Well your opinion is kinda detrimental and has no value. I mean I should have figured that out when it was disclosed that you have a measly 30k trading account. It's funny how you try to bring up trading experience when you barely have any. The kid that made 1k a day, was making double that when the bullets were hot. He owns his own beautiful place in Brooklyn and saved enough money to sit on his ass for 10 years and not work. Oh yeah did, I mention he was 20 when he started? Not bad to be making a quarter of a million dollars after 8 months of making nothing. Oh yeah, in NYC a quarter million dollars means squat right? You gotta be making millions a year to live in this city. Well here is a reality check, most ppl making that type of money in NYC got it through NEPOTISM/INHERITANCE. So for those that come from real life and not sheltered connections, 1k average a day is pretty damn good, don't you think? Do you live in the city TF? I'm pretty aware of what people make around here since I been living here for 5 years. Ever been to LES/East Village? Ever wonder what those people make, cause it aint even 50k a year and they manage to have several kids. The illusion that you need absurd amounts of money to survive here comes from those that have little or no clue about how ppl live here. Think of who really populates this city before you state that 100k a year is worth shit here. Why is there also this assumption that ALL day traders sit there day after day doing the same monkey trading until they burn out. Some do yes. But not all. TF you do not know what I do with my money, how I invest it, what I research and what my bigger plans are. There are so many new markets out there, you're telling me a trader is bound to fail no matter what he does? "$6-7k a month is not even worth looking at a computer screen all day. A good secretary on wall street will make more than that.. " Hmm ok. What's the last time you worked in a corporate? My last job was $25 an hour at UBS of doing nothing but working on a computer for 7.25 hours. The I-Bankers stare at the screen for 12-16 hours if not more. Look at their success rates and the price they pay. Almost any corporate job nowdays requires sitting at the computer for at least half your working hours. 7k*12=84k a year. Wall Street/I-Bank secretaries make somewhere between 60-90k plus bonus. So yeah I guess if you can get a sex transplant and a boob job, go be a Wall Street secretary. You get to stare at the computer as well, but then don't forget those little quirks like answering the phone, endless paperwork & having to flirt with your boss. "How many businesses do you know where u can click one button and in 5 minutes your entire life's earnings can be washed away?" Well, first of all, you would be an idiot for ever risking your life savings and second of all, you would be an idiot for taking trades with such crazy odds. Oh and btw, many businessmen end up blowing out, going bankrupt and losing their personal assets over silly little screw ups that end up haunting them. "How many businesses do u know require you to compete everyday with some of the smartest people in the world... that have much better information.. more resources and in some cases a much greater edge than u?? U think u can compare this to your typical Joe starting a plumbing supply store or pizza shop?? What a joke." Ever think about Pizza Hut/Dominoes corporates vs a small pizza shop? Odds are kinda way way out of the small guy's favor. And did you ever think to realize the advantages that the day trader has over the masses and those Ameritrade jokers? Does it even matter, there is so much money out there in the markets for those that know how to extract it. It's just a big pool of money where everyone is trying to psyche and cheat everyone else out of it. It's a market, like any market of the past where only goods were traded. That's the real edge, not some crazy system that blows out when the market goes from bull to sideways or bear. I dunno man, you need to get the doom & gloom scenario out of your head. Why do you even try to trade anyway?
Guys .. is it just me or MECRO.. sounds like some hot shot stock broker from Boiler Room? Dude how old are u.. I bet u are probably around my age.. if not younger. I am 24. --MIKE
mike, i don;t live in the city, but i tend to agree with you. wife lived in the city untill i talked her into moving to the 'burbs. yes, you can live in NYC for far less than you state, BUT to live well, one needs to make the coin you mention. surfer
You are such a joke. Yea let me tell u the guys that are running pizza hut all the way from the top to the bottom.. are some of the smartest people in the world.lol Ask your average pizza shop owner what their biggest threat is to their business.. I know for a fact ( have friends in that biz) it wont be Pizza Hut. Their biggest threat is making sure their costs dont get out of control. ( rent, insurance, equip, supplies). You extol ignorance. And yea my edge is stealing money from Joe six packs account at Ameritrade.. lol Thats a great way to make a living. I am sure PTJ, Baldwin, Dennis.. and the others can learn something from your brilliance. Just read what u are writing.. u share absolutely no intellect except these quip statements that are funny. --MIKE
Trading for 8 years total. Opened brokerage account cosigned by my father when I was 16. Been trading professionally full time from my house for the past 2.5 years. --MIKE
Can't speak for anyone but myself but I'm not doing too bad getting in late and getting out early. (my living expenses are very low compared to some being mentioned here) Could care less about being a bull or a bear. Could care less about what price is *supposed* to be doing. Care more about listening to price action, observing and playing off of a few simple patterns. Daytrading and swing trading are horses of different color. (I don't try to ride daytrading horse all the way home.......just to watch price come back to me....I get out when the gettin's good - I can always look to get back in later) If that doesn't sound appealing then maybe try swing trading. Maybe some swingtraders shouldn't be daytraders and some daytraders shouldn't be swingtraders. Nothing wrong with being either one - if the shoe fits wear it. Some traders can do well at both. If not comfortable with one shoe try the other. No shame in either and no shame in working regular job. All work is honorable as long as it aint about flim-flamming others. I choose to daytrade. At any moment I am free to choose not to. That, in and of itself is an edge.
A decent house in a good neighborhood in NYC will cost a min. of $700k. Renting in NYC will cost atleast $2k a month for a piece of shit. Anything nice will cost $3-4k a month. Private school alone cost $15-20k a year. The public schools in NYC are the worst.. I would never send my kid to public school in NYC. 5-10 day Family vacation once a year atleast $5k. Leasing 2 decent cars will cost about $1k a month.. not to mention another $2-3k a year for insurance. What about family insurance plan, dentist bills? The list goes on. $10k a month on the books is not gonna cut it my friend. Be prepared to start taking out mortgages and racking up the debt if u want to have a family and live the good life. The only way to survive is on a dual income. But that means a lot of stress on marriage.. because husband and wife both work full time and will be extremely busy... neglecting kids in most cases. Welcome to the real world. There are 2 types of people in NYC that are living the "good" life. The ones that are making/inherited serious money $250k+ yr.. and everyone else in debt. --MIKE