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Don't do it.
At most, 5% of traders can make it as a short term trader. Trust me, I worked for a hedge fund where futures and currencies were held between 1 to 8 hours at a time.
Our first trader, a fairly young graduate of London School of Economics, had nerves of steel like no other. He left our firm when he hit his $10M payday for far greener pastures and we spent nearly all of our resources, just to find a prop trader as good as him. Trust me, they're rare and none of 'em make less than $5M per year even working for someone else. The last I'd heard from that first guy was that he had two mansions in England, one in the city and one in the countryside, along with a mansion in the Caribbean. And yeah, he doesn't need a mortgage, he's all cash.
For the regular person, stick with intermediate swing trading where you have a monthly or quarterly time frame using very little leverage outside of options.
Don't do it.Here's a stupid question about those who survive. Is it just technical analysis that they do, or do they work with something less tangible? Or a combination of the two?
At most, 5% of traders can make it as a short term trader. Trust me, I worked for a hedge fund where futures and currencies were held between 1 to 8 hours at a time.
Our first trader, a fairly young graduate of London School of Economics, had nerves of steel like no other. He left our firm when he hit his $10M payday for far greener pastures and we spent nearly all of our resources, just to find a prop trader as good as him. Trust me, they're rare and none of 'em make less than $5M per year even working for someone else. The last I'd heard from that first guy was that he had two mansions in England, one in the city and one in the countryside, along with a mansion in the Caribbean. And yeah, he doesn't need a mortgage, he's all cash.
For the regular person, stick with intermediate swing trading where you have a monthly or quarterly time frame using very little leverage outside of options.
Is it just technical analysis that they do, or do they work with something less tangible?
Or they are exceptionally good at sensing "event horizon" and switching to a different strategy?
Not even professional trader beat Index in the long run.
Whats your coping mechanism?