What are the largest fortunes ever made by INDEPENDENT traders?
- Thread starter travelingtrader
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And it required incredible courage, convinction, preparedness, agility to benefit from that fat figure. Plus he had the capital available to participate in the opportunity due to previous successful trades.
As I think atticus is trying to imply, he should be commended ..and we should not as the other poster seems to indicate write it off as a fluke.
Tokyo Joe?
Quote from atticus:
I don't see the point of brokerage diversification to that extent. It's a logistical nightmare and completely unnecessary. If SEC-regulated brokers go to shit then only cash in the mattress is safe when guarded by Mssrs. Smith and Wesson.
My point regarding notional limits has nothing to do with traditional delta1 products. American exotics are not traded retail in size. You must trade with a bank. He would have no trouble trading $100MM in any of those products with a retail account. For example, my brother has over $50MM with IB alone.
Your brother has 50 MM in his trading account at IB?
Wow...
Do you trade with something that large too? How did you/ he get started? Did you work at a firm after university? O are you self made?
Please share...
He did at one time -- don't know if he's wired it out. He was the majority shareholder of a CLEC during the telecom boom after dereg. He began with IB on my recommendation and the 8% notes IB was offering at the time (late 90s).
I had an undergrad in bio and physics (pre-med). I worked for a MMer and a ibank out of school. I took some finmath but nothing too deep.
I think my only limit in the next two years to ten figures is the position limits. At $70 million I will approach the position limits in NQ. After that, if I want to maintain my discipline every profit thereafter doesn't need to be re-invested, because that's the limit to how many contracts I'd be able to put on at 50% of equity for NQ's.
BTW Kris Kringle = Santa Clause for those that didn't know (I had to look it up).
100 heads in a row MUST HAPPEN as a function of PURE RANDOMNESS if you flip a coin enough times.
And when you have a billion brokerage accounts worldwide, 10k to 100 million events MUST HAPPEN out of PURE RANDOMNESS.
Most people intuitively (but wrongly) assume that these rare events disprove randomness when in fact they prove randomness.
However, good luck is a function of good design to a limited extent and that's all the hope you have as a trader.
100 heads in a row MUST HAPPEN as a function of PURE RANDOMNESS if you flip a coin enough times.
And when you have a billion brokerage accounts worldwide, 10k to 100 million events MUST HAPPEN out of PURE RANDOMNESS.
Most people intuitively (but wrongly) assume that these rare events disprove randomness when in fact they prove randomness.
However, good luck is a function of good design to a limited extent and that's all the hope you have as a trader.
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