What to do next?

Discussion in 'Professional Trading' started by luckyputanski, Jul 19, 2011.

  1. Ok, I've spent 7 years learning how to trade. I've been trading 4 years with slightly bigger money so I know my psychology is not an issue. I'm profitable, nothing huge but better than vast majority of funds. Now I have a method that suits me and all I need is time.
    How can I capitalize on my skills on top of trading? I mean, I can make 30 - 40% a year, but I will take me years to be truly rich. Prop firms probably won't take me - I'm a trend follower, holding to winning trades sometimes for months. I thought about teaching - I have no problem with sharing my method for a little reward, I know I will find something better soon.
    What should I do? What should be my next step towards finance career? I have degree in computer science, how can convince financial companies that I'm of value for them?
     
  2. Find a shorter term strategy and do options trading. Much higher yield. In 2010 I would have yielded 115% had I traded stocks. The 8500% I actually got trading options moved my account forward a bit faster. The key to making this work is to understand time decay and purchase options 8-12 weeks from expiration, and to have a very tight entry plan that still limits the max loss to less than 2%. Look into money management and get really good at it.
    To start, set aside about 10% of your account to practice with, and trade it just like you trade stocks. But just hold for less than a week at a time.