Wow you sound just like my Father who is an academic, I am the complete opposite anyways, i took the semester off to see if it would make me a better trader because of the free time, it didn't, i will resume my studies next semester in January to make my parents happy but i don't think saying that "I got lucky day trading penny stocks" is fair. I have executed over 15000 trades over the last 5 years having an 80% win ratio and my largest draw down was less than 2%, I work extremely hard everyday and have been for the last 5 years spending thousands of hours to try and learn and get better at what I'm doing. All I am asking is to see how other people made the transition to full time trades and what obstacles they faced.
Transition to full time trader quitting school and work
- Thread starter apo99
- Start date
Wow you sound just like my Father who is an academic, I am the complete opposite anyways, i took the semester off to see if it would make me a better trader because of the free time, it didn't, i will resume my studies next semester in January to make my parents happy but i don't think saying that "I got lucky day trading penny stocks" is fair. I have executed over 15000 trades over the last 5 years having an 80% win ratio and my largest draw down was less than 2%, I work extremely hard everyday and have been for the last 5 years spending thousands of hours to try and learn and get better at what I'm doing. All I am asking is to see how other people made the transition to full time trades and what obstacles they faced.
The last 5 years the VIX has been near zero and the market has been led by easy money Fed action in a zero interest rate world. Once we raise the forward discount rate to re-price risk assets it won't be so easy. And yes, a large amount of this business is driven by luck. Start picking up Taleb's books. Start with his "Fooled by Randomness". The number 15k is meaningless. Google Taleb's Thanksgiving Turkey story to understand confirmation bias and how it distorts things. The greatest judge in this market as to skill is not number of trades or return, it's time. Five years is nothing. Shit Bernie got away with fooling people for 3 decades. I'm not trying to be hard on you. I'm trying to wake you up and that requires some blunt force unfortunately. If you want class suggestions, I'll be happy to offer some advice there. Your last semester should have some very good class offerings in quantitative finance that will pay huge dividends.
My Gf is doing her PHD in math here in Montreal so she helps me out a bit, all I have taken are some stats classes and the calc classes that were required. The only advantage to the stocks I trade is that they don't really correlate to the market especially the lower volume ones but this is a double edged sword.
How did you do it, how did you know you were ready to trade for a living.
Im sorry algofy its closer to 70% not 80%
18-20% are break even trades
and the rest are losers
and yes draw down is 2%
10% losers, 2% drawdown, huge sample size, great profits. I assume you are one of the following:
1. You're one of the best traders in the world.
2. You have a martingale type strategy that just hasn't busted out yet.
3. You are completely full of shit.
Are you same guy who reposts positive threads , dissapears and come back under multiple different aliases opening new multiple positive profitable trading threads , about different profitable strategies?
Some people reappear with positive bs threads, wasting the time of serious real traders.Are you member of positive BS team?
Last edited:
These are penny stocks they trade quite differently, don't forget they are not marginable nor can you short them or scale up to a large position size. So making 40-50% a year on a these stocks isnt as impressive as someone making 18-25%/ year on a futures account or trading blue chip stocks were he has leverage. Anyways im just asking how you guys transitioned into full time traders?
No lol i just opened this account yesterday, i would just like some advice of how you guys transitioned into full time traders from part time traders and how confident you were in your strategies before doing it.