To get rich trading you MUST manage other people money?

IF your method is profitable AND scalable, you can also consider selling your signals to others

Sites like timertrac, theta research, collective2, and others are a way to market signal. Putting yourself on all is better.

Or start your own website and do some google or other advertising.

Heckuva lot easier than trying to figure out how to manage other's money.
 
A few points.

1. Yea Candle trading size decreases efficiency. However two flip sides. A big money manager can bull up/squeeze his positions. re: Peter Lynch.

2. No trading desk will call any of us asking if we're interested in taking on a block of XYZ 80 cents below the thin bid.

3. FOREX volume is a misnomer. It's a dealer market. Hence the size one can move is subject to the volume/price demands of your specific counter party. Big traders call multiple banks. Those banks know that it's not only them but several others who're being lifted by Caxton (Kovner) at that moment. Obviously they adjust their bid/offer accordingly.

For an analogy: Just because a zillion is wagered on the Super Bowl doesn't mean your bookie will take a million dollar bet.
 
Pabst,

I've heard EBS regularly gets half-a-yard per side during London/New York.

Could be rumor. But thats not unreasonable, given that currenex has 200-300 Mil during peak times.
 
Quote from achilles28:

Pabst,

I've heard EBS regularly gets half-a-yard per side during London/New York.

Could be rumor. But thats not unreasonable, given that currenex has 200-300 Mil during peak times.
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Thank's bro. That's a lot of size but keep in mind a big fund can be pretty leveraged to boot. Like everything else in trading-getting it on isn't so hard it's getting it off that so often sux. :cool:
 
I respectfully disagree, though it depends on your definition of rich.

Having spent the bulk of my career as a floor trader trading my own account, I only handled one account for a friend of mine, and didn't charge him any fees or percentages. While I might not be rich, I certainly am comfortable, and regularly trade a few million bushels at a whack.


Rich, comfortable.....what does it matter as long as you make money in the long run.

Jeff
 
Quote from nokomisjeff:

I respectfully disagree, though it depends on your definition of rich.

Having spent the bulk of my career as a floor trader trading my own account, I only handled one account for a friend of mine, and didn't charge him any fees or percentages. While I might not be rich, I certainly am comfortable, and regularly trade a few million bushels at a whack.


Rich, comfortable.....what does it matter as long as you make money in the long run.

Jeff
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i agree with you, i have never traded opm and never will....not making millions but definitely living comfortably.
 
The psychology is different if trading your own money or OPM from people you don't care much about. I was watching a movie about floor traders and a guy made the comment that the guys in the pits that were trading their own money were a lot smarter and tougher than the guys trading opm... that is the truth, before I try a system with my own money I am not only going to test it but i am going to test the software I use to test the system, with some clown's money I'm going to use far less intellectual rigor in the learning process, far, far less... I'm going to learn as I go really......
 
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