How many of the ETer are good enough to get OPM run a fund and make millions? I don't know any. By the way, you don't need to amass $100 M to live well.
I wish I can help but sorry I can't. I am just an amateur retail. Never worked in the financial business, IB, hedge funds, banks... I started out with nothing, no clue about trading/investing except the concept of live below your means. I was able to quit my day job early because of the magic of compounding. So I am telling you the one path that worked for me and my kids. The only OPM I know are friends and family but I do not want to risk their money so always refused their requests, except my kids'. To each his own and I sincerely hope you will find your pot of gold at the end of the rainbow. Good luck.
join a prop firm that will front all or some of the capital for you to trade. You will be paid a percentage of your earnings. You have to be hired first. You have to follow their risk management rules.
Yes so. This IS where I wanted to go? What do you know about this process of getting hired but these firms? Thanks! I need to evaluate
the forum is full of threads about this topic. there are two types of firms: those that require you to post capital and those that don’t. This forum’s topics typically focus on the former as the latter typically requires experience (trading for a bank, hedge fund) or a newly minted college degree from a target school (like Harvard or Columbia). do a search for prop firms and you see get a ton of info.
I have no idea how good people here are at trading. But getting OPM is all about networking and sales skills. My track record isn't smooth enough to attract investors and frankly I don't have the pedigree to get me into a hedge fund position. I would absolutely like to have a 2/20 deal with some OPM though.
Reading "Pit Bull" by Marty - Buzzy - Schwartz dissuaded me of that thought. I always sleep well at night.
You are an honest man. I respect that. However, managing OPM is not a bed of roses and a money printing machine. My sense is in a hedge fund, only a very few partners get most of the pie, the rest of them are not that different than us, working a day job. On top of that, you have high carrying (living) cost, you can't drive a clunker, dress like a hobo and live in a trailer home, so it is hard to live below your means. Trust me, if you truly have an edge, you don't need OPM Never mind, few understand my points....
Me too, until I started day trading intraday. Now I have bad dreams about losing my shirt day trading.