friend of mine just retired from a CTA... that's the part he hates the most... perhaps you can avoid phone calls, but on the other hand phone calls can be used to retain clients.... if it's only sub based many of them simply will unsub and you have a high turn over.. I mean if you are THAT good to keep these people, you don't need OPM... just trade a few ES you be really rich soon.
@lukas: just go ahead, trade for the track reckord. Even if you don't get your 3m $ AUM, you have a positive track record. Get licensed, trade other peoples money one way or the other. How else would you go about a career in trading? Don't listen to dozu, that advice is bollocks. Nobody will call you after a losing day if you can consistently pull up 10-20% per year. It's not easy to get a 250k$+ job either. So yeah..."just get a job that pays 1/4 million each year, save up by investing into index ETF's and then you're done"...what a bunch of horseshit. If you want to trade, trade. Build a good risk adjusted track record, develop a sound method that scales and go for it. If that is what you want to do, why kick that plan into the waste bin? That's how losers are born
I will tell you what hurts more than losing money - lack of family support. Moreover, obstacles created by those you thought should support you, who have no idea that it is just a business like any other and who treat you like a drug addict. Well, it seems severing contacts with your family is yet another price to pay to pursue this career. Sorry for a little psychoanalytic sidenote...
That is not true. 50% a year starting out with $25k, having to start withdrawing from the account at some point, paying tax on profits, is not going to make you rich soon. Just use a calculator
It isn't that big of a deal. Finding someone who had family support right away, is like finding Alice & Wonderland. (and quite often, they are spoiled) Here's something, that always gives me the second thought, whenever i have a glimpse of doubt, about that which i do. Might help you as well :
You live across the river in Morrisville. It's a ghetto. Highest crime in the state other than North Philly. You live in a house valued at $200K. Strange choice from a self-professed "multimillionaire." Please tell me that I am FOS so I can post it all...
I have two homes in Washoe County, NV. One Zillows at $1.6MM and the other at $3.6MM. We just bought a home in San Diego county. It's relevant because you (still) live in Morrisville, PA and profess to make money trading which is utter BS.
Not at all. My father stole money from me at my wedding. The fucker actually helped my ex-wife when I was getting divorced. He pretended like it was nothing wrong, but his actions directly have probably cost me in excess of $50K just relating to this marriage. Realizing I didn't have a father, but ... something else, was liberating. I don't really respect or treat him as a father. Just an acquaintance. Won't go out of my way for him that's for sure. Yes, sever contacts with people who bring you down. I urge my children to reconsider all their contacts every year at this time and even tell them to sever contact with me if they think I am not good for them. Stay away from those who bring you down. Period. Move. Do whatever you need to do. But in the end your outcomes are your own. Face and own them.
I asked a buddy whom I've helped financially if he thought it was prudent to be short TSLA. He responded by blocking me on all social media and started calling my cell at 2am (and hanging up). Now THAT'S fucked up, but you win, easily.