Im referring to the traders and the guys featured in the magazine. The magazine was making 8 figures back in the mid 2000s now the ceo randall lane is a writer at forbes
I LOVED Trader Monthly magazine (I wonder what happened to the editor, Magnus Greaves--now that's a great name). I felt rich just reading it. I'm trying to collect all the issues (doing the same thing with Omni magazine from the 80s.) Does anyone have TM issues they care to part with? PM me. lux
I'm not sure but I think you or someone similar like name started a topic about this before without realizing the same names of fund traders are being mentioned again in that Trader Monthly issue except for a few such as Andy Priston. Andy Priston whom I last spoke with many years ago sort'uv lives here in Québec (still has a condo here). He's a former refco trader and at last heard was still making millions via his own firm. He resides in both London England and Montréal Canada. A lot of traders moved here beginning in the early 2000s because of the provincial tax incentive (huge tax break) for moving their trading business to here in the province. He's mainly a futures trader by the way. There's countless of threads here at ET that profiting in futures is just not possible...even by a few on your list of top ET traders (they are stock traders) demanding proof that one can trade futures profitably. I remember some of the stock traders here at ET disssing the guy because he "only" made 10million to 15million per year. I believe a few more names on that list in those magazines consist of other traders that had exchange seats and working for themselves via their own accounts. They are not working for a firm and they are consider "private traders" although not really "retail traders" due to the type of resources they use...resources that the typical retail trader doesn't have access too.
It seems most active members now are investors or part timers dabbling, it seemed there were a lot more active members trading full-time pre-2010.
This could be the real reason because I've seen a lot of guys here lately say they have another job that's their primary income and that they trade on their free time or days off from work. Yet, that's the smart thing to do in today's economic environment...two jobs or a backup plan assuming trading is profitable. Its also smart because today's trading environment is not like it was when investing and trading became so popular in the 1990s. So yeah...that financial crisis of 2008 - 2009 was a game changer and not just for retail traders. I remember all the news about all the institutional traders losing their jobs back then. Simply, it impacted everyone.