Millionaire traders

Discussion in 'Professional Trading' started by magnum29464, Jan 30, 2008.

  1. Does anyone know personally anyone that has made millions trading for a living.

    sorry for the pretenious(sp) question. Just curious.

  2. :(
  3. Yes, but I should add that I know guys that lost it all too...
  4. I know many that might, can or don't think twice about losing a million or more on a trading day.
  5. united46


    You mean other than 80% of the elite trader members??? :D
  6. clacy


    Yes. I had (he died about 10 years ago) a distant relative who made millions trading grains. He was a farmer on the Iowa/Minnesota border and you never would have known that he was worth over $12mm. He did all this before the internet was available. I don't know how much of his wealth came from farming versus trading, but most of the family assumes that it was mostly made trading.
  7. Eddiefl


    who was that Black Jesus,?,, hmmm a black guy from what is now modern day Palestine,, hhmmm,, yea, i dont think so.
  8. mokwit


    Personally, Yes, but they did it on open outcry floors and one lost it failing to make the transition to electronic. He makes the possibly biased point that he has never heard of anyone doing that from home, from a prop office maybe, but never from home. Anecdotally, many more.

    Most (but not in any way all) of the big fortunes attributable stocks are actually from sale of businesses or from being the market clueless buy and hold shop floor guy whose stock was the one in a million that made people rich from buying and holding, rather than the those that made paupers of those who held on.

    Others may have a very different circle of acquantence/experience to mine. I am counting pure trading and excluding hedgies and Plenty of people on USD1m+ in sales, research and trading in broking.
  9. what a trader makes is irrelevant as long as he is profitable...
  10. mokwit


    Come on, that's like saying salary is irrelevent so long as it is more than what it costs you to get to work.
    #10     Jan 30, 2008