Are you a successful at home day trader with no other source of income who began with modest means?

[DHOHHI]

Maybe the best solution is to start trading european trading hours. That way you can work and trade. But you will not have a lot of time to sleep. Start at around 2 o'clock in the morning to trade, then go to job and when you come back home go to bed.

Back in 1995 I did swing trading while still working. After a year of that I felt I was ready so I left my job in April 1996. I think your proposal can leave a guy dragging from lack of sleep.

 

[Pigsky]

Am I the only one who sees that as a positive? I'd much rather learn market behavior itself (i.e. Wyckoff, Andrews) which is somewhat timeless albeit less exciting, than spend energy on ECN execution flaws which by their very nature won't last very long. Easy money would be nice, sure, but I'm building a career I want to depend on, not seeking adrenaline. (And long-term, I'd rather tend towards multi-day/week positions for income than stay riveted to my screen minute-by-minute as I do now while learning.)

I think the difference in an efficient market is that there isn't much "edge" available. Therefore any profit you make is coming solely from the risk you take on. When you have an edge, some % of profits are coming from the edge. That is different than making money solely from risk assumption.

Nothing wrong with that of course. S&P has tripled since 2009 and you did not need an edge or inefficiency to capture some of that. So not to say there are no ways to make money in efficient markets. I am only saying that I'm sure it is much easier (and you can make a lot more and get some real alpha) when you have a real edge or inefficiency to exploit.

That is my understanding of things. I agree minute-by-minute day trading is not the way to go in today's markets.

 

[kut2k2]

S&P has tripled since 2009 and you did not need an edge or inefficiency to capture some of that.

Actually you had an edge: the bull market. This is why virtually everybody wins in a bull market (excluding the clueless permabears, of course). Even the braindead buy&hold strategy is a winner in bull markets (and it's important to realize that a bull market is the only place where b&h is a winner). Speaking more broadly, every trend (up or down) is an edge once you figure out how to exploit them.

 

[prc117f]

150k trading capital, multiple oceanfront mansions from trading 150k?

Hummm. Sounds like a nice tall tale.

 

[DHOHHI]

150k trading capital, multiple oceanfront mansions from trading 150k?

Hummm. Sounds like a nice tall tale.

Actually it sounds like you can't read.

Why trade with more $$$ when you don't need to?

Oh well, reading comprehension is an issue with some people.

 

[prc117f]

You seem pretty clueless. The more money you put in the market the more incentive you offer someone or some bank to take it from you. Going big is the one and only guaranteed way to commit suicide.

Going big to make small profit is what idiots do. Going small and make big profit is what geniuses do. See how far you are away from success ? Trading success and survival is not hard at all. But it will take someone with basic ability to think. This ability seems rare on the internet.

Larger capital means you need less leverage to make earning income. i trade SPY and its options, max borrow against assets is 10%. So I use a small amount of margin and I never have a concentrated position.

I would not be able to do what I do with a 25k account etc..

 

[prc117f]

Actually it sounds like you can't read.

Why trade with more $$$ when you don't need to?

Oh well, reading comprehension is an issue with some people.

I find it a bit hard to believe that you are making a good earning,living in multiple waterfront mansions by trading 150k worth of capital.

 

[marketsurfer]

I find it a bit hard to believe that you are making a good earning,living in multiple waterfront mansions by trading 150k worth of capital.

He made his money in another career, invested well, and is now doing what he wants. I don't think the guy actually supports much overhead with $150,000 of capital. But, heck, for all I know the dude is like 85 years old and saved all his life-- so I don't doubt his claims. surf

 

[DHOHHI]

I find it a bit hard to believe that you are making a good earning,living in multiple waterfront mansions by trading 150k worth of capital.

I find it even harder to believe that you either (a) didn't read my posts or (b) didn't comprehend them.

And trading $150K one can generate a very good return and roll excess profits into longer term investments. My trades are day trades, swing trades and buy and hold. My annual return is not based on $150K.

PS Please point me back to a post that I said I live in mansions. I said I lived ion a oceanfront house and on an island in the southeast.

 

[DHOHHI]

He made his money in another career, invested well, and is now doing what he wants. I don't think the guy actually supports much overhead with $150,000 of capital. But, heck, for all I know the dude is like 85 years old and saved all his life-- so I don't doubt his claims. surf

No, I didn't make my money in another career. I merely saved enough to start with $90K back in 1996. You do understand how much one could have made in the last 19 years trading (and investing) I assume. You do understand the concept of compounding .....

Think of some heavyweight like Ken Griffin @ Citadel. Don't you think his assets multiplied over time? Certainly not making a comparison but on a very small scale I'm trying to point out that there are many ways to play the markets from intra-day to generate income to swing trading and long term investing to grow ones net worth. I sure as heck didn't have 2 houses ocean oriented back in 1996.

And no, I'm not 85 ... have another 3 decades until I reach that age.