No, there aren't any such fools around and the ones that claim such returns are liars 99.99% of the time.
Why do posters come one et and act all coy about producing unheard of returns then ask total strangers for advice? Beware..... I have made $8.6 million the last year trading tiger shrimp futures on the Vietnam shrimp exchange, do you think I should quit my janitorial job? Please help et community!!!! I don't know what I should do....
Lately I try to give people the benefit of the doubt that they're not just making up numbers. But ultimately, the question the thread-starter asks is a good one for anyone thinking about going "full-time", whether or not they've produced astronomical gains. So even if he's lying, still a good topic. I've had a 1,200 account go to 75K in about 6 months with metals futures, so with a bit of luck just about anything is possible. That doesn't change the important question of whether or not those gains should be assumed sustainable enough to quit one's day-job.
No. The fact you're even posing the question here indicates you aren't completely completely confident, and if you have these kinds of doubts now it's more likely they will become more intense if you have to rely solely on trading income. You can't doubt your abilities or your strategy/ies. $2K - $250K in 18 months? Amazing. - d
As stated by a previous poster my objective is not to convince you of my returns. If you want to believe it or not really makes no difference to me. I have no motive to lie to you. I would appreciate it if the repliers kept on topic as I am not trying to brag over how much money I have made but to learn from those that have quit their jobs to trade full-time. Thanks to those who have given actual feedback from their own experience as I find it quite helpful. Brian
True. If someone had the foresight and LUCK to buy 500 RIMM Jan $130 Puts on Friday's open for $5,000 they would be worth $300,000 right now!
I don't agree with dkw. Doubts are not an issue. The issue is if you have courage to handle them. Only the best can make big steps like that (especially with dependant kids). Without doing the move you will never know if you are better than average. Trading wise it may be that you have an edge with penny stocks - I am not sure that is enough though. When you are on your own you will need to protect your capital even more cautiously - and that's tough with this crap. Use your 6 month for trying something else as well - commodities, fixed income, whatever... With more experience and no debt (and guts) jump overboard - one thing is for sure - you will have a lot of fun By the way - not many people will be forthcoming about trading from work even on anonymous message board.
Brian, The picture you paint say yes go ahead...you will regret it if you do not. I wish you a prosperous 2007. Michael B.
Hey genius, he may not have subtracted commissions from that number. GROSS = before commissions in daytrading. And in daytrading, when you say NET, you mean before taxes. When you ask your fellow daytrader "How much did you net for the day?" you are not asking him to knock his tax rate from the top. Same goes for monthly and yearly figures. To the poster: Don't quit your job. I am giving you the benefit of the doubt about your #s. Hence, DO NOT QUIT YOUR JOB. You're a fluke, a lucky guy, a bubble trader. Keep your money, keep it safe and certainly do not put yourself in a situation where once the good times end you will turn desperate. I guess Canadian penny stocks is where it's at right now.
Just for the record the $250K profit per year does take my commissions into account and it is not inflated...actually a little low based on the last 2 months. This is the last I will reply about my so called "claimed profits". Good luck to all in 2007. Dtrader2223