Hang Seng (HSI), Kospi 200 (K200) Trading Journal! (14 Year Old Trader)

Got hammered today in both prop and futures accounts.

Lost $530 in my futures trading, and $180 in my prop account.

Since inception I am up however $450 in my prop, and up $50 in futures.

My prop account stands at $3250 and futures, at about $7000

I'd like to try and take these accounts up $2000 next week altogether.

I am going to stop trading today. Take a breather, play some tennis and get studying for next week.

I'll post some charts later.
 
Quote from julian0625:

Got hammered today in both prop and futures accounts.

Lost $530 in my futures trading, and $180 in my prop account.

Since inception I am up however $450 in my prop, and up $50 in futures.

My prop account stands at $3250 and futures, at about $7000

I'd like to try and take these accounts up $2000 next week altogether.

I am going to stop trading today. Take a breather, play some tennis and get studying for next week.

I'll post some charts later.
More...

Ugh, tough beat.

I haven't read the entire thread, so I apologize if it's been asked or explained... how can a 14yo run a prop account?
 
Quote from jedwards:


Also, the big money is in fund management not trading. Instead of scalping, you should be learning how to trade for longer durations, and how to manage larger amounts of money. Also get your CFA, MBA, PhD in finance, etc, so that you have the credentials to get people to invest hundreds of millions or billions with you, and then taking 2 + 20 on that money. This is how the real wealth is generated, not through trading. John Paulson made over $5 billion last year alone. No trader will be able to trade that amount cleanly.
More...

Day trading for yourself and managing other people money is 2 completely different jobs and worlds.

I think what most of day traders are looking for is freedom (doesn't mean being rich like a zillionaire) and they love to be independent.

The experience of Marty Schwartz is particularly enlightening: after making tons of money as an independent trader he wanted to make more, get those 2-20 (even 4-25 :) ) but he couldn't help with the pressure of investors and wasn't able to make rationale decisions.

Also it is commonly accepted that only 5% succeed but how many Paulson do we have ? I'm sure the odds of making his kind of money in asset management are much less.

Good luck to you Julian.
 
Quote from atticus:

Ugh, tough beat.

I haven't read the entire thread, so I apologize if it's been asked or explained... how can a 14yo run a prop account?
More...

Yea, tough day.

There are various loop holes like having the account under another persons name etc. I have met with the CEO of the firm so we also have a relationship in that sense.

Nonetheless, the firm has had 16 year old before so it is possible.
 
Quote from Joman:

Day trading for yourself and managing other people money is 2 completely different jobs and worlds.

I think what most of day traders are looking for is freedom (doesn't mean being rich like a zillionaire) and they love to be independent.

The experience of Marty Schwartz is particularly enlightening: after making tons of money as an independent trader he wanted to make more, get those 2-20 (even 4-25 :) ) but he couldn't help with the pressure of investors and wasn't able to make rationale decisions.

Also it is commonly accepted that only 5% succeed but how many Paulson do we have ? I'm sure the odds of making his kind of money in asset management are much less.

Good luck to you Julian.
More...

At this point in my game, to tell the truth, I'd like to kind of do something of both. For example, the reason I trade is like you said, not only for the money, but also for the rush and the drive of trading. However, at some point I would like to run a fund of some sort, and just try to make 20%-50% a year for people invested. It is really my goal to acquire as much wealth as I can, so when I pass I can give 99% to charity like Warren Buffet and Bill Gates. The list goes on :)

Thanks for the wishes!
 
Quote from julian0625:

Yea, tough day.

There are various loop holes like having the account under another persons name etc. I have met with the CEO of the firm so we also have a relationship in that sense.

Nonetheless, the firm has had 16 year old before so it is possible.
More...

Hahaha, that's great. I traded in my parent's account before I became "of age" but trading prop at 14 has got to be some kind of record.
 
Quote from atticus:

Hahaha, that's great. I traded in my parent's account before I became "of age" but trading prop at 14 has got to be some kind of record.
More...

Haha Thanks!
 
Quote from julian0625:

At this point in my game, to tell the truth, I'd like to kind of do something of both. For example, the reason I trade is like you said, not only for the money, but also for the rush and the drive of trading. However, at some point I would like to run a fund of some sort, and just try to make 20%-50% a year for people invested. It is really my goal to acquire as much wealth as I can, so when I pass I can give 99% to charity like Warren Buffet and Bill Gates. The list goes on :)

Thanks for the wishes!
More...

Okay, most of this board is filled with traders so your only going to get a limited opinion. Take it from an investor, what your doing, your going to regret it in 10 years time.
Enjoy your childhood man, go talk to some chicks, study to become a lawyer or doctor, but don't waste your time trading!!

There is very little money in trading.
I'm shocked your parents put up with you..

Your never going to manage any money because your going to be erradic as f--- by the time your 20.
 
Quote from exaltedangel09:

Okay, most of this board is filled with traders so your only going to get a limited opinion. Take it from an investor, what your doing, your going to regret it in 10 years time.
Enjoy your childhood man, go talk to some chicks, study to become a lawyer or doctor, but don't waste your time trading!!

There is very little money in trading.
I'm shocked your parents put up with you..

Your never going to manage any money because your going to be erradic as f--- by the time your 20.
More...

I disagree that there is very little money in trading. With the prop firm I am partnered with, I have consistently made money 4 out of 5 trading days for the past two months. I have sat beside traders who have made $50 000 in one day HFT futures and stocks.

Nothing I do is a "waste of time". I trade because I love to, and there is significant financial freedom to be had.

I invest as well I might add. The bigger money is made in swing trading and position trading. I know that. However, at this point in time, I don't want to wake up the next day with a stock down 50% and tell my parents it wasn't my fault.

I am blessed to have parents that support me so much through the ups and downs of the stock market and trading.

Oh and btw. I am enjoying my childhood very much so.

I never regret anything I have put my heart and soul into. I do it for a reason.

LOL why would I want to be a lawyer or a doctor XD. There is way more regret in those jobs... worrying about patients, clients ect ect.

My father is a real estate agent, and there has been so much stress put up upon him because of him worrying about clients. The last thing I want to do is worry, and trading wise I don't worry because I know I am going to be successful.

All you naysayers are itchin for a fight :D lol jk
 
You must log in or register to reply here.
Back
Top