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Treat it like a career and you may have a fighting chance.
Treat it like a hobby, and well, hobbies cost money…
More like, take it like a career and end up in Wendy’s
No, statistically you are most likely to lose money over time. You are competing against big business who have the tech to buy and sell Millions of dollars milliseconds faster than you cam react to the data on your screen. You would be competing against high tech AI algorithms who monitor and react faster than you could ever. You would be competing against companies who can afford to buy insider information to make the big plays. Ultimately, nobody can predict the future accurately either.
Despite all of these advantages these companies have that you don't, most end up having a lower return than just buying a low cost erf tracking the S&P 500. Just do low cost index investing and youbare good to go.
This.
Do it as a hobby for a few years and see if you can be consistently profitable or profitable overall. One bad downturn wipes most people out.
People who can do it, they don’t publicize themselves and they also relied on a black swan event to make their fortunes. In the current market where there’s high sentiment based volatility, you will not win against the hedge funds as RA1 mentioned.
I know Portfolio Managers who have done tours with Citadel/Jump and are now trying to make it big at smaller shops where they can eat more of what they kill. They still rely on the shops having special infrastructure for algorithmic trading and special data brokers in order to do what they do. Trying to casually do it from home by reading S1 filings probably isn’t going to work as all insights from those are widely known and incorporated into strategies as soon as they’re released
The odds are stacked against most amateurs. A few good trades here and there, sure, consistently making money while properly managing your risk is difficult without an institutional infrastructure.
What is the name of the book or program you are trying to sell?
Haha, been reading Andrew Aziz and also the Markets Wizards interview books
The people who are successful generally:
1. Have been in the markets for a while
2. Have developed strategies that work for their risk profile
3. Are extremely disciplined and have defined risk/reward levels
4. Have larger amounts of capital and can adjust positions and scale when needed. This also helps because with larger capital you need less % ROC to make a decent living.
99% of people who quit their jobs for full time trading lose their money and go back to their jobs. It's a hard life
I’ve sold options this year on a smaller account and returned $5k.
Big money screws when you go for home runs. Should you be happy with small base hits or eating the market movers crumbs then I will say you can 100% do it for a living.
Once my portfolio reaches 250k I think I could easily make a living selling options. Don’t ever buy options and if you do it better be on good names and also be Leaps. Otherwise selling is where the advantage is for small fish
Allow me guide you. Send me a message
Serious question, where does this statistic that people often refer to come from? How do they can get enough samples of people from the same exact background ie studies, experience, strategies, market etc to come up with this statistic? Not to say everyone can and will make it in trading. But it is possible if you put in the work.
I have a different take on hedge fund. There are 2 sides to every trade, you need to learn to ride by their side most of the time and not against them. If your R:R is 2 , you only need 35% win rate to be profitable :)