Compensation for traders at top firms?

Hitman · Apr 3, 2002

I think you need to check your facts before you start to talk smack as Donnie posted his own OO numbers before and it is nowhere near $1000 a day.

I am not saying Bob can't do it but until you see the account statement a few big days mean nothing. Just because the guy had a few 40K days doesn't mean he can hit eight figures a year, which was exactly what you said about Bob a while ago.

Are you even trading or is the rule of average that hard to understand? I have had 5K days last year and my average was $300 a day, I have seen people with multiple 10K day's to average $500 a day.

And keep in mind your comment was about Donnie and him bringing out his bigger brother doesn't really help his case, we are talkng about Donnie here and who cares if his last name is Soros?

nitro · Apr 3, 2002

hitman said
it takes a LOT more than 15 minutes a day to average $1000 a day for sure.

This was _ONLY_ referring to Don? Looks like it is a generalization to me.

I am not saying Bob can't do it but until you see the account statement a few big days mean nothing.

Well, I don't think we are going to get account statements, so I guess we will have to agree to disagree.

nitro

Hitman · Apr 3, 2002

Nitro:

Let's put it this way, to AVERAGE $1000 a day, with a high churn strategy like the OO, you have to be doing 4-5K shares per position. With 2000 shares I think you can probably AVERAGE $500 a day when executed properly.

By the time you actually does that much size with the OO you will spend a lot more time a day doing research and stuff, ever wondered why Bob doesn't put up 1000 posts in ET?

So my statement of "it takes more than 15 minutes a day to average $1000" still rings true.

nitro · Apr 3, 2002

...Are you even trading...

Huh? Please expand on this question? Do you mean do I trade for a living, or am I trading today? The answer to the former is yes, the answer to the latter is no.

But what does that have to do with Don's numbers or what a top tier trader can make on OO

..or is the rule of average that hard to understand? I have had 5K days last year and my average was $300 a day, I have seen people with multiple 10K day's to average $500 a day.

pffft! Lets see. Perhaps a trader should be more interested in the Mode then. Go get a book on elementary Mathematics if you are going to make statements like that.

nitro

nitro · Apr 3, 2002

You keep changing your posts on me - I can't keep up.

Let me know when you are done "cleaning" up your posts so that I can respond to them without having the rug pulled out from underneath me.

nitro

Hitman · Apr 3, 2002

All I am saying is Don is not making $700-$1000 a day with his OO, doing 2000 shares, 15 minutes a day. And I am willing to bet everything I made today (it is not a spectacular day but ok, if you are willing to bet check my journal later) with you that Bob is not making eight figures like you claimed, not even close (unless you calculate leeching).

I don't know why would anyone be offended by that leeching comment, I mean what heck, that's how the firms bring home the bacon afterall.

nitro · Apr 3, 2002

Nitro:

Let's put it this way, to AVERAGE $1000 a day, with a high churn strategy like the OO, you have to be doing 4-5K shares per position. With 2000 shares I think you can probably AVERAGE $500 a day when executed properly.

Yes, but forget about AVERAGE - you want the mode, or a moving median.

By the time you actually does that much size with the OO you will spend a lot more time a day doing research and stuff, ever wondered why Bob doesn't put up 1000 posts in ET?

OK - you got me there. Or even 820 posts, or even 453 posts...

So my statement of "it takes more than 15 minutes a day to average $1000" still rings true.

Got me again. But, you gotta be kidding if you are going to get me on this technicalilty...

nitro

Hitman · Apr 3, 2002

I think AVERAGE or MEAN is the only number that matters in professional trading.

And I never said I am as good as Bob, and 820 posts is a reason behind that, and I think the same can be said about Don.

Don Bright · Apr 3, 2002

Originally posted by Hitman
Nitro:

Let's put it this way, to AVERAGE $1000 a day, with a high churn strategy like the OO, you have to be doing 4-5K shares per position. With 2000 shares I think you can probably AVERAGE $500 a day when executed properly.

By the time you actually does that much size with the OO you will spend a lot more time a day doing research and stuff, ever wondered why Bob doesn't put up 1000 posts in ET?

So my statement of "it takes more than 15 minutes a day to average $1000" still rings true.

Bob has his "input" here quite often. And we rarely do 'research" - what the heck are we going to "research"? We do have a few hundred traders to keep an eye on (which can be a struggle sometimes). I leave the computer on to elite and 2 other boards, it helps with the magazine articles and "networking." This does not interfere with my trading...

One question, Hitman...why do you call the opening play a "high churn" strategy...to me it is one of the most efficient trades...several pennies per share profit on average?? Just curious...??

nitro · Apr 3, 2002

All I am saying is Don is not making $700-$1000 a day with his OO, doing 2000 shares, 15 minutes a day.

Don probably _AVERAGES_ soemthing like $700-$1000/a day, but his _MODE_, as you point out, a _FAR_ more important calculation, is _NOT_ $1000, probably more like $300.

And I am willing to bet everything I made today (it is not a spectacular day but ok, if you are willing to bet check my journal later) with you that Bob is not making eight figures like you claimed, not even close (unless you calculate leeching).

Well, I can't _PROVE_ it to you as I do not have account statements... As I said, we can agree to disagree...

Why do you call having a business leaching?

I don't know why would anyone be offended by that leeching comment, I mean what heck, that's how the firms bring home the bacon afterall.

Because calling someone that provides a service is not called leaching. In your heart you know that - you are one of the most pure of heart people on these boards or on the planet - why falter like this?

Fight with Don, fight with me, but fight with _HONOR_

nitro