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I broadly agree with you up to a certain limit. If you are specialist you will get paid big bucks up to a limit. A specialist who master a highly technical topic can get paid a lot more than a generalist at the lower levels. But you must realize the highest paid people in Corporate America are...

That's not necessarily true. Jim Simons run Rentech, arguably the best quant hedge fund in history with average returns of 38% over decades with very little drawdowns. He hires the best mathematicians, physicists, computational linguistics, computer scientists, etc. Almost never hire MBA types...

Hi All, Thank you for all of your thoughtful comments and opinions! Much appreciated. I realized I phrase the question wrong. Or not as clearly. What I really really wanted to ask was this. Suppose you've mastered a couple of trading patterns. For example, you are good at identifying breakouts...

If you've traded long enough then you'll eventually find some good repeating technical patterns that seems to be somewhat consistent. Then the trick becomes recognize that pattern in REAL-TIME and eliminating the false positives. I've been practicing on simulator a few patterns that seem to be...

While I agreed with what you are saying abstractly and in general, but in particular I don't think it's a very scalable approach. Thanks to my current arrangements where I do analytics consulting on-site and work remote the rest of the week, I have the time and flexibility to daytrade a few days...

Agreed. Or if you are a mid-career technology professional earning well over six figures(not including bonuses and benefits) then trading full-time is a very risky venture. That's why I'm only trading part-time and on the side despite the urging and encouragement of many on here to go...

Just a quick update. I've been working on my analytics consulting biz. Hopefully things will continue to be steady there. I like the stability of getting biweekly paychecks again so far.So one less thing to be concerned. On my days not at client onsite, I've started to daytrading futures again...

I was doing my remote analytics consulting work and trading a little bit. I "knew" it was going to be a down day and yet still lost money shorting! Ridiculous! I short then a massive SPIKE UP happens! Of course eventually it would go down had I just held. Ironically, I ended up making money on...

During my first go at trading, I've blew away several small accounts. I mean it never got to ZERO like @Xela said but it was effectively zero since it was not enough margin to trade anything meaningful. This time around I've gotten better. I'm also a little bit older and wiser and with other...

Interesting you brought up all these complications. I use IB and I don't think it's any more complicated to open an account in IB as LLC(I don't know about S-Corp). It's just an entity. Anyhow, I'm not ready to do LLC/S-Corp until I make significant profits in trading. This is not the case...

Yes

My daughter is too young to be thinking about braces yet. I bought insurance through the marketplace. So far, it has been reasonably priced though I can imagine it going up over time as I want more coverage and her needs changes. Someone told me about SEP IRA to reduce AGI. You can put up to...

I'm doing my taxes now. TurboTax does the prior year comparisons. I had some good years at steady high paying corporate jobs. 2018 is scary and pivotal. I'm doing my analytics consulting biz now. It's small(one client) but hopefully will grow over time(??). My side trading has been net negative...

LOL. I do NOT compete. I SUCK as a daytrader! That's why I do not depend on it to support myself! I do technology consulting. I trade rather unsuccessfully. Hopefully, I will turn it around in 2018.

They DID do electronic trading and were an electronic trading firm! Did you read the article? It's just they are not as competitive and fast as the bigger guys. People think HFT and electronic are all peaches and glory! It's not! It's the most competitive industry out there. You need the...

The last couple of days I've been chopped up on YM. When I short I get stopped out then it goes my way. When I'm long I get stopped out then it goes my way. So, now I've been just observing. My stops are probably too tight and I can refine the entry just a tad more. Gotta go to work in 30mins...

@Cabin111 : Thank you for posting the history of the 2 major crashes. I have automated stop losses in place nowadays. Hopefully that will not happen to me.. hehe

Thank you for your kind words. There were some really dark days/months in the beginning. The pain is still there though less now as I focus my energy on raising my young daughter. We are in different life stages. I'm still a working professional with probably a few more decades until...

You do have some good points. Everything has their pros and cons. If I go back to corporate, then I wouldn't be daytrading full time right? I would probably have at most 1-1.5 hrs in the morning for daytrading then head to work for a full 40hrs+ week. I know you haven't read the entire thread...

@Handle123 : Thanks for the encouragement. I'm a bit frustrated today. My stops are too tight. I lost money shorting in a down market! Due to the spikes! I love my hotkeys with automatic stop loss! Thanks to @Xela suggestions! Saved me a lot of money! I'm really a chart reader. I should also...