Does the answer lie in fact as to why you want to a trader in the first place?
Often the question comes from the fact people can find some time being an employee. The other reason the question arises is from the fact people find making money from the market is very easy to substitute their income from the job from the market over time.
You aren’t alone, and when I started in 2007, I also did the same.
So let me share some point of views to help you decide.
From the Returns Point of View
Even before considering the time aspect, it is essential to consider the returns.
Are you a trader because of passion for being a trader or you want to be a trader because you want t make money from the market?
So if the answer to build wealth and make money from the market, you should be able to generate returns a lot more than being a passive investor in the market or at least more than investing in the equity mutual funds.
If you aren’t able to generate better returns being a full-time employee doing something, it is not advisable to indulge into being a trader and being actively into the market.
From Time Point of View
Coming back to your availability of time to be able to execute some trades in the market.
The fact of the matter is – making money from the market is not all about being able to find some time to be able to execute the trades.
No one on this planet can share tips to help you make money from the market. If you believe someone is in the market to help you make money in the 21st century, you are looking for someone on the wrong planet.
So if you have are verifying some stock tips and find one very reliable and want to put in those trades when the market opens and squaring off when the market closes to make a lot of money, you need a reality check.
If someone can make a return of 0.5% daily, in less than ten years, they can own more than what RBI has printed money till date. And no trader holds one-hundredth of it either.
From Mind Point of View
Trading is intuitive but to be a successful trader; you have to learn about technical analysis from books and then be a trader.
So, do you want to be blocking your mind into being a trader or you can find your availability of time to do something more than foraying into trading? Like being a freelancer or entrepreneur from being an employee.
When I was an employee, I prefer to work towards quitting my job (You can read about it on my other blog here) and be my boss. Now I mainly work for clients as a web developer from my home and maintain a couple of blogs for little passive income.