I believe you. But it doesn't matter does it? The bogleheads are lost in their investing quest of % return on capital. For them anything over 20% is creasy. Never mind that you did not publish your net worth so I am not sure from where they got these numbers. Leverage is a very very bad word. How can you do that??? And the guys that recommend you to do OPM should send you 500,000 each for you to manage right away. If they can take the risk that is.
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How many people here actually make a living?
- Thread starter Crimson
- Start date
I believe you. But it doesn't matter does it? The bogleheads are lost in their investing quest of % return on capital. For them anything over 20% is creasy. Never mind that you did not publish your net worth so I am not sure from where they got these numbers. Leverage is a very very bad word. How can you do that??? And the guys that recommend you to do OPM should send you 500,000 each for you to manage right away. If they can take the risk that is.
Obviously it matters little to me if your returns are real or not, but I am still asking a simple question. Why are you throwing away a huge amount of money?Quote from JORGE:
The percentage returns are not as great when considering 4-1 leverage. I don't care if people believe me or not, just showing that it is possible. I'm not selling any service and have no reason to post a journal.
You can manage other peopleâs money and make tens of millions, or open an account with a prop shop and pay less per share and get at least 20 to 1 leverage. So why are you throwing all that money away? I assume there is a logical reason.
Quote from Zentrickster:
Quote from opt789:
So
Why not manage opm? These returns make you one of the best traders in the history of the world. You could easily set up a small hedge fund and be making tens of millions a year. I used to be an executive of a small fund and a truly talented trader can hire or outsource all the busy work and non trading related issues so he can just focus on whatever he wants to do. Since, as I said, you can set up a work environment however you want then saying you like the lifestyle of an independent trader and that is why you donât manage opm doesnât really make sense. So is your trading methodology not scalable, too risky, etc. to attract opm? [/QUOTE
Cause no one will trust or believe the returns. Investors will run from those returns. Get real
Easy to prove to future investors in your small hedge fund... Just tell them in advance what the market will do tomorrow and from where, and you'll have a line around the block.
Quote from Hurricane:
You can make money trading. I've been doing this "hobby" for ~ 15 years, ever since Internet trading became possible. I had some good years ($30-50k) and some bad years. Was up a bit over the years but broke out a couple of years ago with profits of $152k last year and $374k year-to-date. And trading isn't my real job!
One thing that helps is capital. I have a large brokerage account (just went over $1M in this week's run up) that I've set up for my upcoming retirement. My trading (mostly forex) is on margin with essentially no practical limits. My entry sizes are typically $50-500k.
Only thing is, I can't really explain how I do it. It's taken many years to gain experience, figure out which markets to trade, work on my money management and psychology, etc. There's no short cuts to successful trading.
Sounds like you could explain it in 5 minutes but are smart enough to keep your pie hole shut. Why do you need $1M to trade? Sounds excessive...
The smart, successful traders I know keep enough to trade only and move excess profits into other investments to stay hungry.
You run the risk of blowing out. Good luck.
Thats hardly a fact. I started out with $20,000 that I barrowed, and I was doing fine within about a year. That was before I even starting selling stuff too, so there is no need to get into that.
I think that ideally you would start with 50 to 100K, but it's hardly required. Plenty of people are still making great money, I was just in LA and Las Vegas this weekend hanging out with a guy, Nik, who is still mostly a short term trader (very rare for him to hold anything for more then 7 or 8 days) and he is up $30million this year, on his own money using no leverage. He made $35million last year, $10million the year before that.
He started off in 2001 (probably the worst time ever to start) with $8000.
Brandon
I think that ideally you would start with 50 to 100K, but it's hardly required. Plenty of people are still making great money, I was just in LA and Las Vegas this weekend hanging out with a guy, Nik, who is still mostly a short term trader (very rare for him to hold anything for more then 7 or 8 days) and he is up $30million this year, on his own money using no leverage. He made $35million last year, $10million the year before that.
He started off in 2001 (probably the worst time ever to start) with $8000.
Brandon
Quote from Zentrickster:
NONE make a decent living. Without being wealthy first. Working with a prop shop or living below the poverty level or having other sources of income. That's a fact jack!!!
Quote from opt789:
Obviously it matters little to me if your returns are real or not, but I am still asking a simple question. Why are you throwing away a huge amount of money?
You can manage other peopleâs money and make tens of millions, or open an account with a prop shop and pay less per share and get at least 20 to 1 leverage. So why are you throwing all that money away? I assume there is a logical reason.
Most of the trades I make are very short term and not scalable to more than a few thousand shares. There is no way I could make the same types of returns managing a fund. I also can't stand the idea of being accountable to anyone but myself.
I could go through a prop shop and pay less in fees, but I don't need any more leverage. I really don't like taking a lot of risk and have had to gradually work up to larger and larger size.
All things considered I could make more money pursuing the alternatives you suggested, but I lead a relatively stress free life and enjoy what I do. If I could bring in a mil a year, I think I would be pretty happy.