"I would give up a 90k job to make even 70k trading. That's how much I despise working for someone else. Just buy less stuff and live more peaceful." I use to think that, but sometimes I know feel that making 6 digits DOES NOT sound better than $90,000 for someone else........ Because it is not more peaceful
you guys are getting way too bent out of shape for what I wrote. I am NOT trying to belittle anybody. What is everyone so damn defensive for?
no problem sdtrader, Ever since I started there was always someone telling me I couldn't do it, and I never want to be one of those negative people. Yes, I agree, people can and do make staggering amounts of money trading. And some of those who make staggering amounts of money go through losing periods, and they talk about it here. Where the heck else are you going to talk about it? Nothing worse after a losing day than to have someone who knows you are a trader come up and say, "Boy, I bet you're happy. I hear the market was up a hundred points today!"
And some of those who make staggering amounts of money go through losing periods, and they talk about it here. Where the heck else are you going to talk about it? Nothing worse after a losing day than to have someone who knows you are a trader come up and say, "Boy, I bet you're happy. I hear the market was up a hundred points today!" I agree. My experience has been that generally good traders that are net positive tend to harp on their bad experiences (losses) and not say anything on their good and average days. After all you learn more from losses than you do from gains and they also stick out more. I think that profitseers numbers of 1% a day are doable and I agree that it is hard to be that consistent that you can have 60% quarter to quarter. My daily goal is $1000 but I am happy to have $500 at the end of the day. However on average I don't make even close to 5k a week. I think that since this is a public board, there are going to be all sorts - people who make 2k per day and people who make $200 a day as well as many people that are trying to learn and don't know much about trading. I think that what sdtrader is trying to say is that you can't tell from the posts who is who. Who is the person who makes a consistent living doing this and who is the person who is "paper trading" and posting their comments. Since the people that are turning the corner and becoming profitable would like to learn more from the traders that are "hitting it" it would be great to know who is really hitting the ball out of the park. At my firm, there is a prop traders who make 20k to 40k per month - with 50k equity and has not had a losing month in over 2 years so obviously it is doable. The question is how to get to the point where you are the trader that is "hitting the ball out of the park. Happy trading.
In and Long not so sure of the majority of the board but SD_trader sit directly behind me and I can vouch for his P&L rather easily. Robert Tharp
actually no as he is able to scalp a small amount of shares each day. SD_Trader does well but he lives off his account and sweeps his profits monthly. He can scalp 500-2000 shares in and out all day long. trying to scalp 50,000 shares isn't really possible. Robert Tharp
The great thing about Prop/Professional trade other people's money if you can prove to yourself you are consistent Robert
Well then let me be the first to say the exact opposite YOU CAN DO IT! work with successful people, have rock solid discipline, and a goal to succeed no matter what Hope that helps Robert T