2-3 years. To me, that begins to define a trader. Anything less is a wannabe. And yes, I'm still waiting for someone to step forward and define themselves as a successful prop trader. Too much to ask for on a site that has become nothing more than a promotional platform for vendors.
Gee you can try GOING THERE and talking to some real life quality traders instead of sitting in your parents' basement simering in your own jealousy and trying convince yourself that every single prop trader is a complete loser. Or you can use the search function and check out Diamondtrim's threads where traders posted their real P&Ls. He has a recent one in Journals right now, not that hard to find when you don't have a selective reading problem.
I know lots of "long-term", which I consider over 5 years in this business, profitable traders. They just don't post on ET.
So your basis is that since you haven't seen anyone post their long-term successes on this particular board among the hundreds of boards available, that prop must nit be worthy. IS that the point you're trying to make?
you have got to be kidding me prop is tough but there are plenty of money to be had in futures, fx, and options?!? lol
I served 6 years in the Marine Corps. 4 on Active 2 on Reserve. I've been shot at in Kosovo, broke my right leg on a joint training exercise with the troops of 3 other nations, and was part of the small group of marines that trained the South African army. And I can say Trading is one of the toughest things I have ever done. Money is emotion and keeping your emotions in check, whether in a firefight or in a sizeable position is very tough. Not the same animal, but there are definitely parallels between the two.
I, too, was in the Marine Corps...and it was from 1969-1975... primarily reserves (we had an extended active duty time because our units (S2/S3, intelligence and supply) were needed to train those going over the Viet Nam. I will say upfront that I did not go overseas, and yet, even in training exercises I saw a lot of young guys dying, and it was because of these experiences that I prefer the US "opt out" of engaging in wars of any kind.....while respecting those who go to the front lines (regardless of geo-political reasons for doing so). I actually use some of my USMC training when conducting the trading boot camps..."break em' down, build them up a bit smarter" - and I do my best to lead by example. No one should listen to a drill sergeant who is not "walking the walk" so to speak. Back to topic: Yes, I am on this board a lot, trying to help those who are really seeking some "enlightenment" about the field of trading...and, yes, I think that BT offers the single best opportunity to succeed in the very tough business....and I make no apologies to anyone for my dedication to what I do, period. Sure prop trading, in any form is tough..as is being a Specialist, a fund manager, or any successful venture, whether trading related or not. Not everyone is cut out for this business, and that is why only the few survive and thrive....and, whether they choose to post on this or any other board is their business....and, I chose not to "enlist" the support of my successful traders, who would actually prefer that I don't add to their competition. bit this is still the America that grew up in, and opportunities avail themselves to those who choose to engage in whatever endeavor pleases them..... ....and, I, at the same time, do my best to alert the uninitated of the dangers of certain markets and practices...."if it seems too good to be true, obviously it is"...and you will never see me on TV with "traders" saying that they made $25,000 in one day of trading (pick one)."forex, buy green sell red, "teach me to...." etc. We are a firm of good traders, with a proven track record, who are willing to allow new people to use our capital and tools. Nothing more, nothing less. (I apologize if the above seems like a "rant" - it may well be one, but hopefully just a minor one). Back to work, I havea room full of new recruits, 95% of whom made money today doing the opening only strategy. Back to you later, Don
Hydro, you crack me up. Why are you so hostile to everyone and assume that you know everything about trading? Your earlier post about hedge funds in this thread shows that you only have limited exposure to them, perhaps the traders in your office that run a fund can't trade. When you generalize all funds to be like this, you are showing your youthful ignorance.
Trading is difficult and most people don't have a clue how difficult it is. That's the point I was making. Nothing more nothing less.