I must be out of my mind!

[krazykarl]

Quote from cashmoney69:

"Don't take this personally"
-- Hmm...kinda hard not to when your last sentence ends with "You sound like every other "I want it now" kid that hasn't paid any dues and most likely will start crying when things get tough. ".

News flash, this is a "I want it now" generation, whether you like it or not. In fact, you help fuel the "I want it now" society. Are you telling me that you never went to a fast food restaurant?..that you dont have a cell phone, or you dont download music online?... The world is moving forward.

"Why don't you try complete devotion and time to your goal and then come here telling us that you're out of your mind?"
-- I sit in front of my computer from the minute the market opens, to the minute it closes, give or take an hr. I dont have to because of my trading style...I choose to.

"without an education, you ain't got much. The only thing thats going to get you anywhere without a degree is your drive and ambition"
-- Yea, I guess those white collar, pencil pushing, paper shuffling, 9 - 5'ers wont look at me, but I dont care, I dont want their future .

with your attitude the market will destroy you, then eat your young.



happy trading.


edit: take the losses i have and see what you have to say.

 

[Thunderdog]

Quote from cashmoney69:

I want to run my own Hedge fund by the time I'm 25. I currently dont have a College degree. Most the money would come from friends and family.

And what, exactly, is the point of this revelation?

 

[Spooz Top]

Quote from Ripley:


I say its very much possible. One of my friends from college moved to NY after graduation, and started his as a 26 yr old. [/B]

i think it would be a good idea if he`d put together a string of winning months & actually be profitable first..........i mean when you put together the prospectus to solicit clients......don`t you think they might want to see a winning track record before they fork over they`re $.

BTW,just for laughs,what do you plan on charging these "clients" of yours................2% to 5%?????????????/

 

[TRS]

Quote from Mike805:

Don't take this personally, but I don't think you even know what hard work is yet.

Why don't you try complete devotion and time to your goal and then come here telling us that you're out of your mind? Guess what - without an education, you ain't got much. The only thing thats going to get you anywhere without a degree is your drive and ambition. Do you know where you get drive and ambition if you aren't born with it? Through character building - yeah I know its probably something you heard before but its true - you're ganna have to fail, get back up, get kicked and challenged before you make ANY monetary/personal progress (yes your mind and character is what makes you money no matter what you do, the markets are just another means).

Thats just the way it is, you don't get somethin' from nothin'.

You sound like every other "I want it now" kid that hasn't paid any dues and most likely will start crying when things get tough.

Advice man.

 

[maxpi]

I don't put people down that have big goals in trading. Do some math.... if you can work at systems until you have one that does 2% per day on average you will multiply your account by 144 in 250 trading days [assuming you take nothing out of the account]. 1.02 to the 250th power is 144, get a calculator and check it out. Goal one is to get a 2%/day strat. that can scale up to 144 times whatever your have now and trade it for a year. To further break it down, if you gained about 1/3 percent per hour, you have your 2% per 6.5 hour trading session. If you are leveraged 4X intraday your instrument only has to gain 1/12 percent per hour. That amounts to 1 friqqing cent on a $12 issue, once an hour. If you can make a penny per hour on a $12 issue all day every day you can take a $2000 account to $288,000 in a year.

 

[tradewiz50]

Quote from cashmoney69:

I want to run my own Hedge fund by the time I'm 25. I currently dont have a College degree. Most the money would come from friends and family.

You can still dream all you want cash.

 

[LongView]

Original Quote From cashmoney69

Anyone pick up "Trader monthly" this month?

On page 44, there is an article about a man named Tony Caine who specializes in writing naked options. Tony got a degree in Math and Economics from Carnegie Mellon University and got a job at Hewlett Packard. On the train to work he met some CBOE traders that got him interested in options. He then moves to Apple, where he was one of the founders of Spyglass.

He sold his stake in Spyglass, and hired a money manager to help him with his futures and options account.

pg 46

" I have all my analysis done by 7 am, take my dogs for a walk, execute my trades, and adjust my orders shortly after the open. If I'm working past 9:30, I'm having a bad day"

Now, It seems to me that he is like many traders, the only difference is that he makes a ton more money. The article fails to mention how long he's been trading options before making it big.

Anyway, I thought you guys might find this interesting.

This guy is running one of the riskiest strategies I've ever seen. I would not trade the way he does. He's one limit from being wiped out or real close to it. Trust me!

Another thought, I would not give my money to a manager that is done working by 9:30 am.

Also running a fund by age 25 is a reasonable goal. I started a CTA when I was 24. Next Trader Monthly issue has the 30 under 30. Look for Tim Sykes he started his younger. Anyway, it is possible.

 

[JimmyJam]

Quote from maxpi:

I don't put people down that have big goals in trading. Do some math.... if you can work at systems until you have one that does 2% per day on average you will multiply your account by 144 in 250 trading days [assuming you take nothing out of the account]. 1.02 to the 250th power is 144, get a calculator and check it out. Goal one is to get a 2%/day strat. that can scale up to 144 times whatever your have now and trade it for a year. To further break it down, if you gained about 1/3 percent per hour, you have your 2% per 6.5 hour trading session. If you are leveraged 4X intraday your instrument only has to gain 1/12 percent per hour. That amounts to 1 friqqing cent on a $12 issue, once an hour. If you can make a penny per hour on a $12 issue all day every day you can take a $2000 account to $288,000 in a year.

This is one of the most useful posts on this thread.

If you understand what he is saying, then it is more than possible, it is likely.

Later,

Jimmy

 

[Bob111]

Quote from cashmoney69:

7:30-8:30 am - Watch CNBC, see what stocks are being mentioned and write them down, and add to watch list

8:30-11:30 - Monitor stocks, and read business news from cnn and yahoo

11:30 - 1:00 - lunch

1:00 - close - Keep watching positions or look for possible entry/exit points

I also watch Kudlow and Company, Mad Money, and On the Money, and add any stocks they talk about to my watch list.

Look over charts before going to bed.

you got youself very pleasant schedule,but i think -it's good for financial adviser from salomon smith barney or pru. not a trader..

 

[Thunderdog]

Quote from maxpi:

I don't put people down that have big goals in trading. Do some math.... if you can work at systems until you have one that does 2% per day on average you will multiply your account by 144 in 250 trading days [assuming you take nothing out of the account]. 1.02 to the 250th power is 144, get a calculator and check it out. Goal one is to get a 2%/day strat. that can scale up to 144 times whatever your have now and trade it for a year. To further break it down, if you gained about 1/3 percent per hour, you have your 2% per 6.5 hour trading session. If you are leveraged 4X intraday your instrument only has to gain 1/12 percent per hour. That amounts to 1 friqqing cent on a $12 issue, once an hour. If you can make a penny per hour on a $12 issue all day every day you can take a $2000 account to $288,000 in a year.

Oh, the hazards of crystal math.