing.
And over the years... I’ve watched dozens of people quit their jobs to trade full-time... and most of them end up worse off than when they started.
Not because they’re bad traders (although some certainly were)...
Instead the psychological pressure of needing to make money every month destroys their decision-making process.
Many started taking bigger risks to generate more income...
Others threw their strategy out the window as soon as one little thing didn't go to plan...
Now compare that to someone who trades part-time while keeping their day job... or as just part of their retirement income.
They can afford to be patient and wait for the right opportunities.
They can cut work through slower periods because their entire livelihood doesn’t depend on the next trade.
And they have the luxury of thinking long-term instead of needing to generate income this week.
This is why I focus on systems and frameworks that require minimal time commitment.
You’re not staring at charts all day... or trying to figure the perfect strategy for SOYBEANS or whatever the trading websites tell you is hot right now.
And that's why most successful investors I know treat investing and trading as part of their lifestyle... not their entire existence.
That’s the model you should follow.
Because trading and investing should enhance your life, not consume it.
So your goal shouldn't be to become a full-time trader but to build wealth and cash flow efficiently so you can spend your time on things that actually matter.
Family. Health. Hobbies. Travel. Whatever brings you joy.
Money is a tool, not a purpose... so don’t let the pursuit of it take over your entire existence.
Oliver