I would tend to agree with Mecro. No way in hell is a newbie making 60K/month 10months into daytrading! It takes time and experience to be confident enough to put on size to make that kind of money. You can't make that kind of money trading 1000 shares lot. And not everyday will one find a DNA or ESI. And even if you did find it , can you trade 'em well?
No Bullets....vix At 16 And Collapsing
- Thread starter grimer11
- Start date
I would tend to agree with Mecro. No way in hell is a newbie making 60K/month 10months into daytrading! It takes time and experience to be confident enough to put on size to make that kind of money. You can't make that kind of money trading 1000 shares lot. And not everyday will one find a DNA or ESI. And even if you did find it , can you trade 'em well?
SDTRADER does sit next to a trader who has been trading 10 mo and is making 40k a month
so SDTRADER was not wrong about 60k in 6 weeks...
he also is willing to trader more than 1000 shares at a time guys...
JWKirkland,
wow. If you say so. Did he had any trading experience prior to joining your firm? And what size was he throwing around? 5K-10K lots?
just curious
NO experience, just a desire to learn and be taught
He trades anywhere from 1000 to 5000 depending on the stock -
does avg of 200k shares a day
earlier today he was up 7000 on 70,000 shares traded
SDTRADER does not lie, either does Dustin, I am happy they are willing to put up and show their numbers...
give 'em hell if you want, but they put it up
(as long as they do not tell everyone what we are doing, hehehe)
i was NOT giving them hell. Just asking.
Anyhow, so today he was averaging 10cents a share? Hmm.. is that typical? I guess if you ave 10cents/share and do volume then it would make sense. What kind of stuff does he trade? Stuff that moves around a lot? Cuz some stocks have like a 20cents range. Which is ridiculous.
stay cool
One of the SD guys is in NYC now. It's basically position trading with large sizes from what I could gather. I never really bothered to get specifics because there is obviously some secrecy there.
He never mentioned a 10 month trader making this type of money. From what I understood, most of the guys in SD are quite experienced. In general, position trading with size requires experience.
You make it sounds so easy when you mention a 10 month newbie flipping size like it's nothing and making sick money. I really would love to know the real story behind this. What's the failure rate of the new traders you guys take on?
What exactly is the deal? I can totally see a new guy hitting it off and start making great trades but with size like that? No freaking way. One bad trade would demoralize you. One bad trade into a bad day will destroy you. These are experiences all traders have to go through but when it happens with 1000-5000? Man come on, I was having problems just taking hits with a few hundred shares at first.
Maybe if you are rich and are not depending on trading to become your sole source of income. But otherwise, it just makes no sense. Neither does it make sense to allow a group to let a new guy to flip size like that.
In other words, I'm dying to know what the real deal is. If it's clean and real, shit, I'm on my way to SD ASAP.
Mecro, no disrespect intended here. But you might want to accept that people have different thresholds regardless of the money they have or their experience. A bad trade might demoralize you, but that is not so for everyone. You need to stop speaking in generalization. If he, or any of us, have a bad trade...you suck it up take a deep breath and jump back in. After you are consistenly profitable, you know what works and what doesn't. Just because you get your ass kicked once does not mean you can't be on the other side just a couple minutes later.
Without getting into this guys personal life. No he is not rich. And no, our group does anything but position trade. That could not be further than the truth. I would say most of our trades average less than a minute.
It was not my intention to imply that is was "easy" I believe if you read my post above you will notice that I said he was an outlier. He just has a gift for knowing when to add size on a moving stock. He has taken hits of a few grand and flipped the position right around and made it back.
And FWIW, the guy you are referring to in NYC right now does not trade like the core group we have. He has a different style, but is also VERY good at what he does.
My point in this entire thread was simply that daytrading is not dead. The way I trade right now is completely different than the way I traded two years ago. And I am willing to bet that the way I trade two years from now will be different as well. I just wanted to point out to some that stop the bitching and whining and adapt to what is working. It can be done. My screen shot was from the the first couple hours and my YTD PNL is middle of the road just for our group. There are plenty of people kicking my ass and that is where I would like to get to. I know it is not easy........but certainly not impossible.
Without getting into this guys personal life. No he is not rich. And no, our group does anything but position trade. That could not be further than the truth. I would say most of our trades average less than a minute.
It was not my intention to imply that is was "easy" I believe if you read my post above you will notice that I said he was an outlier. He just has a gift for knowing when to add size on a moving stock. He has taken hits of a few grand and flipped the position right around and made it back.
And FWIW, the guy you are referring to in NYC right now does not trade like the core group we have. He has a different style, but is also VERY good at what he does.
My point in this entire thread was simply that daytrading is not dead. The way I trade right now is completely different than the way I traded two years ago. And I am willing to bet that the way I trade two years from now will be different as well. I just wanted to point out to some that stop the bitching and whining and adapt to what is working. It can be done. My screen shot was from the the first couple hours and my YTD PNL is middle of the road just for our group. There are plenty of people kicking my ass and that is where I would like to get to. I know it is not easy........but certainly not impossible.