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

Quote from deaddog:

But you have to deal with the public.
What if you had a complete A-Hole for a costomer?
What if he comes around each day and tells you that it's impossible to make money with a hamburger stand?
How do you handle a situation like that?
Probably drive you to daytrading.:)
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Then you can eat the burgers yourself, and resell the cart.

Quote from MohdSalleh:

Okay, but you need the money to buy the burgers to fry in the first place.
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So with daytrading, you need some capital to invest.

Quote from drcha:

At least in the US, selling burgers is not that simple. Health laws, legal protections....then, would you like to take a few days off once in a while? You need an employee--more laws, requirements, insurance, problems.

The people who think a thing is easy are those who have never tried it.

Trade vs. run a small business? I have done both. Give me trading any day. All that can happen to me is that I can lose money. And I know exactly how much I can lose on any given trade before I even make it.

Piece o' cake.
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No.
Even worse than losing money is wasting your time.
Time you could spend earning a living, even if it's flipping burgers.

Even with all the permits, regulations, etc. burgering is way easier than daytrading.

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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Jim Simons is nothing more than a frontrunner!
Tell him to post his trades real time in my post:
I, crgarcia, posted profitable real-time trades. And I challenge frequent traders!
http://www.elitetrader.com/vb/showthread.php?s=&threadid=202962&highlight=challenge
So we can believe him!

Quote from nLepwa:

You don't get it.

Smart traders trade other people's money.
That's where the money-making potential lies.

How many burgers will you need to flip to match the 1,5% management fee of a small $200M hedgefund?

Ninna
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Most hedgefunds lose money.
And most traders never make it to a (profitable) fund.
 
Quote from crgarcia:


Jim Simons is nothing more than a frontrunner!
Tell him to post his trades real time in my post:
I, crgarcia, posted profitable real-time trades. And I challenge frequent traders!
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Even worth than that, an High Frequency Front-runner with insider tips who stuff quotes to push market to round numbers. He was flashing orders long before it was available. He also only trades commodities on the long side to increase hunger in the 3rd world and stocks on the short side to destroy Main Street savings.

He won't post his trades on your thread because he lacks social skills, even on the internet.
 
Quote from OTCkrak:

you basically need 100k to open a lemonade stand.. all the permits, insurance, taxes... see the article below at how city/county food inspectors are shutting these businesses down.

http://www.cbsnews.com/8301-504083_162-20012899-504083.html
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Did you read the story earlier this week... about some poor schmuck being arrested for giving food to homeless people?

The gendarmes said he "didn't have a food distribution permit"... no joke. :(
 
Quote from crgarcia:

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.
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I've never seen any DOCUMENTED evidence that anyone has ever made a living from a burger stand, so following your own logic that means that nobody ever has.
 
Quote from OTCkrak:

you basically need 100k to open a lemonade stand.. all the permits, insurance, taxes... see the article below at how city/county food inspectors are shutting these businesses down.

http://www.cbsnews.com/8301-504083_162-20012899-504083.html
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BS as there are many small businesses who didn't have $100k.

Sounds like free propaganda for free enterprise politicians.
Quote from GTS:

I've never seen any DOCUMENTED evidence that anyone has ever made a living from a burger stand, so following your own logic that means that nobody ever has.
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Yet more BS indeed.
Millions make a living from food serving all over the world. In fact this may be the greatest industry in the world.

You suck as a spin doctor, did you know?
 
Quote from crgarcia:

Millions make a living from food serving all over the world. In fact this may be the greatest industry in the world.
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Serving food != Running a burger stand, far from it.

Still waiting for that elusive DOCUMENTED proof....
 
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.
 
Quote from EMRGLOBAL:

LOL....

It is interesting to read. And the truth hurts for many. Less than 5% of daytraders make serious money. The rest want it so bad that their "Wants" out rule their "Logic".

I know a few traders, no longer day traders, more like Traders. They did get started as daytraders at my old prop firm. They were and still are 7 plus figuers a year. Each one of them had draw downs that were huge, each one of them had to struggle to find a new edge, but all in all....they are very successful. Hell, I was taught by one of them.

However, I think the most I made in my final year of trading was 300k. That was it. I traded for 9 years.

Reality set in and I finally understood that I would not be a Million dollar producer daytrading. Dynamics were changing, market became more and more "manipulated" and High Frequency Programs were starting to kick in.

I handle my own money for investing. I do decent enough to grow my "Fun" money. However, I make more now in the Private Equity World than I ever did trading. I build relationships with Millionairs world wide, help connect them with other "Potential Business Partners" and I become a "Rain Maker" I essentially trade human capital now, but its for a WIN/WIN situation. If it does not benefit everyone, then the deal does not get done.

Making money is the Name of the game in Capitalism. Does not matter if you open a hot dog stand, Become a PIMP, etc. As long as you do it in a ethical way, yes PIMPS are ethical to a point. But to dwell in a situtation where the carrot is always just one step away..but never grabbing it....will put you in the poor house.
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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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