My comments about complaining were not aimed at anyone on this board...but more to a handful of our own traders who seem to be stuck "in the nineties" (for lack of a better phrase). Trading is certainly not "rosy" for everyone, and I will never say that it is...we are just fortunate to have a good group of traders who do pretty well. We try hard to keep our traders in the "here and now" - with constant monitoring and the throwing out of new and different ideas and strategies. After about a year or so, most traders have gotten to a point where they know enough to make a good personal evaluation of their trading abilities, and their chances for success. Just wanted to clear the air about my prior comments!!
traderjimbo, Thanks for sharing your experience with us. Most here are just starting out or only part of the way there. It's encouraging to hear from someone who has made it. Best Regards Rigel
There is no way Don is going to give out the real stats, Bright's bread and butter is about sucker people in with their 25K's and if he is telling the truth then there wouldn't be a business. Then again, Worldco recruiters are no matter when it comes to this, it is all business. This is why I try to be different even if at risk of losing potential victims I mean teammates. Everyone who ever e-mailed me about trading at Worldco know that the first thing I talk about is that yes, there is a real chance that you can waste an entire year here at Worldco for absolutely nothing. When they actually come here for the interview, I will show them the P&L of a trader who is losing money every single day for the past several months, and I tell them there is a 50% chance that they will end up like that. I then show them my own P&L, and tell them there is a 30% chance that they will end up like that. Finally, I show them the P&L of a high six figures / seven figures performer, and I tell them there is less than 10% chance for them to end up like that. And I explain to them that everyone is wired differently, and while I will teach all the mechanical knowledge there is, it is impossible to predict what will happen to you other than the probabilities. Those that really really really really want it will sign up, and those are the guys I want on my team. Most will think about it, then some come back, some don't. The way I see it is, why lie to the guy and bring someone who is going to churn a loss then leave? Make sure he understand the RISK and the simple truth that this is the hardest job on this planet, and if he still wants it, I will lay out red carpet for a guy like that. Now for your situation: Since you already wasted six months for nothing, you may as well give it until the end of the year, stop thinking about whether this is for you, whether you can do it or not, whether you can make whatever you made before (the truth is of course, if you made much more than 100K a year the odds are stacked against you that you can make more than that doing this). When you are thinking about your backup plan, you are not playing the game with passion. When I started at Worldco I quit my job as soon as I passed Series 7, and whether it was immaturity or not, I burnt all bridges to make sure I have no backup plan, while it wasn't the kind of job you left, for a 20 years old 55K was a lot of money. I threw my MCSE/CCNA certifications in the trash can, checked to make sure that I had one full year's worth of living expenses, and basically said if I don't make money in six months I will find a part time job to extend this as much as possible, that I will NOT think about what I will do if I fail as a trader UNTIL I RAN OUT OF MY LAST BULLET. I knew that to compete with the ivy leaguer who was her prince in career, this was my only route. Obviously you can not and should not do what I did, and I have to admit along the way I too had many many doubts, but every morning when I woke up there was still this hunger in me that said I WANT IT, regardless of what happened the day before. My point is, follow your heart, NOT YOUR BRAIN, give it until the end of the year, so that if you do quit, you will never, ever look back. No regret, no mercy, just do it.
Well, good for you. I'm glad that it's all working out for you. But what's your definition of tons of $$$? You don't have to answer if you don't feel like it. trader99
lemme guess: you're buying NVDA at its bottom everyday and selling at the top (or selling short at top and covering at bottom) am I right?
There is no way Don is going to give out the real stats, Bright's bread and butter is about sucker people in with their 25K's and if he is telling the truth then there wouldn't be a business. Then again, Worldco recruiters are no matter when it comes to this, it is all business. This is why I try to be different even if at risk of losing potential victims I mean teammates. This is so tiring.
If I remember correctly, you didn't quite burn all your bridges, since you were living with your parents. And if I'm not mistaken, you are still living with your parents to this day? I think you've mentioned that you pay them some rent, but surely that's not even close to the same overhead as having your own apartment in Manhattan. Not everyone's parents live in N.Y. so they don't have that option....nor might they want to continue living with them anyway. :eek:
Well, I moved back home AFTER I decided that I wanted to do this. And I am very close to buying something soon thanks to that temporary compromise, I would say it was a solid strategic move.