£800k to invest

IQ doesn't matter if you're smart enough to hire people that have theirs higher than yours!

 

He's the only trader, other than two execution-traders. 15-person shop and 600-million in aum.

 

In my modest opinion day trading is one of the hardest ways to trade

http://www.elitetrader.com/vb/showthread.php?s=&threadid=194342


Does not mean it can not be done, but with your capital there are other trading styles you might consider for example with trend following and/or options selling you do NOT have to predict where the market will move.


It might take several years before you find a trading style that best suit you and before you can can trade consistently.

If you can stay flat as you go through your learning curve it is only a matter of time before you will make money

 

Main event or not....still remarkable...

Many of the pro's on TV I mentioned earlier would love to finish top 10, even in the side events, as they are huge as well (thousands of people, as you sure know).......

In any case, I will drop it.

 

Wow, thanks. Dodged the bullet on that one!

 

1) Ok so would you be willing to give me some further advice on how options selling works and why no predictions have to be made (is it based on the fundamentals in the market?)

2) Also, I suppose this is a question similar to how long is a piece of string:

But what percentage annual return from options selling would be considered achievable for a novice trader with an 800k fund?

3) Finally is there a course such as Don Bright's that you would recommend I join to increase knowledge?

 

In my first $300 NL tourney I entered at Commerce I finished 18th, got knocked out by David the Dragon Pham, and made about $440 bucks profit...That was in 2002 or 2003...

 

Take 10% of that 800K and start there, if you can make it with that 80 thousand you can probably start uping the ante and using more of your money/leverage. Having kids and a wife, you probably want to keep 700K or so sitting around as "just incase money". You obviously have the work ethic so I would say go for it and best of luck

 

I like the Commerce. He's quite a player with 8 or more final tables in WSOP.

 

Peters -

I have a ton of useful pdf books, they'll make sure you don't blow up, I hope. PM me.

You could do worse things with your money, like open a nite club, a restaurant, buy a piece of property in the UK... etc..

Any skill acquired can be a skill you use in other areas. Just be sure its a skill based on ongoing reality rather than transitory and tenuous things, which is especially true in trading.