You may have seen a tweet I made the other day regarding my work status. To cut a long story short, the last long term and major client I had has decided to seek IT support elsewhere and has terminated our business relationship essentially making me unemployed. Whilst that causes initial financial concern in the short term it is something of a blessing in disguise.
I've been running my own IT support business since 1993 but the last 8-10 years have been an ever increasing struggle. My heart simply wasn't in it any more but given the amount of work that that firm gave me, combined with the freedom I had, it was difficult to turn it down and close the business. That decision has now been made for me.
I need to decide what to do with my life now. The obvious thing would be to go full time trading. You'd think anyway. The trouble is, as I've stated many times on this blog in the past, I've never had the inclination to do so. Indeed, even as a part time hobby I frequently get bored with the whole process and have been known to take frequent prolonged breaks from trading.
I'm in the fortunate position that I do not need a lot of money. The mortgage and car are paid for; the kids have left home and I have no debts. I've always lived a fairly frugal existence. I can live on less than £800 a month which covers all my utilities, day-to-day motoring costs and groceries.
That £800 boils down to £40 per day, Monday through to Friday. Surely even I should be able to achieve that! I simply need to do what I normally do but with a professional mindset and not that of a hobbiest.
So I've decided, for the moment, to take the semi-professional route - starting tomorrow, 1st Sept. Mornings will be spent applying for full time work and afternoons will be spent in the horse racing markets looking to replace the money I'll lose by winding up my business.
This will be a huge leap for me so if anyone out there who has made that psychological leap into professional trading please feel free to offer any advice.