Life after Proprietary Trading?
- Thread starter ethanbrooke
- Start date
Goldenarm.... What's bullshit? Making $500,000 a year from daytrading? If you think that making $500,000 a yewar from daytrading....you must be working at Alltech and giving away all your pforfits to Harry. Trust me: $500,000 a year from daytrading is very possible.... even today. Top guys at my firm - Wordlco in NYC - clear over $2M a year for themselves.
most either blew up or quit trading since they started loosing $
To make $1 million in a year, you have to clear an average of $4,000 a day (assuming they trade virtually every trading day, and any down day means one must clear $8,000 + the amount lost the following day in order to average $4,000 for those 2 days). And that assumes that you receive 100% of payout (either trade at home with big leverage or have great payout at prop firm, which isn't 100% anyhow. Many people made $1 million in the good days. The number of people making $1,000 now is extremely, extremely small (hell, so is the number of people making $500,000 this year). To make $2 million, one has to AVERAGE $8,000 a day. Only a handful of daytraders/swing traders in this country probably make that much. The "irrational exuberance" is over, and now its time to work for every dollar. The days where the bull market made everyone look like geniuses is over. That's just my humble opinion, but what do I know. After all, I Missed the Boat (the bull market).