WRONG WRONG WRONG.......... IF you want to succeed, and I think most can..then make it a full time endeavour and not give up till you find a few edges..easiest and most common of them being TRend following. But I feel Trend following with small account might take long time for anyone to get to level where they can wothdraw money and live comfortably. So, small account needs to focus on shorter time frame.to increaseculation of money and at least 3 digit returns while account is small.
be careful kids. This is another book reading papertrading hero. 3 digit returns! Trade Like above and blow out. It's a promise!
I'm going to try again [this Crimson guy is soooooo serious...] So Crimson, you ask how much money people make and I answer "Nunja"... then you say "Nunja, what's that mean?".. and then I will answer you.. ok? OK, go on, your turn...
So with consecutive yearly returns of (assuming they are true): 174% 168% 134% 368% 256% 648% 489% 144% (ytd) Why not manage opm? These returns make you one of the best traders in the history of the world. You could easily set up a small hedge fund and be making tens of millions a year. I used to be an executive of a small fund and a truly talented trader can hire or outsource all the busy work and non trading related issues so he can just focus on whatever he wants to do. Since, as I said, you can set up a work environment however you want then saying you like the lifestyle of an independent trader and that is why you donât manage opm doesnât really make sense. So is your trading methodology not scalable, too risky, etc. to attract opm?
I started trading in July 2007 with 20K. I more than tripled it. 2008 was good, results not quite in the 300% range though. I'm enclosing a copy of my 2007 schedule D for proof, something that I encourage others to do. These results are obviously audited, and finalized for the year 2007. 2008 audited, final results won't be ready until October (tax extension), and if we're still having this discussion then, I'll provide. Keep in mind, I'm no whale, and trade when I find time as I'm wrapping up my last couple of semesters of school.
but i laughed when someone above said "no one makes above 50k three years in a row". what a stupid statement. i'm reading a book which came out a few years ago called craps underground. i have no interest in playing craps, nor do i want to learn how to toss, but there's a lots of things in the book where i said 'wow, a bunch of that is like trading." one of them was talking about people who authored gambling books, how the 'legitimate' ones actually still gambled, but those who couldn't do it went around the country actively doing tours, etc. because they couldn't make money from what they were teaching and selling - gambling. another was how it's a waste of time to try and defend your skill set to someone who doesn't believe it exists. and as a followup: why is a person who's got one or two posts on here asking such a personal question about people's finances? like i'd answer them...sheesh.
I have no need to be a "trading god," just letting people know that you can make a living at trading. There are people on the P/L thread who do much better than I. I trade equities with news driven volatility, about 200,000 shrs a day, 500-2000 shrs at a time. I rarely hold overnight. I increase my size when things are going well and cut way back when things are not. I focus more on consistency than big gains, averaging fewer than 3 losing days a month. The percentage returns are not as great when considering 4-1 leverage. I don't care if people believe me or not, just showing that it is possible. I'm not selling any service and have no reason to post a journal.