Hedge Fund Dream Job is Vanishing
- Thread starter trader99
- Start date
That was my point. Perhaps I didn't express it clearly. Guys in nice suits just buy and hope with FAANG stuff, sell themselves as hedge funds with sophisticated strategies. Meanwhile there are hedge funds with truly sophisticated strategies that are market neutral and properly hedged.
BOTH are considered hedge funds yet they have close to nothing in common. So saying "hedge funds are BS" in absolute terms is ridiculous. You cannot group them into one entity.
Congrats!! Good for you!! It's a good thing that we talked you into keeping your corporate job.
You are doing well in crypto. That's good to hear. You are doing better than me in that aspect. I lost count of my losses in my crypto long time ago. LOL With the market tanking, I think it's only a matter of time gold will go up. You just have to be patient a bit. Given that Trump will want to have the market propped up so the gold bull might not last long so be prepared to tp fast.
Yes, going the corporate route was a good choice! Thanks for the advice! I felt I was getting closer to being able to hack this trading game. While it's true that my part-time swing trading results have been decent , I definitely still need the steady cash flow of a corporate job now. To be super sure, I feel like I should wait another few years to build up a nice cushion and get rid of all of my bad trading habits and mistakes.
The one down side of trading is that your expectations keep getting up. In my old loser days of daytrading, making a few hundred bucks was exciting. But now my P&L swing in the thousands and I don't get too excited. When I book profits I always feel like it should be bigger. That will come in due time...
The other day I tried to daytrade CL, which historically has been horrible instrument for me. I booked $500 profits which historically would have been a decent daytrading profits. But since now that I trade on a longer term horizon,$500 felt like noise and a waste of time. I will stick with swing trading.
I still think there are profits to be made in daytrading and adding that as part of my portfolio of strategies is good. I just don't have time to daytrade. I feel like it can definitely smooth out the equity curve if done correctly since in swing/position trading I'm holding for long time periods.
I'm doing fine in crypto. It's because I don't HOLD! I buy and flip it. I short and then cover. I should have held onto my shorts longer. Oh well.
I hope you are right on gold. I hold a sizable option position in gold that expires in 1/18/19. So in a month or so gold better explode to the upside. I'll let you know how it goes. If not then I'll just dump it and take the loss.
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I haven't daytraded a while. This morning since I have a little time before going to work I decided to scalped a little. Made $326 net scalping CL of all instruments. Holding each position less than a minute. In most cases less than 30 seconds. haha.
Kinda of fun. Not my core style. But something to consider to diversify a portfolio of strategies.
Kinda of fun. Not my core style. But something to consider to diversify a portfolio of strategies.
Well the market just tanked for the 2nd day since Tuesday and judging from the futures, it looks like it's another down day tomorrow. Your gold should go straight up tomorrow for the 3rd day in a row. I think gold is going to continue its up streak until there is any tangible trade agreement between US and China. With the arrest of Huawei's CFO, things are not looking good, for either country.
The futures is moving up nicely but the options aren't going anywhere. I thin it will require an extraordinary move in the underlying for the options to be deep ITM.
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What's a nice cushion for you?