successful traders

SethArb · Dec 1, 2005

if you look carefully you can find something below 14 st. for under $2,000 a month

-How much is a decent place to rent in Manhattan? Not a shitbox, but just a nice little place right downtown-

Steve Tvardek · Dec 1, 2005

What other industry did you make "mass money" in?

Quote from coolweb:

I Didn't make my mass money in this industry, but another industry.

All saved collecting 5% interest / commercial real estate.

Always save until, you have a comfortable living income just from interest.

Then,

You are a player.

Live , flaunt, have fun, on free money. Thats how rich people do it and stay rich. Never on capital.

gnome · Dec 1, 2005

Quote from Steve Tvardek:

"... No need to go crazy and spend just for the sake of spending...."

Gee, I wish you'd talk to my wife.

ImamicPH · Dec 1, 2005

Lets say you grossed like a 1m trading?

Couldn't you get at least 8%, essentially risk-free?

Ebo · Dec 1, 2005

In order to find a clean apartment for under $2000 in Manhattan, you will need to be resourceful and perhaps pay a fat Real Estate broker's fee.

$2K is the magic "Rent Destabilization" number.

brokerboy · Dec 1, 2005

Quote from gnome:

Gee, I wish you'd talk to my wife.

Come on a few of us on here know your wife and we can all agree it wonât work. :eek: :mad:

joking of course

CasperCRF · Dec 1, 2005

Do you guys have to pay for your health insurance out of your winnings? And is there and equivalent of a 401k for a trader, like being able to contribute pre-tax earnings?

NihabaAshi · Dec 1, 2005

Quote from CasperCRF:

Do you guys have to pay for your health insurance out of your winnings? And is there and equivalent of a 401k for a trader, like being able to contribute pre-tax earnings?

Of course you do unless someone is doing it for you.

Isn't that what most profitable traders do...

Pay their bills...live off their income ???

* Mortgage Payment
* Home and Auto Insurance
* Tax Accountant Fees
* Private Medical and Dental Plans
* Keogh and IRA Plans
* Investments for Diversity (stocks, real estate, art collections et cetera)
* Life Insurance (those with a family)
* Kids College Education Fund
* Interest Rates has been rising...put more money in the savings account because those rates improve in a rising interest rate enviroment
* Many other expenses I don't have time to go into.

Quote from ragz:

What do you do with all the money you're making..take the ladies out? blow it on cars/ go on vacations?

Those buying fast cars and juggling women...

Must be raking in the big dough or still living at home with the parents.

Mark
(a.k.a. NihabaAshi) Japanese Candlestick term

rufus_4000 · Dec 1, 2005

Quote from Ebo:

In order to find a clean apartment for under $2000 in Manhattan, you will need to be resourceful and perhaps pay a fat Real Estate broker's fee.

$2K is the magic "Rent Destabilization" number.

It is becoming pretty impossible to find a decent 1 bed or above for under $2k in Manhattan. I live in Manhattan, but I bought my apt a couple of years ago, I have seen nice 800 ft apartments renting for $3k / month or so. It may sound strange for people not in NYC, but it is hard to find a decent apartment to buy for < $1M.

There used to be some good deals in midtown-east, or below Houston (Chinatown neighborhood), but even these places have sky rocketed. A friend bought a place on Avenue *D* (alphabet city, yes, where Son of Sam used to commit his murders) for over 1M, it is insane.