Pro NY trader goes from 200k salary down to 25k

Discussion in 'Professional Trading' started by joemiami, Jun 3, 2009.

  1. joemiami

    joemiami Guest

  2. may have been a reason why he was one of the guys who didnt keep his job.
     
  3. Sushi

    Sushi

    Duhhhhh. Maybe cause not many make much money by prop trading. It's the rare ones who do. Geeeeez. You guys are stupid and naive. You should feel for this guy. Your only a few steps or closer awAy
     
  4. joemiami

    joemiami Guest

    Im sure the ones with the lowest performance are the first ones cut during this massive shrinkage of Wall St jobs....I would think
     
  5. Sushi

    Sushi

    The guy was on salary bozos. Not some gunslinging wild eye proptrader
     
  6. nkhoi

    nkhoi Moderator

    >$200k a yr trading crude

    I don't get it, he can trade crude right now. today.
     
  7. The WSJ article refers to Mr. Araya as a trader, but the reality is that he was not a trader, he was a floor broker filling customer orders.

    "He had a knack for the Merc job. He could gauge from the roar of traders' voices how the market was faring. He gained loyal clients, and was confident enough to engage in profane shouting matches with them on the phone. Mr. Araya still has dreams about the hand signals traders use to indicate orders."
     
  8. nkhoi

    nkhoi Moderator

    subscribe to Squawk Box then he is all set.
     
  9. GTG

    GTG

    After taxes, a 6000 dollar a month house payment, and eating out regularly at all of those expensive restaurants he mentions that he used to eat out at....there wouldn't have ever been much left of that 200k. If you only make 200k a year you should be spending a LOT less than 200k. This guy was spending his entire paycheck, and ironically he is probably one of the more frugal ones out there, because at least he had some savings and no credit card debt.
     
    #10     Jun 3, 2009