anyone gone from trading at home to career

Quote from EMRGLOBAL:

"As a price action only daytrader, I was extremely disappointed by their computer setups and charts."


It is hard for me to beleive that a "DAY TRADER" was intervewed for a Trading Position at a HedgeFund. No offense. Hedge funds are not to keen on "day traders".

First, many require quant level math degrees. Second, 7% of the industry will liquidate, or near there, by end of the year. That is 7% of all total Hedge Funds.

So, now your competing with MIT grad's and other "Hedge Fund" quant traders looking for a new Fund.

I deal with Hedge Funds every day. It took me a hell of time getting involved in Private Equity with out being from the "Ivy" crew and being a X day trader for Schonfeld and Last Atlantis. I do not trade but broker deals between Funds and "Joint Venture" projects that they are interested in. Money is excellent and upside is unlimited for my earnings.

However, I did inquire about trading positions and even though I deal with the Hedge Fund Community, they told me the truth of the matter. Not a shot in hell.

The simple fact is "Day Trading" to the industry is not wel respected. Not sure why, as one of the top traders at my old firm ended up starting his own hedge fund.

But the industry statistics on "Day traders" and the profitable years for 99% is known. Cash on Cash, many blow out or fail to make a consistent profit year over year. These are facts, not speculations.

Now, with the Stock Market being manipulated, controlled and influenced by the GOV. Day trading may cool down for a few years, if not a full decaded, until those that run the markets come to their senses.

There are a lot of highly qualifyed individuals out of jobs and will continue to be. This will flood the Trading world with key tallent far beyond that of "trading at home".

If your profitable as a day trader, why go trade for a "FUND" anyways? Keep on doing what you do.
More...


Depends on what you mean by DT . If you mean the sort of thrash that goes on in the DT firms which sprang up in the dot.com bubble then yes , they are crap cause they are just gamblers w/o any idea or risk control and with low Returns to risk to boot.

If you mean short term trading then I say that's a whole different ball game as usually these types can have
good risk management and can be very profitable indeed.

The point about DT trade accounts is true , anyone who is profitable should show their trade accounts over a meaningful period , anyone who does not is very suspicious esp. if they are looking to trade someone else $ .
 
You must log in or register to reply here.
Back
Top