Tell your friend to give me the 250k. I will lose it for him in a week. Then he can go back to his job and not have this dilema hanging over his head. No charge.
Listen I was skeptic of Speakingout's friend existing as well but after reading what you just wrote I can see that I am way off base to be in your camp. You just told the world that this guy Anthony could not have made 15k into 250k trading because he has the nerve to getting advice from newbies on a public forum. This guy Anthony didnt come here looking for trading advice on picks to make money he is looking for the diversified opinions that one can find here regarding account size where else should he look, should he take a print ad out in the N.Y. Times or run a poll on CNN? So what your saying then is that ET is full of newbies and liars that say they trade or have experience in trading issues but do not. However what makes me sick about you now is that you started out with your first post ever on ET by asking advice about if you filed bankruptcy how would that effect your liscences. You started out that thread by (your very first post to ET ever mind you) by saying verbatum " To anyone that would know or give me an idea:" So you all mighty Mecro came to a public forum seeking advice about a related trading issue just like this guy Anthony? However I don't see you chastising yourself for doing the same exact thing as Anthony. You're Just so busted in my book! Moreover you wanted advice on filing bankruptcy which means your broke, insolvent, washed up. So you obviously are not trading with any capital base worth squat. You talked about being in bad credit card debt as well it goes on and on! Yet you come here to pretend your the trading man who can judge whether a guy like Anthony is real or not? I am sorry but I am in no way going to be associated on this thread as being in the same category aka a troll with the likes of you. Someone on this thread said it plainly: whether or not Anthony is real or fake its of no consequence because the advice is "real" and this is what matters for those who are reading it now and in the future if they are in the same situation. I apologize to Speakingout for any doubts or trouble I caused this thread by going off topic with my earlier posts. (I mean this sincerly this time no saracasm). I realize after seeing the background of an actual troll figure as ET calls them, such as Mecro that I can't start my time on ET being associated with that kind of sort. Great thread by the way, this thread is perhaps the most informative and entertaining at the same time that I have read on ET in my one month lurking around these parts. I will be recommending ET as a site for my friends to read because of threads like these.
you see darling, I was right about this place... see! There is the Mad Hatter, over there is the Cheshire Cat and Alice... and here comes the Easter Bunny being chased by Santa Clause ... and oh my, there is that honest lawyer!!! and the plot thickens...
This thread for the most part has been informative and allowed for some good discussion about a decision that plagues the idea of many that trade full time. That simply is it worth trading for yourself if you are just making enough to pay your bills when you can just go in to your career and work for a corporation. Earn a salary, trade on the side, with todays technology this is probably not a problem. I mean I ask myself the question sometimes as well and I'm not broke: Can I keep trading full time for the next 30 years or will I burn out by not being with other people as a work place allows that social interaction. What if I make a major error and slip up in my trading and blow my trading capital? (Not likely to happen as I keep my capital pretty well diversified in terms of safteys and within parameters of allocation). However what if it were to happen? Would I be so far removed in terms of years from the career I left that I could never get back in? Would I have to take a grocery job at a supermarket? G-d forbid. Lots of questions and thoughts that come in to the mind of the full time trading from time to time no matter how much money you have in your account. My advice to you Anthony is that its great to see that your prudence is allowing yourself to search for these answers, however, the same questions will haunt you always even if you quadruple your money. So take a chance: live once and go do it! If you mess up you can go back and at least say you tried. I say this to you because like I mentioned in my earlier post to this thread you seem to not be a fool with his money in the first place so I trust you will know when to say Uncle. Very good thread so far the last couple of days. I have been enjoying the back and forth action and great comments.
Tell your friend diversify 250k by opening account with multiple cta or managed accounts ( three each 50k fund in noncorrelated system). Trust these managers completely after due sorting (drawdown will happen inevitably, but do not worry). With the left over 100k, he continues to swing trade. Also, tell him to keep the job next three to five years, then he can go into full time trade and not worry about where the money is coming from for living. Goodluck.
Does the decision really have to be trading vs. regular career? What about keeping a day job and trading markets that are active during different hours? The Asian & Australian markets come online in the evenings. The European markets come online early in the mornings. You don't have to trade the entire session. Alternatively, find a second-shift job and trade US markets during the morning. This is easier if you have a profession which is suitable for second-shifts, but perhaps you might switch to a 24x7 industry (i.e. hospitals) for a shift-work opportunity? Granted, this is like trying to work and go to college at the same time, which ain't easy.
OMG you are gonna bring up my ever first post which is like a year old? Yeah ok. I'm sorry, but apprently in your world, people do not go through some serious drawdowns in their life. Yeah I'll admit it I was in a real bad position when I made that post, but thats nothing to the personal hell I have went through only a fe wmonths after that. Look I do not even need to claim whether I can trade or not cause I do not give one fuck about proving anything to anyone on this board. The money I make everyday proves it more than enough to myself, which is all that really matters. This thread is great because it truly shows how many of the ET members truly have no clue about real trading. It's not whether this Anthony exists, I know that there are people out there that have had even more amazing results. It's the fact that anyone with such success and experience (8 years!!) would not be asking about career choices on ET, through a friend, nevertheless. The question itself is so damn simple for anyone who has 8 years experience trading. It's all about risk/reward and any real trader can decide on his/her own by simply looking over the facts. Anytime one of these super duper traders comes to this site and ask for career advice, it's so funny to me how many people fall for it. Christ, I was not even trading back then and I quickly figured out that I could not get any real career advice from ET. Oh and if this whole "friend" situation is for real, my advice to him is to keep his day job. He is gonna need it if he can't figure out this question on his own.
What I would not give for a 250K account. Tell your friend that trading is based on making decisions. If he has problems in that area, then he should perhaps keep his employment and trade on the side. All the same, good profits to him.
Hey Mecro, yes people do go through serious drawdowns, and financial difficulties are not a matter to make fun of, I hope you have settled your debts properly and are solvent again. You did come to ET though and ask this board what the ramifications of a judgement (bankruptcy) would be to your liscencing history. So you came to a message board that is devoted to trading (ET) for the reason of asking a trading related question. Yet you then in turn chastise this Anthony fellow and Speakingout for doing the same exact thing, it's amazing how you decide to overtly ignore this fact (in a public forum) and continue on with the same rhetoric. Where should they go to get an instant opinion from a diverse group of individuals around the world about trading? The weight watchers message boards perhaps? Come on Mecro you cant be that silly and continue to play the hypocrite on this thread. Either way, you admit that your were not trading back then so I will assume you just began recently because you were insolvent just a year ago, so you probably don't make much money in terms of absolute amounts figuring that your account would be of piker size only.As for your statements that most dont trade on ET, I would say you are most likely correct. Considering the statistics of how many traders lose money its most likely the smartest thing you have said in this thread so far. I still stand by the fact that the prudence shown by this fellow Anthony who has taken 8 years to cultivate his account to the size it is now lends credence to the fact that he would not be the type of person to simply ignore a resource such as ET just for the simple ability to hear opinions. Its a move that costs the man nothing, he doesn't sound like some rash fool who will base his final decision on anyone poster's opinion here and I am sure speakingout has made it quite clear to Anthony the frame of reference from which most of the advice comes from here on ET. Give Anthony the credit he deserves for gods sake the man has 250k and is not declaring bankruptcy. He obviously has better financial decision making skills then someone who would end up in bankruptcy or close to utilizing it as an option for whatever reason. Furthermore, the fact is that you come to ET and post 555+ times, 3+ times per day in fact so ask yourself why you are here for if your not interested in participating in trading related discussions? Are you just bored so you feel posting here 3 times per day is your entertainment for these people you consider beneath your "financial" and "trading" prowess? I say this not to "egg" you on but for you to take a really hard look in the mirror at yourself so that you will hopefully overcome your demons and be a better person and a better trader for it. Mecro God Bless you and God Speed my friend.
Hi folks, this has been an incredible thread over the few days. Much appreciation once again for those who have participated and kept this thread on track and running smoothly. Anthony, after reading all the skepticism about whether he actually had taken his account to 250K+ gave it some thought, and decided to put together this gif of his november statement that he wants me to post on the thread. Its his way of saying thank you for those who took the time to respond and to put to rest anymore off thread bickering regarding his legitimacy. The amount is almost 280K like I said when I opened this thread he has 250K for trading and almost 30k of this account he will seperate for bills. Anyway here is the file: