A daytrading story on CBS news

[peterhill]

"I would give up a 90k job to make even 70k trading. That's how much I despise working for someone else. Just buy less stuff and live more peaceful."

I use to think that, but sometimes I know feel that making 6 digits DOES NOT sound better than $90,000 for someone else........ Because it is not more peaceful

 

[sdtrader]

you guys are getting way too bent out of shape for what I wrote. I am NOT trying to belittle anybody. What is everyone so damn defensive for?

 

[J_Commisso]

Originally posted by sdtrader
you guys are getting way too bent out of shape for what I wrote. I am NOT trying to belittle anybody. What is everyone so damn defensive for?

Probably cause the truth will often sting...

 

[profitseer]

no problem sdtrader, Ever since I started there was always someone telling me I couldn't do it, and I never want to be one of those negative people.

Yes, I agree, people can and do make staggering amounts of money trading.

And some of those who make staggering amounts of money go through losing periods, and they talk about it here.

Where the heck else are you going to talk about it?

Nothing worse after a losing day than to have someone who knows you are a trader come up and say, "Boy, I bet you're happy. I hear the market was up a hundred points today!"

 

[birddog]

And some of those who make staggering amounts of money go through losing periods, and they talk about it here.

Where the heck else are you going to talk about it?

Nothing worse after a losing day than to have someone who knows you are a trader come up and say, "Boy, I bet you're happy. I hear the market was up a hundred points today!"


I agree. My experience has been that generally good traders that are net positive tend to harp on their bad experiences (losses) and not say anything on their good and average days.

After all you learn more from losses than you do from gains and they also stick out more. I think that profitseers numbers of 1% a day are doable and I agree that it is hard to be that consistent that you can have 60% quarter to quarter. My daily goal is $1000 but I am happy to have $500 at the end of the day. However on average I don't make even close to 5k a week.

I think that since this is a public board, there are going to be all sorts - people who make 2k per day and people who make $200 a day as well as many people that are trying to learn and don't know much about trading. I think that what sdtrader is trying to say is that you can't tell from the posts who is who. Who is the person who makes a consistent living doing this and who is the person who is "paper trading" and posting their comments. Since the people that are turning the corner and becoming profitable would like to learn more from the traders that are "hitting it" it would be great to know who is really hitting the ball out of the park.

At my firm, there is a prop traders who make 20k to 40k per month - with 50k equity and has not had a losing month in over 2 years so obviously it is doable. The question is how to get to the point where you are the trader that is "hitting the ball out of the park.

Happy trading.

 

[rtharp]

Originally posted by inandlong
There was a poll several weeks ago about how much people make. Whether or not it was answered honestly I don't know. You might look there sdtrader.

I'm curious if you have found a site that is consistently visited by traders you feel are your contemporaries. I have to laugh a bit because if not, does that mean that in your opinion you are the most erudite and skilled trader you know?

Having looked at a large amount of the available information on the internet and in books, it seems that the vast majority of traders fall within certain characteristics. I haven't seen a newsletter or book or seminar offer or website that says "Not for the average trader".

But hey, maybe I'm not worthy of the offers that do, or privvy to the websites that do. That's okay. As long as I can pay the bills, take some vacations, and grow the account, I'll stick with the regular guys.

Of course I am game, and fairly well educated. If there is a topic you would like to discuss and you are looking for some spirited affirmation or debate, I'm here for you. I can think of some other guys here who can hold there own as well.

What's on your mind sdtrader? Let's go!

In and Long

not so sure of the majority of the board

but SD_trader sit directly behind me and I can vouch for his P&L rather easily.

Robert Tharp

 

[rtharp]

Originally posted by profitseer
sdbstrader, If you are making the kind of money you are braggiing about making, then you will own the universe in a short time which is I gather the amount of time you have been making that kind of money.

actually no

as he is able to scalp a small amount of shares each day.

SD_Trader does well but he lives off his account and sweeps his profits monthly. He can scalp 500-2000 shares in and out all day long. trying to scalp 50,000 shares isn't really possible.

Robert Tharp

 

[rtharp]

Originally posted by dotslashfuture
the problem with quitting your job to trade for a living ( which seems to be the new topic of this thread ) is that you are forced to eat your seed corn. If keep working, and then swing trade on the side you have a chance to accumulate something. I don't want to be 5 yrs older with the same size account that i have now because I spent all my profits on living expenses.

The great thing about Prop/Professional

trade other people's money if you can prove to yourself you are consistent

Robert

 

[rtharp]

Originally posted by profitseer
no problem sdtrader, Ever since I started there was always someone telling me I couldn't do it, and I never want to be one of those negative people.

Well then

let me be the first to say the exact opposite

YOU CAN DO IT!

work with successful people, have rock solid discipline, and a goal to succeed no matter what

Hope that helps

Robert T

 

[Gordon Gekko]

Originally posted by sdtrader
...it just seems like this board is full of people that like to think they are smart......but dont make any money.

i'm one of those people..but i'm trying hard to change that.