My job is holding me back

Discussion in 'Trading' started by Jdesey, Dec 26, 2022.

  1. Do you even trade? at all?
     
    #71     Dec 26, 2022
  2. It's great to hear you had a successful trading week despite your challenges with COVID. Understandably, you might consider switching to trading full-time, especially if you find it more enjoyable and fulfilling. It's always a good idea to have a financial cushion before making a significant career change, so it's wise to aim for at least 12 months of expenses saved up. It's ultimately up to you to decide the right decision for you and your financial situation. Still, it's definitely worth considering the pros and cons and weighing your options carefully before making a final decision. Good luck with whatever you choose to do!
     
    #72     Dec 26, 2022
  3. Businessman

    Businessman

    What ever it is, chances are it is meaningless. Making 40 to 80% a month, consistently for a retail trader is cloud cocku land. Sure it can be done sometimes, and even more than 80% in a month sometimes, if you have an outlier month and were also betting big (eg 5% a trade or more). It is just not going to happen consistently most months. Trading is just not that easy.
     
    Last edited: Dec 26, 2022
    #73     Dec 26, 2022
    Tradess0610 likes this.
  4. Businessman

    Businessman

    #74     Dec 26, 2022
  5. newwurldmn

    newwurldmn

    i think only market makers who receive bid/offer can do it: earn everyday. Goldman Sachs does it but they come in every morning knowing they will get 10-15mm in risk free commissions every day.

    Further the firms that do do it (like Goldman, virtu, Susquehanna) require much more capital. I bet their returns on equity are closer to 20-30percent and ROIC is like .1percent.

    Finally for these firms to be the consistent they have massive infrastructure.

    Bottom line: I think you are grossly over estimating the consistency of your possible returns over many different market scenarios.
     
    #75     Dec 26, 2022
    Spooz Top 2 and countryBoy641 like this.
  6. SunTrader

    SunTrader

    #76     Dec 26, 2022
  7. Businessman

    Businessman

    It doesnt have to be doubling every year, it can be doubling every 10 or 20 years. That is still exponential growth.
     
    #77     Dec 26, 2022
  8. hilmy83

    hilmy83

    That's my point bruh

    If he did it within 6 months, it's all recency bias.

    But doing it for at least 1 year consistently...he's got something

    3 years? I'll be his student
     
    #78     Dec 26, 2022
  9. SunTrader

    SunTrader

    No. Again that is compounding. Sheesh.
     
    #79     Dec 26, 2022
  10. Darc

    Darc

    #80     Dec 26, 2022