Discussion in 'Professional Trading' started by billpritjr, Apr 17, 2005.
POLL - What is your status?
Very good poll for brokerages to record.
I hope everyone votes here
Interesting results so far. Nice poll.
I would definately classify myself as a "student of the markets" right now, even though I'm currently trading with a small online brokerage account.
I started trading in August of 2004, and likely won't have sufficient seed money to trade seriously until I'm finished University a year or so from now. In the meantime I've been absorbing as much knowledge as possible about the markets, trading, investing, etc., as well as gradually learning valuable lessons about actually trading from a practical standpoint. It's probably worth mentioning that all of my research into trading has helped me out a great deal along the way with my degree (I'm a business undergrad student, finance major).
I'm currently hoping to start trading more seriously at some point during 2006, though it might realistically take longer than that to really get started.
I'm surprised to see so many prop traders. I didn't realize is was such a large community. Do most prop traders trade from trading arcades with other traders? I know Bright Trading has a "remote" option for stay at home traders. Are stay at home traders still a minority of prop traders?
Me, I'm a professional futures trader. Also called a Commodity Trading Advisor (CTA).
I used to live in Philly and I traded for a prop firm that had a center city office. I moved to SF, California and still trade for the same firm, but remotely (I have access to an office here, but can't bear the idea of waking up at 5:00 to get there on time)
I use comcast for my internet and i find my trading software, etc, to be just as reliable from home as I found it to be in the office. Other people I know from my firm sometimes trade in the office and sometimes at home and they seem to have good experiences trading from home as well.
Divorced.....Seeking four hour relationships with attractive females.
.....But seriously.....Trade from home with real money. Does this still mean I'm a "non-professional"???
So based on this months-long poll, 75% of ET members are non-professionals.....
I think it is because of the phrasing: you defined "professional" is being "employed", i.e. "paid to play".
E.g., if Aaron Schindler (quick example which comes to my mind, as he answered earlier in this thread), chose not to deal with the hassles (e.g. CFTC audits) and/or paper-work of being a CTA and traded his own funds (or limited OPM up to the legal limit). Same strategies, same setup, just doing it with 10mil AUM vs 100mil AUM. Would he be "pro" per your definition above?
Many people could be trading a few millions of own money, doing so "full-time" as their primary occupation.
There's also the law of diminishing returns. There are certain advantages in being "lean and mean".
I hope people dont get hung up on the word professional, although I would definetly classify someone trading from home and making a majority of there income from trading through a deposit needed prop or retail account a professional trader.
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