How can I trade stocks for a living?

A

ahariver

I've been trading stocks on-again-off-again for six years with success. My portfolio generated a ~20% return (before taxes & fees) in 2014. I usually hold a stock for at least a week and sometimes up to a year. I do not day trade.

I've decided to pursue trading stocks full-time. What's the best route to take? Are there any prop firms that allow traders to hold stocks for more than three months?

I'm 26 years old with no college degree. My dad has connections on the street, and said he'd help me get a job if needed.
 
Why do you need or want a job, when you're a successful trader on your own?

I kind of always think of traders who work for firms and institutions average...they make there living off volume and transaction fees -- not actual performance.

I like the lone wolfs....like Dan Zanger...who grew his own personal account into an astronomical sum.o_O
 
With 100K if you moved to trading Index's via Futures you could easily ish move to full time with 10K put at risk, 10K left in reserve, 80K for putting food on the table while you master it, maybe ??

50K for me, 30K for food, yeah that would work better :)
 
You mention 20% for 2014 but thats only 6% above the SP500 with dividends.
What are the 6 year returns you mention and general strategy? Plus max annual drawdown and volatility ? If you have only traded for 6 years you have been in a monster bull market so its difficult to not be successful if net long.
 
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Keep at least a part time job to pay your bills, then set up a private pool to pool your assets with other investors, and charge an incentive fee. That way, you make money from your own contribution to the pool, and you get a percentage of profits for your other investors. If you do well, you can then market yourself as an investment adviser (you'll need licenses and registrations for that though), and quit your part-time job.
 
Jakobsberg said:
You mention 20% for 2014 but thats only 6% above the SP500 with dividends.
What are the 6 year returns you mention and general strategy? Plus max annual drawdown and volatility ? If you have only traded for 6 years you have been in a monster bull market so its difficult to not be successful if net long.
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Good wise points.
He could do it, debt free, budget small spending. Most millionaires do not have any debt on home, some do.

As far as a bear market; if you do not do as well as as bull trend;
find something like BAC orC sector ;fundamentals +Investors Business Daily,+ lawsuits + technicals agree on bear market some times..Keep good records also
 
ahariver said:
I've been trading stocks on-again-off-again for six years with success. My portfolio generated a ~20% return (before taxes & fees) in 2014. I usually hold a stock for at least a week and sometimes up to a year. I do not day trade.

I've decided to pursue trading stocks full-time. What's the best route to take? Are there any prop firms that allow traders to hold stocks for more than three months?

I'm 26 years old with no college degree. My dad has connections on the street, and said he'd help me get a job if needed.
More...

great job staying consistent and not giving up. i would say, do a mix of variety of stocks from diff caregory, like Biotech vs tech vs Mortgage to diverify. i try to mix DT and swing, but swing doing much better for me.
good luck :)
 
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