Starting Over ..............

Discussion in 'Professional Trading' started by seadog, Nov 6, 2007.

  1. seadog


    Have a profitable s&p mini daytrading program. Took a hit and know why. Want to get back to trading. Have absolutely no money or credit. Have the drive and a profitable trading program. Profits are made from trading, not commissions. Was a stockbroker for 6 years and selfemployed for 12 years. Willing to relocate.
    Looking for input/ideas/suggestions.
  2. Maybe prop?

    You do need a little money for "training", etc. There are plenty of jobs in LV to get a stake going...
  3. seadog


    Thank you for getting back to me.
    I looked at prop trading, most firms need $5-10k to put down, and very few trade the s&p mini. I would love to work LV. I am single and can move easily am working in a low paying job at the moment,live paycheck to paycheck.But it pays the bills until I can find away to get back to trading.
    Thanks for the input
  4. jrlvnv


    I work as a dealer in Las Vegas to fund my losing trading system. Vegas is good and still growing. Come get a few weeks training as a dealer or take a job as a valet. A lot of easy 200 a day jobs out here, rent a room for about 400 a month with someone and you can build your stake in no time. Take a shot, only live once.
  5. GodsGift


    This past weekend, I went to a Gambler's Anonymous Meeting just to see how the extreme end of the fish pond lives. And I gotta say, the things that were said closely resemble this board - and this thread specifically.

    Before you go work as a valet in Las Vegas to fund your losing trading system, first watch Rounders and then Two For The Money.

    I'm speaking from experience as a failed day trader in his late 20s. Two years ago, I took an entire year off work to daytrade. I lost all my money (about 10k) and lived like a peasent. Now, I manage projects for banks making around 1k per day. The experience was life-changing and made me realize (at least me personally) that the market is a great way to preserve wealth, but the surefire way to get rich is through success in business. It's not as stark of a contrast to the markets as you think: Many people work for crap pay so that guys like me, who command a premium, can be retained. I take from those who are weak and pocket excess rents in-line with what the labor market will pay me. The correlation ends there, however, as my life in business has positive expectancy whereas my daytrading careeer did not. In business, I create my own durable competitive advantage in the form of sharp and crisp communication skills, executive-level presence, and a conceptual grasp of relevant issues.

    Steve Cohen and Paul Tudor Jones are truly the outliers and it's foolish to live one's life seeking to approximate their achievements.

    To be clear, I live my life with a sense of destiny and purpose and I have every inention of getting rich. No 30-year tenured middle management position is in my future. However, there is a difference between getting up everyday and going to work and getting up and hoping that the market will give you enough to eat. Call it your "system," but the bottom line is that those who move to LV and work like humps to fund their daytrading "system" are fish and nothing more.
  6. What a nice man.
  7. GodsGift


    The fact that I would post a cautionary tale about a topic (being a fish) that often takes people a lifetime learn is a service that should be provided more often. You should be thanking me - it cost me all my money and a year's worth of earning to learn it on my own.
  8. You went to a Gamblers Anonymous meeting.
    To see how the other half lives.
    You're browsing a trading site.
    But, you no longer trade.
    Do you feel better about yourself yet?
    Maybe you should throw some empty McDonalds wrappers to the homeless?

  9. You're 100% correct in the above posts. These forums are full of wanna-be "traders" dreamer types with no chance of ever making any money and most likely they end up wasting away whatever money and time (usually years!) away.

    What a shame. Screw the penny-fucking "trading" game.
  10. Quitting after on year does not make you an authority on the subject. In fact its a joke to think that you will makes money the first year, and disrespectful to those who have put in thousands of hours of screen time before making it.
    #10     Nov 7, 2007