FWIW I guess I am pretty much what you are talking about. Someone who has daytraded from home since day one with no industry links...I traded as a hobby through university and when I came out, I was almost making a living. I had to choose between becoming a notary and pursuing (remote) trading. I don't regret my choice. Trading has been my sole income since 2007. Money is nice except for 2012 when I didn't even make 6 figs...I trade ag futures and I am part of the IIP program of CME as I live in Switzerland.
Is day trading worth it?
- Thread starter Laissez Faire
- Start date
Well done and congratulations to you ! Take satisfaction in your accomplishments, which are truly exceptional.
Thanks for the kind words, Bone. My broker in London told me the same thing last month( that self taught traders were really rare ). A few years ago fixed income traders were able to get really stable results but they are struggling right now. Apparently the few remaining consistent traders in the futures world are trading really odd products or strategies...
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Thanks for sharing this. It's great hearing success stories. surf
The same thing happened with hedge funds several years ago. The huge funds stopped making money and the alpha was/is located in niche, capacity constrained strategies in very odd sectors.
I don't know if we can really talk of a success. I know a lot of people around me (who know nothing about trading ) assimilate it to being borderline unemployed...LOL...You sometimes have to remind them they( most corporate people ) are just glorified salesmen and that trading is indeed a lot more challenging and interesting than offering services(...) for a fee...Whatever...I am really happy where I am. I can't see myself doing anything else.
I don't know if we can really talk of a success. I know a lot of people around me (who know nothing about trading ) assimilate it to being borderline unemployed...LOL...You sometimes have to remind them they( most corporate people ) are just glorified salesmen and that trading is indeed a lot more challenging and interesting than offering services(...) for a fee...Whatever...I am really happy where I am. I can't see myself doing anything else.
I think survival is success in the DIY day trader game--- so nice going!
It seems to me, but may be I am wrong, that you have a negative bias against day traders who do not go through "institutional route". Any particular reason why?
I am not negative- I love the markets and they have enriched me, so I try to pass along my experience- but the truth is there is no edge for the DIY day trader--- ALL my observations, ALL my experience, and EVERYONE i know--- tells me that at home DIY day trading is a complete waste of time as a way to make anything of yourself. At one time, with the right software (SOES bandits, etc), it could be done-- but those days are long over--- could things change back, sure, but I am not waiting around for that.
Obviously, some folks, seem to buck the overwhelmingly poor odds, but then again, some folks win the lottery. They are are black swans and for some reason, they all seem to post on these threads. LMFAO!
surf