I was under the impression that a good trader would pull in 100k /year min. To net at least 8500/mo. is not that difficult IMO. But then I was turned on to this site......... And all I have heard is how it is so hard to make money. Specialists are crooks. So the question you pose is a real good one. I would love to know what kind of money posters on this site are pulling down. It would be helpful to know who is all talk and who actually pulls in some cash.
Winning traders are too exhausted from battle to post here. What you see are the ramblings of wannbees and other detritis that spills over from the once vibrant Raging Bull and Yahoo boards.
stock777. You have been around long enough to know who makes money. Is there anyone on this site that is worth listening to? I at first thought I would be speaking to my equals (in income) but more and more it just seems like this board is full of people that like to think they are smart......but dont make any money.
I like the part where CBS made sure to include that Co-op Board for purchase of a home turned him down because he was a Daytrader they said something to the effect of no way.."Even though you made 25%" "yeah even though I made 25%"..... "So this 33 yr old well stay in his small 1 bedroom apt" Another attempt by the media to sabotage the daytrader... All I can say is thank God for daytrading or I would be wiped out, bankrupt If I had held on to my so called "long-term" holdings... I wish I would have daytraded more..
And what's with the headset? We all have fones to back up our online trades but a headset? This whole story smacks of bullshit. Sitting on hold for 10 minutes during a scalp hardly justifies saddling yourself with a headset . . .. oh wait. He makes all of 25% a year.
I think he used the headset to communicate with another trader not his broker.... I know many traders that go into conference on the phone and wear headsets.. I think they did a decent job on the story.. Firstly, they showed a profitable guy not 90% of the other losers.. the guy was trading from home not some BS prop firm... --MIKE
I have no idea who makes money here. I'm sure there are many. Claims of $5000 a week, or even a day are not hard to find. True? Who knows.
A coupla years ago the local news did a story on an office where I used to trade and I was actually shown. But it wasn't 15 minutes of fame. More like 2 seconds. And they had to talk me into that, as I don't like attention. <font size =1>so why am I telling you this? I guess it's sort of <i> on topic.</i></font>
There was a poll several weeks ago about how much people make. Whether or not it was answered honestly I don't know. You might look there sdtrader. I'm curious if you have found a site that is consistently visited by traders you feel are your contemporaries. I have to laugh a bit because if not, does that mean that in your opinion you are the most erudite and skilled trader you know? Having looked at a large amount of the available information on the internet and in books, it seems that the vast majority of traders fall within certain characteristics. I haven't seen a newsletter or book or seminar offer or website that says "Not for the average trader". But hey, maybe I'm not worthy of the offers that do, or privvy to the websites that do. That's okay. As long as I can pay the bills, take some vacations, and grow the account, I'll stick with the regular guys. Of course I am game, and fairly well educated. If there is a topic you would like to discuss and you are looking for some spirited affirmation or debate, I'm here for you. I can think of some other guys here who can hold there own as well. What's on your mind sdtrader? Let's go!