I was a stockbroker and knew nothing of prop either :eek: It wasn't till I came to ET (3 years ago) that I learned about prop.
Maybe so, but I bet you knew what leverage was. This guy talked about it like he just learned about it yesterday, and it is obvious he has no clue to the downfalls of leverage.
The more I think about the money the worse I trade. When I focus on the process and staying disciplined the better I trade. Setting a realistic goal is possibly the most important thing a trader can do. When you set a goal that is unrealistic you will try to beat the market instead of taking what it gives you. I'm not saying you won't make a million by 30 or 200,000 by 2008 but just because you've read the success stories of a number of successful traders you need to realize that they paid their dues and were willing to sacrifice a lot to get to that point. It's a marathon not a sprint, take a little every day and that will become a lot in the end.
man, i wish i had your age, but my experience lol edit, get the hell outta scottrade and go to interactive brokers or something
but you sure don't keep your account at Scottrade after 7 years of in and around the market. Things just don't add up.
ever since i became a profitable trader i have basically never ever thought about money. if you think great traders trade for the money ur dead wrong. If you take some time and talk to succesful traders ull learn one thing: none of us do it for the money, we do it cause we love it and cant think of anything mroe we'd like to do. I bet if i offered some of the traders in ET 50k a yr trading or 70k a yr in a job, a good majority of them would choose trading even if it pays a little worse cause every day when they wake up theyll look forward to it. btw i was an investment banker before i became a trader. I earned twice as much before as i do now, but im triple as happy. Do what u love, not what pays you the most, money is great but it doesnt make you happy.