I believe you. But it doesn't matter does it? The bogleheads are lost in their investing quest of % return on capital. For them anything over 20% is creasy. Never mind that you did not publish your net worth so I am not sure from where they got these numbers. Leverage is a very very bad word. How can you do that??? And the guys that recommend you to do OPM should send you 500,000 each for you to manage right away. If they can take the risk that is.
Obviously it matters little to me if your returns are real or not, but I am still asking a simple question. Why are you throwing away a huge amount of money? You can manage other peopleâs money and make tens of millions, or open an account with a prop shop and pay less per share and get at least 20 to 1 leverage. So why are you throwing all that money away? I assume there is a logical reason.
Sounds like you could explain it in 5 minutes but are smart enough to keep your pie hole shut. Why do you need $1M to trade? Sounds excessive... The smart, successful traders I know keep enough to trade only and move excess profits into other investments to stay hungry. You run the risk of blowing out. Good luck.
Thats hardly a fact. I started out with $20,000 that I barrowed, and I was doing fine within about a year. That was before I even starting selling stuff too, so there is no need to get into that. I think that ideally you would start with 50 to 100K, but it's hardly required. Plenty of people are still making great money, I was just in LA and Las Vegas this weekend hanging out with a guy, Nik, who is still mostly a short term trader (very rare for him to hold anything for more then 7 or 8 days) and he is up $30million this year, on his own money using no leverage. He made $35million last year, $10million the year before that. He started off in 2001 (probably the worst time ever to start) with $8000. Brandon
First 2 years No bills from account..And I am always trading scared money. Whenever I start trading with confidence I am sorry afterwards.
Most of the trades I make are very short term and not scalable to more than a few thousand shares. There is no way I could make the same types of returns managing a fund. I also can't stand the idea of being accountable to anyone but myself. I could go through a prop shop and pay less in fees, but I don't need any more leverage. I really don't like taking a lot of risk and have had to gradually work up to larger and larger size. All things considered I could make more money pursuing the alternatives you suggested, but I lead a relatively stress free life and enjoy what I do. If I could bring in a mil a year, I think I would be pretty happy.