Curious who else here at ET trades stocks "retail" full time (no other source of income). I have for the last 2.5 years. Seems like our small subset of the board may have a lot in common if we care to be in touch....
Stocks and futures, are my income. Retail for both, although I have been looking into the professional side for equities, just not sure that there is a big reason to do it.
I've traded retail full time for a little over 3 yrs. It's my primary source of income. I'd be glad to chat with you and other profitable retail traders.
Which broker(s) do you use? Which ones have you tried? I mainly use IB and have yet to find anyone better.
I've looked into it and "going pro" has no benefit for me either. It would seem that some of us "retail guys" might have a lot to share as far as which brokers we use, which one's we've used and left and possibly what sort of accounting systems we use. Personally, I formed and trade thru and LLC, though it's all my money...
Since I've gone full-time I've only used IB. Before that I had only used the web-based brokers (ETrade, Datek, etc.). I agree IB seems to be best. I've come to the same conclusion regarding going prop. Just can't quite justify the hassle. The big reason would be if I outgrew my capital or my volume really grew. I trade as a Sched C sole proprietor.
Shred- Thanks for the reply. It's refreshing to know you and others are out there. Amazingly, it really does seem as if most on ET may not even trade or might be an "occasional/newbie" trader at best. Also, while it's sometimes really great entertainment, i kinda do get bored reading about the latest pro-shop rumor and/or pissing contest.
Very true. I haven't come across that many people who I can confidently say are making a living trading retail. Probably the only other profitable retail trader I'm aware of is Mr. NBBO. I guess technically mksummny is too since he isn't trading prop. I'm sure there are others. Let's see who steps forward. I keep saying I'm going to go prop, but keep finding excuses not to. If IB dropped their commissions to a straight .005 I'd be set. I'm not holding my breath.