Would you rather trade on your own making 100k yr or trade for a firm making 500k yr

Quote from rateesquad:

Agreed.
So, you don't believe in gambling. You take calculatd risk. Like most intermidiate-professional trader. Great would like to comment on your expirence in trading. what do you consider yourself as?(expert, professional, newbie, etc?)
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newbie.

... and yes, aren't I clever for being so modest. :)
makes me superior.
 
Quote from rateesquad:

So you believe that you will become an expert. By proticipating in markets and in this blog??? What would you define as an expert?
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seriously I don't know if I'm capable of what I define as an expert. Creating a Black scholes model is expert (although this isn't a trader achievement) ... I don't know if expert really exists in trading. There are so many external forces which impact trading success, that you can't honestly take all the credit. The only thing you really can control is your money management + position sizing (greed), entry system (system). and exit (greed + system).

I merely aim to be savvy enough to make a good consistent living doing something I enjoy and am stimulated by.
 
Quote from rateesquad:

So an expert is one who constantly is profitable?
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No. I'm saying in trading there is no such thing as an expert.. I think you either know survival principals or you don't. If you have an edge, it just means you have an edge - you aren't an expert. And like all edges, they must evolve or be forgotten.
 
Quote from scriabinop23:

No. I'm saying in trading there is no such thing as an expert.. I think you either know survival principals or you don't. If you have an edge, it just means you have an edge - you aren't an expert. And like all edges, they must evolve or be forgotten.
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So, you don't believe in superiority in trading got it.
 
What does OPM means?

Quote from Tums:

the other side of equation is not just $500k.

consider this:

-- you might have to move to NY or Chicago.
-- hassle in commute to the office
-- office politics
-- targets to meet. not just annual target, but quarterly, monthly, weekly, etc. There is no let up to pressure from your section head. Everybody is watching you and your P/L.
-- to make $500k for yourself, you have to carry a B-I-G load of leverage. It is OPM, but it is still money, and believe me, you can feel the stress.
-- you have to explain everything you do. If you have a down quarter, or slightly off month, the boss will be calling you to the office and ask you why. They want to know everything about you, your marital situation, your bowel movement, etc. Afterall, they have to cover their behind too, just in case you fail. (now you know why a lot of the big house traders don't last past their 30th birthday.)

oh well, there is Wall street glamour, and there is a dark side to it too.

granted, being on your own is not easy. Loneliness and boredom does affect you. You have to develop and build your net work of peer support, so that you don't go brain dead in the middle of the day.
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Depending on the terms, I'd take the 500k over the 100k. Even if I only worked one year and quit. , I could take the next 4 years off and have the same money.

Traveler
 
ahhh....

The edge.

Is it to be protected or shared? now becomes a valid question for this thread and is very on topic. we go full circle into what has developed into a marvelous thread.

Now the achievements and success then rely upon the ability to discover edges and exploit them.

What is the best way to exploit an edge?...Limit the knowledge of it? Keep it secret?...or try to find leverage within the risk parameters?...what is the cost of that leverage?

When it is said and done..and the new edge must be discovered and exploited, what is the most efficient path?

Michael B.



Quote from rateesquad:

So, you don't believe in superiority in trading got it.
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