I need a good story....

riskarb · Dec 31, 2003

Quote from windward:

I have zero option experience.... I'm not kidding myself that I can pick up a book and generate monthly p/l of 30-50k with low risk? on a couple million in BP?

The book suggestions were simply a starting point. I don't think it's a reasonable expectation to earn $50k on $2MM without taking some significant leverage(gamma) in options. I trade flat delta, but take significant short gamma and volatility positions.

FWIW, I've 15 years trading this stuff as a pro so the anecdotes aren't applicable to your situation, but I've not had a month under +$50k in over two years(9/2001). My account is typically funded at a bit over $2MM.

For those returns I'm carrying significant exposure past 2sigma, it's a cost of doing business -- and I simply make sure I've got the bulk of my profits in hard assets. My style isn't for everyone, but I manage to sleep well.

arb.

Free Thinker · Dec 31, 2003

Quote from ig0r:

Ever looked into spread trading? Trading seasonal spreads on commodities is a fairly low risk strategy and can give you several hundred percent on your margin in 3-6 months.

commodities, low risk, several hunderd percent return, 3-6 months. must be the holy grail.

ig0r · Dec 31, 2003

Quote from vhehn:

commodities, low risk, several hunderd percent return, 3-6 months. must be the holy grail.

It's as old as trading, nothing special about it. Didn't say there was no risk, it's lower risk than trading commodities outright

You still have to trade. It's also a better option than trading commodities unhedged because margin reqs for spreads are much lower.

Free Thinker · Dec 31, 2003

Quote from ig0r:

It's as old as trading, nothing special about it. Didn't say there was no risk, it's lower risk than trading commodities outright You still have to trade. It's also a better option than trading commodities unhedged because margin reqs for spreads are much lower.

when you put it that way i can accept it.

DK_ · Dec 31, 2003

Quote from windward:

I'm not confident that pulling up charts or tapping at some ocillator system is an edge. I'm looking for something else to do.

Sounds like you're looking for a major change, even relocation. If this is the case consider Cayman with no income tax, capital gains tax nor inheritance tax. You could job shop there or consider something in the tourism industry if you've had enough of computer screens.

WRT an edge, I'd say it's there just very aggregate and not particularly exciting. I took a quick look at the stocks the highest scores from yesterday, all were shorts
10* DOW +0.54%
9* BBH -0.38%
7* PD -1.58%
7* SEBL -1.35%

Swing trading is definately in the domain of those with day-jobs and retirees.

Good luck and please keep us posted

marketsurfer · Dec 31, 2003

Quote from DK_:

Sounds like you're looking for a major change, even relocation. If this is the case consider Cayman with no income tax, capital gains tax nor inheritance tax. You could job shop there or consider something in the tourism industry if you've had enough of computer screens.

Good luck and please keep us posted

concur with the CAYMAN call. i love that place !

surfer

babe714 · Dec 31, 2003

I punched trader into the yahoo hot jobs search ( quotetracker ad) . these are the openings for today :

Search Results

Criteria: trader, Direct Employers, Staffing Firms

Jobs From: All | Employers | Staffing Firms
Sort by: Most Relevant | Date 1-50 of 295 | First | Previous | Next | Last

Job Title Company Name Location Salary Date
Refined Products Trader UBS Investment Bank Stamford, CT Dec 31
Refined Products Trader UBS Investment Bank Stamford, CT Dec 31
Equity Sales/Trader and Convertible Bond Trader Dawn Taylor Associates Fairfield, CT Dec 31
Municipal Bonds Trader Support Michael Page Intl. New York, NY Dec 31
Crude Trader UBS Investment Bank Stamford, CT Dec 31
Crude Trader UBS Investment Bank Stamford, CT Dec 31
Foreign Exchange Sales/Sales Trader - New York Global Systems Staffing, Inc. New York, NY Dec 31
Associate FX Options Trader Support Michael Page Intl. New York, NY Dec 31
Lumber Traders Abbott & Associates Birmingham, AL; Portland, OR Dec 31
Trader Lamonex Los Angeles, CA; Los Angeles, CA Dec 31

ig0r · Dec 31, 2003

Quote from babe714:

I punched trader into the yahoo hot jobs search ( quotetracker ad) . these are the openings for today :

Search Results

Criteria: trader, Direct Employers, Staffing Firms

Jobs From: All | Employers | Staffing Firms
Sort by: Most Relevant | Date 1-50 of 295 | First | Previous | Next | Last

Job Title Company Name Location Salary Date
Refined Products Trader UBS Investment Bank Stamford, CT Dec 31
Refined Products Trader UBS Investment Bank Stamford, CT Dec 31
Equity Sales/Trader and Convertible Bond Trader Dawn Taylor Associates Fairfield, CT Dec 31
Municipal Bonds Trader Support Michael Page Intl. New York, NY Dec 31
Crude Trader UBS Investment Bank Stamford, CT Dec 31
Crude Trader UBS Investment Bank Stamford, CT Dec 31
Foreign Exchange Sales/Sales Trader - New York Global Systems Staffing, Inc. New York, NY Dec 31
Associate FX Options Trader Support Michael Page Intl. New York, NY Dec 31
Lumber Traders Abbott & Associates Birmingham, AL; Portland, OR Dec 31
Trader Lamonex Los Angeles, CA; Los Angeles, CA Dec 31

Lumber trader sounds fun

Mr Subliminal · Dec 31, 2003

Quote from babe714:

Crude Trader UBS Investment Bank Stamford, CT Dec 31

You can scratch this one off your f$%king list. I just finished a 2 hour grueling interview with the c%$#*%@king HR manager and landed the job.