Earning over 250K day trading at prop firm

N

neisykay

Hello everyone -

This is one of those questions that those who really know aren't going to tell and those who don't....well....but I am going to risk it anyway.

I have traded at ETG, & Schonfeld (93- 97) and now I am back full -time. I used to know day traders that were making up to a million dollars a month. I knew a handful that were making substantially less than that - but darn good money no matter how you cut it.

Since I am trading from home and don't have the benefit of being in an office or in Chicago where I knew lots of traders - I am wondering - are there great traders out there NOW making this kind of money (250K min) intradaytrading through prop firms.

Any real knowledge - not just rumor or guess - would be greatly appreciated.
 

nice to see you back ! my guess would be that there is no one making 250k or more monthly trading in the traditional prop style of the 90's.

surfer :)
 
It is definitely not as common or as much as before and it seems to take a lot more knowledge and skill to obtain. I definitely know SOME prop places have traders making 250K+ a year in both equities and futures. However you don't see it in every office you walk into anymore. IT is not like 4 yrs ago when you walk into any office and they had 5-10 traders pulling out million dollar years
 
I started in '99 and have seen some people grow their accounts at exponential rates. Never have I seen a million in a month but the way the market used to move it would not surprise me.

Nonetheless, even if someone made a million in a month their risk must have also been equally as high. Maybe your question should be directed to percentage gains as opposed to actual dollars gains.

and if this becomes the question, then yes I have seen some exponential growth in our prop firm over the last year. One guy went from making $20k a month to well over $100k a month. (isolated case at my firm). More realistically there have been many cases where traders went from making $2k /mth and now their target is over $30k a month.

This is strangely similar to what I used to see back in '00. Just look at some daytrader favorites. TASR, MAMA, WAVX now IPIX and even CSCO when it had it's bull run. Do the math.

this market is just as good as it was back in 2000 only you have more shares of lower priced stocks. Even better because now the commission is cheaper than it was back then.

good luck
 
thanks .... i appreciate that answer greatly!

The trader was at Schonfeld so..... his personal risk was minimal and they watched everyone like a hawk so.....

Good to know it is still being done.....
 
Quote from vegasoul:

why can't you make a million dollar a month NOW??

it just depends on how much risk you take, and how much capital
you have.
More...

A month? Why not a million a day. Geez, I haven't had a day under a million dollars in I don't know how long. Are you telling me that each day you can't find a stock that goes up 2 points. Just buy 500,000 shares and, voila, you have your milliion. This market is like having an armored truck bring money to your office every day.
 
Quote from I Missed Boat:

A month? Why not a million a day. Geez, I haven't had a day under a million dollars in I don't know how long. Are you telling me that each day you can't find a stock that goes up 2 points. Just buy 500,000 shares and, voila, you have your milliion. This market is like having an armored truck bring money to your office every day.
More...

What a great idea, I admit I never thought of that..while I know you are being sacarstic, I have to agree with your logic, why not a mil a day? I am sure there are traders doing it everyday. I will put that on my list of career objectives.

If u don't believe it's possible, than it's not possible for you. If u don't believe you can make that sort of money and it's not POSSIBLE that the market will not bring money to your office in truckloads, well..then it's NEVER EVER going to happen to you.

I am sorry for you if u feel that way, cause you are always going to be making 20k a month or whatever pathetic amount you are making, for the rest of your life, unless you change the way you think.
 
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