how long of a track record/becoming a career trader

Discussion in 'Professional Trading' started by milktruck, Aug 31, 2008.

  1. So, I am looking to be a "Career Trader." I am already, in some sense, only Id like to be in it for myself.

    I am thinking of taking a job tutoring standardized testing from 2-10pm, grabbing dinner and getting back to the capitans chair to trade fx on end asia/london open 3 or 4 nights a week. This job will cover my expenses as I develop a track record. Where I work now prevents me from trading. I will continue to have no life and drink heavily on weekends to make up.

    Hopefully I can capture some the imaginary gains I am making telling my coworkers "ok Im long at 60, add 50% to the position at 90, stop at 35 and Ill call my limit over the figure." Ive made millions ... in my imagination .. . and I dont cheat I take losses.

    I know of some firms who will give you a little capital at the 3 month mark, and I have some interested parties who would give me small sums to manage who I will call on once I have some auditible results.

    When exactly will I have a long enough track record to be taken seriously outside of friends and family? I wouldnt need a billion bucks, in fact I might not even want more than a couple million, so I wont be pitching to Goldman or anything. But now I am imagining quality problems I dont have yet...

    Also, feel free to let me know if I am being an idiot with this tutor idea. It seems reasonable to me but maybe Im missing something. The only pitfall I see would involve working with high school aged girls so much. Does anyone have experience doing this?
  2. so there is no standard length of track record that is considered respectable?

    I mean, a 2 month record would make you look like a clown, though I have seen people raise money with extremely unsophisticated investors with less, and they were clowns. Is there any industry standard for when you are no longer a clown?

    I know I just set myself up here lol...