Don't get touchy DHOHHI. Lets just say by your own reasoning if you have far less capital then this guy Anthony who Speakingout is talking about then how is it ok for you to breakeven after playing the market full time when paying off your bills and not acceptable for him. Yes I am assuming your breaking even. If i assume your not breaking even then this guy Anthony with his 8 years of experience trading has far more capital then you and according to what you said he would only need a fraction of that amount to make much more than 75k as you infer that you do. So which is it you can't play it on both sides of the fence!
Did I say I break even? No ... I take money out of the market each year and start a new year with my basic trading amount (of $70K). And I didn't say I have less capital than Anthony. I have a smaller trading account (by choice). And the rest is rolled into longer term "investments" in the market and also into real estate. It was stated the guy started with $15K 8 years ago .. and now it's $250K. If true, that's about a 43% annualized return. And as far as him making more than $75K ... if he continued with a 43% return that would be just under $110K and that amount would allow him to have something left after taxes and expenses.
Hey Trade4dollars thks for trying to be helpful. However this is only your 4th pos on this site and I wouldn't start going against guys who have been around here alot longer if you want to make friends. The advice that DHOHHI is giving is sound why dimiss it as offhanded? He is stating a fudamental truth that to be honest really is part of the reason why my friend has stayed at his current job for 8 years now and not jumped into it fulltime as of yet. While it can be said that Anthony is not getting any younger so if if he is ever going to go out and make a try of it on his own it should be sooner than later when he does have even more expenses to deal with. (aka kids etc). DHOHHI you also make a great point that at his current rate of return he should be able to eclipse 75K gross for the year, especially if he is watching more realtime trading signals. I would venture to guess thats why we all trade full time and dont hold down another job while trading. So once again Trade4dollars chill out yourself and don't put down others here because you never know where the best advice will come from.
By the way guys I spoke with my friend just about a half hour ago. He looked over the posts on his lunch break. After reading the posts he tells me that he already had his mind made up in the direction he wanted to go in. He wanted me to say thanks to everybody who took time too reply. He told me to let ET know that his decision is to start trading full time. He says he will be giving he 2 weeks notice beginning on March 1st. Giving himself enough time to set up his home office and begin trading by mid march. Thats about it then my work for him is done. Next time I will tell him to open up his own thread LOL. Just kidding I was glad to help him out. Wish Anthony Good Luck!
Tell him to start a journal I'm sure many in here that criticized him and you for this post could use the help....lol When your making money your happy when your not your usually looking for company. As independent traders where all on the same team and constructive criticism is the only thing necessary.
My advice. Ask your friend how much captial he would need to AVERAGE $75K a year according to his current track record, and taking into account smaller returns with a larger account. He may quit his job when he has DOUBLE that amount. This way, he only needs to perform at HALF his previous level to make the same amount (under trading pressure) Another point.... if he doesnt HATE his job, why in the world quit if he is on track to make millions over the next several years? peace axeman
I guess in reverse most can ask themselves why in the world are they still not getting a full time job when they are on track to make nothing or lose all their money in the next several years?
Truthfully Mecro can I ask you too elaborate on why its a b.s. thread? Do you have more than just curse words to throw out or is there something you really have to say? Thanks.