Why don't you just set a small burger stand, instead of daytrading?

Quote from EPrado:

You made 300k in your final year at Schonfeld ? Thats hilarious considering you were let go during the mass firing after the firm got clobbered. So I guess you walked away while you were having your best year. You are so full of shit. I guess things haven't changed. You used to walk around the office telling everyone you were trading huge size when in reality you were trading a few hundred shares in each position. You were a small fry there. I found it comical that you used to come by my desk and tell guys on the desk you were trading 10-20k shares of certain stocks when in reality you were a 500-1000 share guy.

"300k...that was it"....


In your dreams.
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Wow.:eek:
 
Quote from nutmeg:

A hot dog vendor was kicked from the curb outside New York City's Metropolitan Museum of Art last week for failure to pay his monthly rent—of $53,558. Pasang Sherpa was under contract to pay the Parks Department $362,201 a year for a stand on the south side of the Met's entrance and $280,500 for another on the north side. That's a lot of hot dogs. With rent astronomically high, how much do New York City hot dog vendors actually make?

http://www.slate.com/id/2224941/

p.s. Those are not the most expensive rents either, there are carts that cost just under 600k a year.
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There's a catch somewhere in these stories.
Anyone can see they won't make that much, nor the state will charge them that much.
 
Quote from crgarcia:

There's a catch somewhere in these stories.
Anyone can see they won't make that much, nor the state will charge them that much.
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You'd think so, but if you played with the numbers, it's realistic.

If you had 20 customers an hour at $5 a sale.... 12 hours a day.
 
Quote from nutmeg:

You'd think so, but if you played with the numbers, it's realistic.

If you had 20 customers an hour at $5 a sale.... 12 hours a day.
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OK, $100 per hour X 12 hours X 30 days = 36K and the rent was 55 K

Doesn't look profitable to me... The vendor needs 30 costumers with 5$ profit per hour just to break even, and we are talking about 12 hours days rain or shine??? Not to mention during the winter it is dark by 5 pm....
 
Quote from nutmeg:

You'd think so, but if you played with the numbers, it's realistic.

If you had 20 customers an hour at $5 a sale.... 12 hours a day.
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Then why they keep working for years, showing up with iphones, other burger carts and another (used) truck to tow the new burger cart?

Funny how brokers shills say a burger cart can't be profitable, just because they may lose the peanuts they get on trading commissions.
 
Quote from TraDaToR:

Why are you putting the photo of a profitable daytrader( Renaissance average holding period = 15 min ) with documented track record just after saying they don't exist??? Are you really that stupid?
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"Profitable" day-trading appears to be hell on your teeth... I'm not conivnced.
 
many market participants just trade teh morning session and go to school or work or hot dog stand job. 90% of trader profits are in the morning seession before noon EST. today the market shutdown after 11am EST

daytrading or trading is just sideline business or activity and many pensioners and seniours daytrade swuingtrade to.


Quote from crgarcia:

I read that Daytraders want to make a living from only a few grand,
So why don't they just set a small hamburger stand?


Flipping burgers beats daytrading:

Burger stand: most people make at least a modest living from it, if you have work ethics.
Daytrading: Nobody ever made a living, there has never been a DOCUMENTED profitable daytrader in the long run.

Burger stand: you will never starve (eating burgers)
Daytrading: you must set money aside, or dig into your trading capital in order to eat.

Burger stand: you can even sleep inside the burger trailer.
Daytrading: if you depend on daytrading profits to pay rent/mortgage, you'll end up homeless.

Burger stand: you can meet interesting people, that can refer you to a real job. Specially true if your stand is located in the business district.
Daytrading: you sit alone at home, losing social skills.

Burger stand: You can always resell the burger stand, to get back at least some of the capital invested.
Daytrading: losses are permanent, and increase with every trade.

Reality bites.

Leave trading for those of us who:
A. Have 6 or 7 figures to invest.
B. Have other jobs or income, so we don't depend on trading profits to make a living.
C. Can wait for months or years before getting profits.

What are you waiting for?
To lose it all and become a homeless beggar or freeloader?

Stop being a commissions-generating fool, and start making a living!
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