I started a internet company when I was 14, still running and now i am 24. It never got to the big levels as all the other internet companies but I was young and didn't know how to expand the business. Running the company prevented me from going to college... however I did gather up some money and my real estate investments in the early 2000s paid off good amount. So I have gathered some money. As of about 6 months ago I became very very interested in the stock market.. to a point that I almost have become obsessed. I want to start a career as a trader. I nibbled at it a bit and very quickly after loosing some money ... switched to swing trading which seems to be working better. I have realized the big gains though are on the interaday trading... so thats something that I will persue by attending a prop firm. I have some questions.. what kind of money can be generated (income) for a trader? I am not talking the big names at sachs or merril... basically professional traders at your average firm... Basically, I want to know the ball park of what can be generated realistically for the pros!
Your 4 degrees and the arrogance that comes with them is what is holding you back. The markets arent really hard, its that everyone is equipped differently from the outset.
I'm curious too, how much money is the average prop trader allowed to lose, before being told to give up?
for me i made only like 5k my first year. 2nd year i made about 20k. 3rd year i made about 100k. 4th year i made about 550k. this year i am up like 325k or so. not every trader progresses like that. some make a lot quickly and then flatten out. anyhow...i don't know every prop firm but i am going to guess the upper range is probably around 2+ mil take home but don't quote me on it. don bright might be able to chime in and give you a better idea. he is obviously much more knowledgeable than i am in this area.
depends on the firm. ours will give you a pretty long rope to hang yourself from. most people just eventually quit because they aren't making money or they aren't making enough money. it usually isn't a matter of just losing money when they are let go. sometimes it's a matter of the trader wasting his/her time whenever they could be making a lot more money doing something else. trading isn't for everyone.
Do the traders at your firm use Their Own Logic, or The Firm's Logic, or a Combination Of Both for trading?