How much do I need to make to be a trader?

[oldtime]

well, some of us are just not very skilled at doing anything else

 

[WinstonTJ]

You don't need to make a dime to be a trader - as a matter of fact you could lose a lot of money and still be a trader.

 

[JB3]

^ I had a chuckle at that one.

 

[yiehom]

Like in the saying "to make a million you need to start with two"

Quote from JB3:

^ I had a chuckle at that one.

 

[traderslair]

Hahahahahaha

Do you buy Ferraris and Yachts with % or with $ ?

I just love Elitetrader. Always a good laugh on a monday morning.

 

[Option_Attack]

Quote from marketsurfer:

Either they are wealthy anyway, have other income or live like hermits -- but sure, they exist.

I do need content, any ideas??

Why don't you interview this guy? It would be interesting to see how his trading has changed over the years: http://www.amazon.com/Trade-Living-Wiley-Online-Trading/dp/0471355143

 

[007Arb]

Quote from Option_Attack:

Why don't you interview this guy? It would be interesting to see how his trading has changed over the years: http://www.amazon.com/Trade-Living-Wiley-Online-Trading/dp/0471355143

http://www.elitetrader.com/vb/showthread.php?s=&postid=3690338#post3690338

 

[Traveler]

I'm going to use simple math on this. 140% total return is roughly 35% annually. If I'm reading that chart right your worst monthly drawdown is 40%.

I'd say the price of admission to being a great trader is having CAGR/Drawdown being well over 1. You're not really there yet, but you're definitely beating the hell out of the SP500. What kind of leverage and how many trades to get those results? What's your Sharpe?