440% Return: What should be Payout

""From that moment on, I decided to trade small and fast and control risk and above all never trade family and friends money nor my own (at least not that much).""

Wizard,

Did I miss anything or you still didn't tell us how you got hired..
No firm would hire someone who lost so much money. You have to have a trackrecord and I haven't seen it in your post.
Am I missing it?
 
He did say how he got hired. A friend of his worked or a clearing firm and tried him out by giving him 25k. He ran it up a couple of hundred percent and they decided to hire him.
 
Quote from Jrmarketwizard:
They cover all my expenses, eating, living, travel and in the winter I can trade remotely in their Caribbean office.
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You should ask for free hookers. All the big boys get that!!!!!!!!!!
 
Quote from Jrmarketwizard:

LOL

If I was living back in the basement with my mother 40K would suffice.

There is also one glaring condition that is overwhelmingly ignored when trading your own capital. The subtle and additional stress of not having an insurance policy, OPM affords me a leisurely pace where I can enjoy life.

In the past running a trading operation underfunded while putting food on the table every night is not a desirable position to be in. You have to trade from a state a "not wanting". Mind must be clear and free of any restraints.

This game pulls and exploits all recess of insecurities a man possess, it is not natural and hence why so many fail. Its only when you finally don't fight it falls in place
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Well said!. Trading is all psychology. If you have a stable source of income outside of trading your can do much better than having to earn your living expenses from the market.
 
Nice turnaround story Jrmarketwizard. How'd you manage to break into the hedge fund business?
I'd stay with managing OPM. When you trade your own money, you can rationalize away poor performance and remain in denial - you can't do that with OPM.
 
Quote from aeliodon:

Nice turnaround story Jrmarketwizard. How'd you manage to break into the hedge fund business?
I'd stay with managing OPM. When you trade your own money, you can rationalize away poor performance and remain in denial - you can't do that with OPM.
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That's true. I also prefer someone watching over me when I trade so I won't trade impulsively. :)
 
nice to see that there can be a thread constructively discussing success of some other member without asking for proves, shit etc...

maybe EliteTrader is Elite after all....:cool:
 
One piece of advice I'd give to other is to trade small small small, and have a mentor or wife overlook what you do. You need accountability.

A disproportionate number of traders are filled with a toxic waste called EGO. The madness of wanting to be the best and the richest without reflecting on what their true worth is...

This game will rip your lungs out just when you think you are king of the world.
 
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