There seems to be very few Big Indepentdent Traders.....
- Thread starter aeliodon
- Start date
Obvious alternative to OPM, and the ability to make some good money....among others who make $millions...but it takes a lot of work.
Not for everyone, but our top traders are living proof that it can be done by "normal" people (I use the term "normal" loosely, LOL). Many traders doing well....and My brother had a great 2004.
http://www.stocktrading.com/trader10030.html
was profitable in 2005 but no glory year.
Looks like 2006 will beat 2004.
He grew his own money from his own money, and does not use profits from our business for his personal trading.
It really does take a couple of $million to make a good living, and then if you can just ratchet things up, you're on your way.
Takes a lot of work, especially the first couple of $mil.
All the best and Happy New Year everyone...
Don
Not for everyone, but our top traders are living proof that it can be done by "normal" people (I use the term "normal" loosely, LOL). Many traders doing well....and My brother had a great 2004.
http://www.stocktrading.com/trader10030.html
was profitable in 2005 but no glory year.
Looks like 2006 will beat 2004.
He grew his own money from his own money, and does not use profits from our business for his personal trading.
It really does take a couple of $million to make a good living, and then if you can just ratchet things up, you're on your way.
Takes a lot of work, especially the first couple of $mil.
All the best and Happy New Year everyone...
Don
i'd have to say the number of traders managing their own money making 7 figures a year, never having run a hedge fund and not at a bank, has to be extremely, extremely small.
and that's great if you're content making low-mid 6 figures and having 'low 7 figures in the bank.' but that number is a little shy of financial freedom. if you have 10 million in the bank, then 5% a year will get you 500k a year. that would be closer to financial freedom in my mind. if you're making 500k a year, you are on your way...
on top of that, the process of setting goals, taking on challenges, and trying to be the best you can be is another reason. returns and money are simply a way of keeping score. plus running a large hedge fund is a way to give back to society, and help friends/family out, assuming you have something of value to add.
and that's great if you're content making low-mid 6 figures and having 'low 7 figures in the bank.' but that number is a little shy of financial freedom. if you have 10 million in the bank, then 5% a year will get you 500k a year. that would be closer to financial freedom in my mind. if you're making 500k a year, you are on your way...
on top of that, the process of setting goals, taking on challenges, and trying to be the best you can be is another reason. returns and money are simply a way of keeping score. plus running a large hedge fund is a way to give back to society, and help friends/family out, assuming you have something of value to add.
I was at a wedding for my girlfriend's family friend in March and I was seated at a table with a lot of random couples. Turns out the guy next to me, he was 30ish, trades in the Nat Gas pit and is good friends with Bolling. He told me Eric is transitioning out of the pits and into being in front of the camera fulltime. This guy told me Bolling says he getting a little old for the pit, its more a younger guys game, plus he is pretty comfortable as is. Thats what he told me, not sure how accurate its is. He also told me that he was a referee for boys soccer about 6 years ago and was the referee for the game in which Marc Fishers son was playing. They had a conversation after the game and Fisher apparently saw something in him and decided to financially back this guy to get him started and now this guy does very well. It was definitely a cool night chatting with him about what he does.
No offense, but I'm not entirely sure if your priorities are truly in line with who you are inside if your ultimate goal in life is to make 100s of millions of dollars (especially by trading at home).
Very few people are called for that, and those types are not out seeking inspiration from others. They simply do it because they are compelled to -- just like top professional athletes, artists, and business people. Popular esteem and peer standards be damned.
If you are the type, you already know it.
Hey Don,
How much exposure does it take for an all-star equities trader to make (upwards of) $20M these days anyway?
Congrats to you both, sounds like a great year. Very impressive.
Ace.
How much exposure does it take for an all-star equities trader to make (upwards of) $20M these days anyway?
Congrats to you both, sounds like a great year. Very impressive.
Ace.
