probably is trolling, but nevertheless, the ET mentality of making small amounts here and there and trading for a living is just bizarre. You only have one life, get rich or die trying!!!
here's a thought: whenever you are about to put a position on, check to see that you are putting enough size on to make it worthwhile. If you can't put enough size on because your stop is too far away or because you suddenly realise it's not such a great trade (i.e. no real conviction), just don't bother doing it. Will save some commission too!
If you are serious and have a great 3 year track record with a decent sized account which I assume you do since you made $240,000 off one trade, get it audited and try get in a position of managing other peoples money. prop firms hedge funds become a cta If you managed high millions you can earn a 7,8 figure salary. Anyone remember that show "millions by the minute" one guy was making like high 6 figures a year on his account and a hedge fund wanted to give him $50m to trade.
I think he is not serious. He did not post any track record, nor size of the account. Let's assume he did make 240k in one trade. How big was the second biggest trade? 1k? Or -2k? There is no information at all about number of trades distribution of profit and losses.... I am surprised that so many people take this serious.
I been playing the game long time and have meet hundreds of people in the industry, of those I knew that were consistently making 100k per month were floor traders in S&P/Bond pits in 80/90s, it is incredible more difficult to make 100k electronically cause volumes have come down due to making too many instruments plus instruments have been watered down, retail costs gone up, 24 hour markets, just cause you may have ten million dollar account, when there is not enough volume, you get 2-3 ticks slippage at most inoperative times. The guys I have known that consistently have made the big bucks are the futures spreaders, like Bones and option traders. Day trading keeps getting more difficult as larger moves often come out of luck than rules of Price Action, due to programed trading to arb between underlying and Indexes. Whereas it been a fact that longer term whether staying in months or few weeks holds the greatest wealth because most overlook the expenses of fees. In a given month, if I was to pay retail it be 1-2 brand new cars each month as I go for ticks. If you think a chart looks great and you can just trade 100's, think again as the volume will hurt you bad. One of my favorite markets to day trade might do 8,000 contracts for the day, so thinking of doing 5,000 contracts in any one day is impossible. Information that you seek, no one is going to express as you be one more to compete against.
The house you bought in 2000 and sold in 2006 does not count as "your biggest trade". If you can belt out a 240K trade. What is a measly 100K per month? From a back of the napkin calc, the proportions are wrong because it doesn't fit the typical % return distributions of assets, strategies and experiences of someone who has traded. I am a just a guy trading in my undershorts but this smells like concocted bs. Please comeback with a more interesting story, don't use absolute amounts, and build up your profile first with some basic interactions.
Hey G don't forget to hit me up next time you visit Chi town maybe i can pick your brain. The CFE is having a rooftop party next month, i like the characters that show up to those events.