Pro NY trader goes from 200k salary down to 25k

Duhhhhh. Maybe cause not many make much money by prop trading. It's the rare ones who do. Geeeeez. You guys are stupid and naive. You should feel for this guy. Your only a few steps or closer awAy
 
Im sure the ones with the lowest performance are the first ones cut during this massive shrinkage of Wall St jobs....I would think
 
The WSJ article refers to Mr. Araya as a trader, but the reality is that he was not a trader, he was a floor broker filling customer orders.

"He had a knack for the Merc job. He could gauge from the roar of traders' voices how the market was faring. He gained loyal clients, and was confident enough to engage in profane shouting matches with them on the phone. Mr. Araya still has dreams about the hand signals traders use to indicate orders."
 
After taxes, a 6000 dollar a month house payment, and eating out regularly at all of those expensive restaurants he mentions that he used to eat out at....there wouldn't have ever been much left of that 200k. If you only make 200k a year you should be spending a LOT less than 200k. This guy was spending his entire paycheck, and ironically he is probably one of the more frugal ones out there, because at least he had some savings and no credit card debt.
 
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