that is the problem. if I was working my job so many hours would bring home 0.5 m each year, with almost no volatility and around 7x less stress. you sure it is worth risking your health for money ? It is just paper and as it stands right now, people believe in its magic powers. but things may change as unorthodox stimulation gathers place. best, to get rich in 2 years and do something else. 20 years doing it, HUH!
I live a very active health style. I still find time for the gym 5-6 times a week. And Im on a bodybuilders normal diet so Im feeling energised most of the day. Better to make your millions before 35 than after, right. Also it helps that I trade from home. And when I go to a small dinner, or go to the gym, I'm watching my home screens from my phone. Its not a job you can just do a certain amount of hrs and be guaranteed stress free money.
health stats & longevity are not very good for traders. easy on yourself. great if you make it at 32, but not great if get sick or on pills at 31. then final time is ticking. max 15 years after serious disease starts. look up stats. see soros, he took it seriously at 40, and left it before 60 and made other people getting stressed. irregular heart beat is common start of end.
thankyou for your advice friend, i really appreciate it all throughout my life, ive had to work 3 times as hard just get the same results as everyone else. and in trading, results the same as everyone else basically means failure anyway since the rate of success is so abismally low my aim is to get immune and desensitized to large enough size so that i can then take it a lot more easy in the future years. unfortunately i need to leave a larger and larger margin with my prop firm which is what ive been doing in order to achieve this goal and that also builds stress, and fear of wiping out the past 4-5 months of my income in a few weeks (which can happen very easily). once again thankyou for your advice
Interesting post s0mmi. These guys, do you know what percent return do they make in a full year and what are their account peak-to-valley draw down during that period?
>No they're very secretive about how much they make. Personally, I wouldn't be so secretive. I'm open to my friends and people if they ask. I won't telll how much I've made total, but I'll tell them what my last ~3 months were like and talk about my struggles. I only gather all this info over time. They drop hints, or you over-hear them about 'position size'. And when they go offside sometimes you hear rumours of the number they were offside, even by them. I know the product theyre in. I know the size they clip, and how much they use. I can gather very accurate estimates as to how far one would be offside. > All of this is pretty good considering they never actually want to spill real numbers to anyone. However I don't truly know how consistent they are. That is, I don't know just because one guy makes 100-200k/month, is that a good average month? I really doubt he can do that every single month of the year. People who are ultra consistent month to month usually, there's more to the story. >For one who makes between ~3 million to 5 million (not including spit here, so thats total month to month) I would say... leaves about ~$1 million in the account. That's equivalent to two stops. > The most consistent guy I know, for example, made lets say ~20-25k a month for 2-3 years STRAIGHT. Every single month. Maybe lowest 16-17k. Highest, 30k MAX. During this 2-3 year period. I consider him as one of the best for being able to do this. > However, you would think he's amazing and can size up indefinitely right? So why wouldn't he? He is very, very good.. but... every so often he would tell me like "I was -16k in that trade" and "I went -36k in that trade... scary..." So actually because he's so used to his size, and immune to it, he was able to always battle back those losses and return the month to trade to a small loss of some sort. The hardest part is the progression part. Getting the size and money-region that is acceptable to start settling down into. > Now knowing this, I really really doubt those guys who are on-top are actually profiting every single month. For some of them, they have HUGE secret egos. Huge. You never really know what they call a 'down month'. If I, for example, try to make ~50k to ~100k a month, if I am down -$10k then I will say DOWN MONTH. Straight and simple. If I am only up +5k for the month, I will NOT call it up an month. In fact I still call it a Failure of a month. To some of them though, they only consider a down month as "Ohh, well I aim to make ~50k-100k a month, so a down month would be if I'm down between 30k to 70k a month. Around the region I try to make." So, in actual fact, since I haven't seen their stats, I wont be surprised if their entire year income only consists of 3 good months and 4-5 average`ish months tops. > I can tell you that for 2 of the 3 biggest guys I know of.... I am almost 100% certain that for Guy #1 to make 400-500k/month his actual stop, PER TRADE, is up to 500k. And for guy #2, to make 100-200k per month, I am almost certian he goes even MORE than 100-200k offside at some point. I won't be surprised. It's wierd. But these are the biggest and the best. I have not seen anyone at my firm with a dollar stop of anything less than 0.5 months worth of an average income.... go on to make more than 150-200k a year. So if your 'average good month' is 50k, of all the traders I've seen and heard of, I haven't seen one who TRULY only risks like 10-15k per trade. In order to crack ~50k every month you need like to risk ~50k every single trade. People will say what they do, but what they say and what they do are TWO different things in this game. How does everyone have a 'theoretical' reasonable nice stop but never get out when they're down ~1 to ~1.5 months? It's because they fund their account, its their money, and risk has spoken to them and theyre going to battle it out. Thats why. So I never believe anyone who is truly above and beyond. Not in this day and age of efficient markets and highly electronic trading, with the saturation of algos etc. > It's a weird concept to grasp. It's not like every trade you enter you say "Im willing to go 50k offside..." but more-so, if the market decides to go really really far and not let you out for a little loss, like it will every 3-6 months, you can trade a variety of products and tools and if it continues to go really far.. in this case they'll usually allude to their real stop being ~1 good month of profit just for the trade.
Easy. Most of their standard trades: > If it's Australian bonds with U.S. Bonds, the max they'll usually hold a majority of their size to will be until the end of the U.S. session. This time frame can be up to 15-18hrs (4pm australian time to 8.30am next day). Sometimes > Most australian products need to be exited on the re-open. So for australian equity, spi, it needs to be exited on the commencement of the asia opening. Once again the same time-frame as mentioned above > For Australian yield curve (Aussie 3yrs/10yrs) the time frame is usually maximum 2-3 days at MAX. Most times it would be a few hours after the end of U.S. session (when Asia reopens) so maximum about a day. > For Australian STIRS. Most of the flys/spreads entered are held for like a week up to a few weeks if they need to just to go onside or pay them