Here is the list of 25 best paying jobs in the US . Almost half of the list is physicians of different types. Their average income is about 200k+ benefits. Let’s make it 230k a year.
After 4 years of pre-med, which is like a standard 4 year undergraduate degree, a person could spend about 40k (tuition + all other fees) per year attending a medical school. That will make the total costs around 160k before he/she can become a physician.
After 4 years of college education, with 160k as the trading stake, a person might be able to develop a system or perfect her trading skills before she burns all of the 160k. Even if she is close to burning the entire trading stake, as long as she can statistically prove she has a winning system (not a mechanical system), she will be on her merry way to beat any physician’s in the world. If you can make 30% a year with a 100k account consistently year over year no matter how the market behaves, you can do that easily with a million dollar account provided you trade liquid stocks.
Here is a list of things that day traders might beat physicians
- Day traders have more earning potentials than physicians
- Day traders have much more flexible working hours than physicians(odd hours)
- Day traders have a much better working environment than physicians(blood, broken bones, dying people..)
- Day traders have no bosses.
Here is a list of things that physicians might beat day traders
- After spending 160k in a medical school, a person is almost on her sure way to becoming a physician. Nevertheless, the aspiring day trader might never be able to develop or perfect her trading skills before she burns all the money
- Physician sounds like a more respectable profession than day trader since most people consider day traders as gamblers or people who just want easy money.
- Physician’s income is very stable. No matter how good a day trader you think you are, your earnings fluctuate.
- Day traders have more stress than physicians. No matter how experienced you are when a position moves against you, the fear sinks in. Experienced traders might shake it off more quickly than less experienced. But the stress is there.
If you ask me, the barrier of entry to becoming a successful day trader who can beat a physician is very high. That is why you can have an enormous reward if you can make it. But when we look around, there might be more physicians than successful day traders because day trading is just that hard.
But you really do not have to beat a physician to become a successful day trader. If you can produce an income that is comparable to what you can make now from your day job(lets say 50k), you should be proud of yourself. You are already a very successful day trader considering there are so many perks you can earn as a day trader.
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