Better System Trader

092: Trading for a Living with Nick Radge

May 4, 2017
Nick Radge, an experienced trader and author, shares advice on trading for a living. He discusses the challenges faced by full-time traders, the importance of diversifying strategies and managing finances. He also addresses the challenges of low starting capital and high commissions in trading.
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ANECDOTE

Jerry Parker's Example

  • Even renowned traders like Jerry Parker have diverse income streams.
  • Parker manages funds, demonstrating how "full-time trading" can involve other businesses.
ADVICE

3x Income Rule

  • Aim to earn three times your current income through trading for at least three years before going full-time.
  • This advice offers a simple benchmark, though individual circumstances vary.
INSIGHT

Individual Circumstances

  • Transitioning to full-time trading depends on individual factors like age, lifestyle, and existing commitments.
  • A 22-year-old living with parents has different considerations than a 35-year-old with a family.
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