Falling off the Cliff.

I have a message from Gaurav whome I met in Chennai and Bangalore. Gaurav has an excellent job. But he is fond of trading.This is what he writes:

“One of my friends brother is an arbitrager for last 10 years.He told me that he can arrange a trading job but first 3 months I have to just monitor may be they will give me 5000 to 7000.And I am OK with that because may be after 6 months I can get a salary of 12-15K which is 50% of my current salary,but still I will be happy with that.And simultaneously I will trade for my own account”

My Notes:
Have you actually seen someone fall off a cliff? Not in movies, but in real life. Well my friend Gaurav may well be planning to do so.
Arbitrage is very different from the kind of trading that thrills traders. Second, trading on your own account simply increases the risks without any reward. The reward comes to experienced, risk understanding traders. Leaving your job to trade is hardly risk understanding.

This topic had come up earlier also. My advice is:

Do NOT leave your job. Learn to enjoy what you are doing. Please do not track the markets during your work hours. Practice trading on end of day charts. Do this in your free time. Once you feel confident in your paper trades, go ahead and take actual trades on an end of day basis. When you start seeing the results of your learning, then plan to be a full time trader.