ZERO. Because belive it or not there are some people out there that do things not for the money, but from kindness. I HATE that so many "top" traders have this smug, eyes closed, chin up attitude that they make money now, so fuck everyone else. Help the guy next to you and stop being such a dick. IMO. CM69 out
I find it laughable that success is defined these days as "six-figures". Just where the hell did they come up with this crazy idea? As I see it, some traders can't even walk properly and yet they want to learn how to fly supersonic. Is there even a insurance for these morons in case they crash and burn?
I have to agree with a lot of the posters - almost impossible to get a big trader to train you when you're green. Mainly cause its a waste of time - you probably wouldn't understand much of what they do or handle the trades even if given the capital. Getting a good .5 - 1 year of diligent experience will make a world of difference in your understanding and may open the door to some higher end firms where they are invested in developing/mentoring you. A lot of people won't agree with me, but I'd recommend starting a swift trade style shop where you put no money down, pay no or negligable ticket charges and its in their best interest that you make money not just churn shares (though still don't expect great training). Having no commish or cash on line makes it easier to learn and live trading is better than sim - once you get profitable then search for the better deal and mentor.
Just my personal opinion but I don't think trading 5000-10,000 shares makes puts you into the great trader category these days. I regularly trade 10-20k shares but consider myself as an average trader. The only advice that I can share in my limited capacity, trading since 2005, is to be disciplined (learn to minimize losses and walk way), stay alive and don't give up... very cliche yes but it works. Strategies etc. come after a proper mentality and work ethic. You will develop strategies as you trade and realize how often the market changes, forcing you to adapt to the new conditions
IF you get inside the head of Market maker, Who moves the Market, MM always want to move against the Retail trader, So if you & your mentor both are buying at ertain Level, MM will move the price again you to shack you out.
Top traders make six figures every month. They actually also have six figure days in general if the mkt permits it. I'm talking about those that day trade the liquid stocks...usually with significant accounts of 5,000,000+. Many prop firms have these personalities but don't expect them to put a job listing on careerbuilder.com advertising "best commission, payouts and guaranteed profitability". Think Jane Street, Citadel, T3, etc.
We're in 2009! This would rarely happen even if you trade lower volume stocks. The only way this would be true is if the trader decides to take such large positions that he gives himself Jesse Livermore shoestring margins before stopping out.
That's kinda like a mafia Don training some footsoldiers in how to get to the top and become the boss. Why encourage competition?