P&L since beginnning trading

PJT · Mar 25, 2008

Quote from bestfriend:

ME:
Started 1998 $25000 ( borrowed from credit card)
1998 $22000
1999 $450,000
2000$1,650,000
2001$1,016,000
2002$160,000 (the drug year)-"so I can work harder so i can earn more so i can buy more coke"
2003$450,000
2004 $650000
2005$525,000
2006 $1030000
2007 approx 1 mill

That would be wildly impressive if those numbers were your yearly balance totals and not your yearly profit totals. Those numbers as yearly profit totals are astounding.

I suppose we can all be skeptical of such large numbers coming from a 25K cash advance from a Discover card, but if true, way to go man.

All that being said, I have one bit of advice for you:

Cook RICE not ICE!~

ElCubano · Mar 25, 2008

Quote from PJT:

That would be wildly impressive if those numbers were your yearly balance totals and not your yearly profit totals. Those numbers as yearly profit totals are astounding.

I suppose we can all be skeptical of such large numbers coming from a 25K cash advance from a Discover card, but if true, way to go man.

All that being said, I have one bit of advice for you:

Cook RICE not ICE!~

I saw a kid just get off a raft from cuba..make over 1million in 1999 and 2 mill in 2000 with a loan from another trader and with not so much as one iota of any knowledge as to what a stock was prior to starting trading...i saw him personally make $400k in one trade in 1/2 a day on emulex...so yes it was possible...he lost about $200k when it started going down and he quit...plowed his money into properties..ive never heard from him again..but i can assure you he rode the big kahuna...he might be broke as I type...peace

PJT · Mar 25, 2008

Quote from ElCubano:

I saw a kid just get off a raft from cuba..make over 1million in 1999 and 2 mill in 2000 with a loan from another trader and with not so much as one iota of any knowledge as to what a stock was prior to starting trading...i saw him personally make $400k in one trade in 1/2 a day on emulex...so yes it was possible...he lost about $200k when it started going down and he quit...plowed his money into properties..ive never heard from him again..but i can assure you he rode the big kahuna...he might be broke as I type...peace

Interesting thanks for sharing.

Wasn't emulex that stock that got slaughtered on a rumor and came back all the way in the same day?

Crazy.

TraderZones · Mar 25, 2008

Quote from bestfriend:

I am curious how people have done and what they began with:

ME:
Started 1998 $25000 ( borrowed from credit card)
1998 $22000
1999 $450,000
2000$1,650,000
2001$1,016,000
2002$160,000 (the drug year)-"so I can work harder so i can earn more so i can buy more coke"
2003$450,000
2004 $650000
2005$525,000
2006 $1030000
2007 approx 1 mill

This includes interest income on profit saved.
I know most people wont believe thid but that's their problem there are plenty on these boards who have done better. Gertsman did a lot better but wont reveal it. Heck, there's a 19 yr olfd on this board getting a $180k sallry for advice from a hedge fund. Anf he's a ful-time student.

Let's here the good stories:

I have serious difficulty believing these kind of results (1999, 2000) from a 2 year trader.

NY0BScalper · Mar 25, 2008

Quote from TraderZones:

I have serious difficulty believing these kind of results (1999, 2000) from a 2 year trader.

People made that kind of money back then. The learning curve for making a few K/day was a few months. The money was really, really easy. Market makers were slow to cancel their quotes and you could basically arbitrage by soesing a slow MM and selling higher on Island. You could get filled 10 points beneath the market by broadcasting to MMs and they had 30 minutes to bust the trade.

Longhorns · Mar 25, 2008

Quote from TraderZones:

I have serious difficulty believing these kind of results (1999, 2000) from a 2 year trader.

Obviously you weren't trading in the late 90's and 2000.

drosengarden · Mar 25, 2008

Quote from NY0BScalper:

People made that kind of money back then. The learning curve for making a few K/day was a few months. The money was really, really easy. Market makers were slow to cancel their quotes and you could basically arbitrage by soesing a slow MM and selling higher on Island. You could get filled 10 points beneath the market by broadcasting to MMs and they had 30 minutes to bust the trade.

Hi! I'm new to trading - but I've seen some pretty good results on my paper trades. I have a strategy that so far I like - still proving it out with more data...BUT...

What you say here is the kind of thing I've seen before and sensed that perhaps there is more to this game than I realize. (Which that isn't hard to fathom!)

But specifically - What is this deal with market makers and the other terminology you use here? (I am unfamiliar with this.)

Are you suggesting that there are people capable of screwing up or messing with your trades to a degree that you get your order filled - but at an immediate "loss" from what you had intended your fulfill price to be?

This is the part that scares me. When I start placing my day trades - (I predict an average of 8/day) - am I to be rudely awakened by the orders "mysteriously" taking too long to fill and otherwise get "bust out" of the position I had hoped and intended to be?

Your insights are greatly appreciated.

chewbacca · Mar 25, 2008

NY0BScalper · Mar 25, 2008

Quote from drosengarden:

Hi! I'm new to trading - but I've seen some pretty good results on my paper trades. I have a strategy that so far I like - still proving it out with more data...BUT...

What you say here is the kind of thing I've seen before and sensed that perhaps there is more to this game than I realize. (Which that isn't hard to fathom!)

But specifically - What is this deal with market makers and the other terminology you use here? (I am unfamiliar with this.)

Are you suggesting that there are people capable of screwing up or messing with your trades to a degree that you get your order filled - but at an immediate "loss" from what you had intended your fulfill price to be?

This is the part that scares me. When I start placing my day trades - (I predict an average of 8/day) - am I to be rudely awakened by the orders "mysteriously" taking too long to fill and otherwise get "bust out" of the position I had hoped and intended to be?

Your insights are greatly appreciated.

None of what I was talking about has applied for 7+ years. It's totally antiquated information with no relevance to today's marketplace.

Longhorns · Mar 25, 2008

Quote from chewbacca:

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ROTFLMAO.

The "afro-ninja" guy was hysterical.

Thanks chewbacca.