Hi Don, I was wondering if you could expand on this a little or point me in the right direction? I know someone who talks about providing liquidity and he makes over $100,000 a month, which I thought was pretty good, but maybe its not. What do your guys make who use that strategy, and where can I find out more about it? Any help on this would be greatly appreciated. Thanx 5-8s
If any of you read trader monthly and see the top traders in the world profiles (like the recent top 30 under 30 article) you'd notice that the vast majority of the top income earners in the trading profession work for funds.
Agreee, making money for others (Using OPM) vs. purely discretionary trading for themselves. In this case "bigger can be better" - but for 99% of the traders in the world, they prefer to make money for themselves, IMO. Don
I have yet to meet more than a very small handful of equity daytraders who actually make a consistent 25-50K per month in the markets (not overrides/group trading or anything else, just pure trading on their own ideas). If you are interested in bringing on someone with my track record (see my previous posts on this thread) let me know via private message. I am not starting with a 500-share line again and a pat on the head "good job, you made $300 today", so only contact me if you are serious. Thanks!
Exactly it's absurd to compare the two. Many mrop shops will take anybody with a pulse-- taxi drivers, line cooks, and especially city college kids. These guys are 'customers' to the shops. This is wannabe wall street. Hedge funds recruit from the major banks which recruit from Harvard-Yale-Princeton, train them at world renowned programs at Merrill, Goldman, etc. These are genuine employees where there's job security and all the perks of the real Wall Street.
I guess you didn't read my original post, about having a base salary to live on. You CAN'T trade for rent money - that's a professional/psychological disaster. So, since I need my savings to guarantee that my rent gets paid every month, you'll put up the capital. In exchange, you'll get a trader with experience and a record of making nearly 40% annually on his (small amount of) money. Not some kid out of school thinking he's gonna be rich in 6 months. I'm sure there are established traders out there looking to bring in someone with a very high probability of success, rather than wasting month after month on a revolving door succession of wannabees.