I am here to see if there are people who know how to trade. As you know, people into trading likes to talk to others who are into trading just like in sports, cars, or any other interests. But since I don't regard trading as gambling, this is the reason I don't care to see how you 'trade'. In fact, this should give you a clue. Life would be a happier place if you stop gambling and start understanding the business. Financial trading is an inventory business like any other. The key is to understand what is in demand. Once that is understood, you can then build your inventory accordingly. How the price then moves becomes largely irrelevant. You said you have another business and is a millionaire. Surely you understand the basics of doing business ?
What's sad is the first guy answered the original question most accurately. The "average" a new trader earns is almost certainly negative. It's ok. When you start, you have the least experience you'll ever have and are the worst you'll ever be. Trading is extremely difficult. It was explained to me by the first guy I interviewed with (didn't get the job) that the expected curve for a new hire is lose. PnL curve DOWN. Then, if you're able, flat. Then up. To me, this makes perfect sense. It's someone new and inexperienced learning and improving, and it's exactly what happened to me after I did get a trading job. I still don't make much. I consistently do not lose, which is no small miracle, but I am definitely scraping by. That's sad, sure. On the other hand I actually make a living daytrading stocks, the freedom is insane, and the upside is certainly there. Some of the guys at my firm are still killing it. They don't wave their paychecks around but I'm confident the insane money is still there, but the guys doing that are a statistically insignificantly small minority. Of course you take on the job because you hope that will be you. I don't know what the numbers are but something like out of 1000 people maybe 10 can make a living and 1, at best will be making super sick money.
Imagine only 10 doctors out of 1000 are able to make a normal living from what they do, what a terrible world that will become ? Both beginners and the frequent gamblers have no idea what they are up against when it comes to financial trading. Each of them is better off go becoming a doctor and they will have a greater chance of success.
The odds sound a little like professional sportspeople. Think about it. Where there's a will there's a way. When a beginner's looking for guidance, quoting this kind of information is of little help. Don't let your intellect rule you, it's like going around a golf course with only a putter. It's your drive which gets you to where you want to go, so learn how to master this first.
Actually it's of great help. The beginners need a good round of slapping to bring them to their senses. Instead they are often given the false impression that trading success is a 50/50 bet.
Then show them the way if you know, or would that rob you of your abundance. Violence doesn't solve anything, it only destroys. Are you a destroyer? Is this how you would treat your child?
If my child goes gambling, I'd have to give it a good slapping too. It's the quickest way to teach/learn. Lets not get into the philosophy of violence. I know of countries that goes around the world bombing and killing endless number of people. The violence I propose is rather mild in comparison. What I know cost me dearly to attain. So I can't give it away in precise instructions. But what I have given away already is more than anyone else have or will have in this thread.
Think you should re read the title lol On wall street, how much on average can a trader working on wall street manage, ie play with. How much on Average do wall street pay there traders, ie a wage. He isnt after how much retail make and manage. Lol and lol
Most people at prop firms lose. I don't. But I don't make a lot either. But technically I "manage" quite an impressive sum. So the devil is the in the details. I was trying to post a useful response. I don't think you were. Enjoy your multiple lols.