Know a guy who makes $40k month as a day/swing trader.
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Date: November 23rd, 2017 6:49 PM Author: Crawly Tripping Pit
I'm a prop trader (ie I do this for a living at a firm) and I find this hard to believe. That's probably a good month or couple of months. It's definitely possible - guys like Tim Sykes have turned 20k into 1mm day trading - but no way he pulled 20% returns month over month for an extended period.
Sept - now has been great for low floats and biotechs so I don't doubt he's been killing it recently
I'd be curious to know what his strategy is. If he sticks to technicals, news events, after hours, etc.
(http://www.autoadmit.com/thread.php?thread_id=3807136&forum_id=2#34758131) |
Date: November 23rd, 2017 6:54 PM Author: Exhilarant Purple Becky
unless you are market making its impossible to consistently make 20% month after month especially as a day trader. and even those guys (rentech, GS etc) dont make anything close to 20% a month
if you make > 20% every calendar year day trading then you are probably in the top 5% of all day traders. and this guy is making 20% a month? give me a break
(http://www.autoadmit.com/thread.php?thread_id=3807136&forum_id=2#34758146) |
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Date: November 23rd, 2017 6:58 PM Author: Crawly Tripping Pit
Institutions don't trade these stocks, that's why there's still a lot of egde. There's no reason for Drys to go $3>$100 in 72 hours, or HMNY tongo from 1.30 > $33 in a week last month. At a certain point this shit just becomes a video game.
Ren's medallion fund has AVERAGED 20% y/r for the last decade. They've had a 6 Sharpe and has pretty much been the best fund in modern history. They have pushed their capital limits and really can't get bigger.
The hft and maket making shit is also just designed to get commission from the exchanges and have great returns, but those margins have been eroding over the past few years.
(http://www.autoadmit.com/thread.php?thread_id=3807136&forum_id=2#34758164) |
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Date: November 23rd, 2017 7:21 PM Author: trip home
Ya.
That's why I quit trading early in my career - once I had my bank roll up to a decent enough size to take the slow lane I did.
I'm the kind of guy who has no problem spending 20-50+ hours analyzing a companies financials or a situation that makes sense to me and laying out money to make 10-40% depending on the situation and time frame (in a few months or a year or so)
But give me a 20-50 minute time frame or even intraday? Outside of some extremely limited situations no way could I make any money consistently.
(http://www.autoadmit.com/thread.php?thread_id=3807136&forum_id=2#34758275)
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