is becoming a full time trader , a good idea?

<p id="isPasted">Becoming a full-time trader can be a highly rewarding career for a small percentage of people, offering financial independence and flexibility, but it is an extremely challenging and high-risk endeavor with a very high failure rate for most retail traders. Over 80% of day traders quit within the first two years, and only about 1% are consistently profitable net of fees. It is generally not a good idea to pursue without significant preparation and capital.&nbsp;</p><p><strong>Key Insights</strong></p><ul><li>High Risk of Failure: The vast majority of individual traders lose money, with some estimates suggesting over 95% of day traders end up with losses.</li><li>Significant Capital Required: Experts suggest having substantial capital (potentially upwards of $200,000 for trading capital, expenses, and a financial cushion for 12-18 months of living costs) separate from your personal savings to withstand inevitable losses and market downturns. Trading with "scared money" can lead to poor decisions.</li><li>Psychological Demands: Trading is a mental game requiring extreme emotional discipline, patience, and resilience to manage fear, greed, and the stress of income uncertainty. Many traders struggle with emotional pitfalls like "revenge trading" or holding losing positions for too long.</li><li>Intense Competition: Individual traders compete against highly sophisticated algorithms and institutional players with massive resources and high-frequency trading systems, making it difficult to gain an edge.</li><li>Continuous Learning and Hard Work: Success requires a deep understanding of market dynamics, continuous learning, and the development and strict adherence to a proven trading plan and robust risk management strategies.</li><li>Lack of Job Security &amp; Benefits: As an independent trader, you will not have a steady paycheck, health insurance, or retirement benefits provided by an employer. You are responsible for all your financial planning and well-being. </li></ul>