Hi,
Is there anyone on here who is a full time private investor? If so how are you doing with it? What is the minimum amount of cash that you play with? Is it even possible to pay the bills as a profession? I'm looking at it as a possibility but would like to hear views/advice first.
Cheers,
Bisc.

I read some where that the average day trader lasts 6 months before going back to work. I also read that starting with less than 50,000 of risk money won't allow you to take large enough positions to overcome the friction of doing business - broker charges, spreads etc.

Testing your ideas before trading is an excellent idea, although trading with real money is a completely different mindset.

Where it comes to CGT, my understanding is that this is taxed as the top slice of income. If you are not earning elsewhere you will be taxed on your capital gains on the same sliding scale as your income.

Alternatively you may establish an offshore investment company through which you can conduct your trades. You will still be liable for UK taxation on profits remited to the UK but you have more choice as to timing.

Using a good broker should allow you to continue in your own job while receiving advice and also have someone who can follow the market for you while you are away.

If you are serious, you may wish to consider (1) taking a course with, say, BPP Hyperion, then sitting one of the securities institute exams. They may not teach you a trading strategy but you will have a much much better idea of how the markets work. (5 day courses, exams monthly, about 500gbp). No, I don't work for BPP.

Finally, if you pass the course, apply for a job at a brokers as an assistant to a dealer or a position keeper on a trading desk. Most are coming out of the doldrums and a qualified enthusiastic individual should find a good home. From there you will get more experience, get cheap trading, be surrounded by people who can validate your trading ideas, and maybe even get paid

Good luck !