Thankfully I don't trade for a living, because I still cannot consistently make money on my trades. I make a nice living so until I can be confident that trading can replace that, I'll likely continue trading part time. I've managed to break even for the past 2.5 years, so it could be worst. I work days, so even though I do have some freedom to watch the markets, I primarily feel like my only option is to swing trade, so I don't have to spend much time glued to my monitor. I also recently started toying with micro accounts in Forex at night to learn price action and work on strategies. My plan is to continue to learn to trade until I feel confident enough to make a living from it. If that never materializes, I would be ok, with learning to at least earn 20-30% per year, to build up a large retirement account. I must say that I would love to become a full-time trader at some point in the future.
<i>"...did u feel the squeeze comin this avo ? 3 years screen time qualified me"</i> Indeed. Took some losses on the long side early until it finally popped, but was pretty sure it would happen. Short side paid the bills. Screen time helps
Not sure if I trade for a living or not... I manage OPM full time and that provides good income. I have a lot of passive investments as well. A good portion of my income is from day to day market participation, but, it goes toward my net worth, not towards my living expenses. Mike
Hermit, we both trade for a living. One day you make money and I lose it. The next day we trade: I make money and you lose it
I started batting early too with small lots leaving large stop buy orders above for the pop... then she blew !
Have been trading Asian markets full time since five years ago from Shanghai, 85% months profitable. Multimarket multi-strategies supported by an ATS developed by myself. From this August also managing OPM, so far so good, five consecutive winning months.
9+ years fulltime equities. do *not* take on clients, though i've been asked a fair number of times by family, friends, people i run into, etc. well, first, i'm not trading big enough that having clients is worth it. but other reasons why i don't: -> don't want added mental pressure. if i lose, i lose *my* money. -> i prefer to keep all my gains. -> i'm a daytrader. size becomes harder to deal with a larger cash base. i understand the other side - you have some kind of guaranteed funds, longer term trades can result in huge profits, larger cash base...but it's just not for me.
Have you seen this "idiots" P'n'L lately. I sure as shit haven't seen yours... how about it. You show me yours from today and I'll show you mine.
Good Traders make lousy business persons. That's why I rather trade for myself than opm. Good traders tend to change their views on a dime as they process new information. Business people tend to stick to their one great idea til the very end. Preseverence or "unwillingness to take a loss" is a virtue in the business world, not in the trading world. I have been prop trading successfully for top IBs for the last 15y now, and was told by a superior recently that I should be mature enough to distinguish the correct action in either fields. Well, i am not a superman like he think he is. And he never made a dime trading! Coincidentally, good traders make lousy spouses as well. My wife still gets very angry that I change my mind 50 times a day. And we still own no assets (house, expensive car, any membership over 1y), nothing that can not be liquidated in 10min....
Yes. No to OPM. Have been asked but I can only imagine I'd do it to help out family as I have enough money of my own not to need someone elses. For me trading has created freedom and OPM would restrict that.