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Know a guy who makes $40k month as a day/swing trader.
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Date: November 23rd, 2017 6:29 PM Author: chocolate headpube Not flame. He's from the Phoenix, AZ area. (http://www.autoadmit.com/thread.php?thread_id=3807136&forum_id=2#34758048) |
Date: November 23rd, 2017 6:30 PM Author: citrine cracking corner (it is 1999) (http://www.autoadmit.com/thread.php?thread_id=3807136&forum_id=2#34758051) |
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Date: November 23rd, 2017 6:30 PM Author: excitant nibblets how much capital does he have to work with (http://www.autoadmit.com/thread.php?thread_id=3807136&forum_id=2#34758054) |
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Date: November 23rd, 2017 6:31 PM Author: chocolate headpube $200k in trading capital. (http://www.autoadmit.com/thread.php?thread_id=3807136&forum_id=2#34758057) |
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Date: November 23rd, 2017 6:41 PM Author: Confused station he's full of shit
40k was probably a good month for him. if he could average 20% on his capital monthly, he's god. |
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Date: November 23rd, 2017 6:41 PM Author: chocolate headpube No. He's not trading large cap stocks. Pretty much all of his trades involve stocks under $15. (http://www.autoadmit.com/thread.php?thread_id=3807136&forum_id=2#34758103) |
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Date: November 23rd, 2017 6:42 PM Author: Confused station just think about this carefully. how likely is it that a guy who can generate $40k a month would have a grand total of $200K in capital?
also the whole trading stocks only under $15 suggests he's a retard. |
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Date: November 23rd, 2017 6:43 PM Author: chocolate headpube What? You assume he's been trading for years and should have a $2mm trading account.
Not ALL of his trades involve stocks under $15, just the majority. If there's a great play involving a $150 stock, he'll play it, but it's not his bread and butter. |
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Date: November 23rd, 2017 6:51 PM Author: Confused station ok, so he's been doing this for a short while. doesn't say much about his abilities. the past year and a half has been remarkably benign. (http://www.autoadmit.com/thread.php?thread_id=3807136&forum_id=2#34758140) |
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Date: November 23rd, 2017 6:49 PM Author: electric den mad cow disease 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. |
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Date: November 23rd, 2017 6:50 PM Author: Crusty sanctuary party of the first part your LL and TNDM picks were 180
what should we buy now? |
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Date: November 23rd, 2017 6:52 PM Author: electric den mad cow disease Tndm didn't really pop like I wanted. I still check the stock everyday because it has the #'s to supernova after the last reverse split and warrant deal
Edit: I'll post some more picks when I get back in the office Monday. I've been pretty focused in my algos recently |
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Date: November 23rd, 2017 6:55 PM Author: Crusty sanctuary party of the first part 15% for a 2 week trade was still great. i got out when it hit 2.9 (http://www.autoadmit.com/thread.php?thread_id=3807136&forum_id=2#34758152) |
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Date: November 23rd, 2017 6:50 PM Author: Confused station how did your LL position work out? i know it popped after you loaded up on it, but did you get out ahead? (http://www.autoadmit.com/thread.php?thread_id=3807136&forum_id=2#34758136) |
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Date: November 23rd, 2017 6:53 PM Author: electric den mad cow disease Eh it worked decently. Would have hoped it to continue so I could have held a legit swing position. And yeah, I was out of most of it within a matter of days (http://www.autoadmit.com/thread.php?thread_id=3807136&forum_id=2#34758143) |
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Date: November 23rd, 2017 6:55 PM Author: electric den mad cow disease Also sold $5k of BTC at $2k a few months ago despite telling myself everyday it was a long, long-term hold. I am human and did have bills to pay (http://www.autoadmit.com/thread.php?thread_id=3807136&forum_id=2#34758150) |
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Date: November 23rd, 2017 6:59 PM Author: cheese-eating sooty toilet seat home I don't want to miss your recs in the future, any cr way to keep up with your posts? (http://www.autoadmit.com/thread.php?thread_id=3807136&forum_id=2#34758167) |
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Date: November 23rd, 2017 7:51 PM Author: electric den mad cow disease I'll put it on blast. Or maybe I'll just make one thread I keep bumping. Lot of stock wisdom on this boart (http://www.autoadmit.com/thread.php?thread_id=3807136&forum_id=2#34758409) |
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Date: November 23rd, 2017 7:11 PM Author: Confused station crypto is insanely inefficient. have you thought about applying your trading skillz to crypto more fully? (http://www.autoadmit.com/thread.php?thread_id=3807136&forum_id=2#34758230) |
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Date: November 23rd, 2017 7:49 PM Author: electric den mad cow disease OFS. Only problem is the technology and I wouldn't be patient enough to wait for good setups. I trade about 50 different stocks a week and would feel tied down trading just one crypto.
I also don't know how shorts work in crypto and the commissions are pretty high iirc |
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Date: November 23rd, 2017 6:52 PM Author: provocative hospital Isn’t it highly variable? (http://www.autoadmit.com/thread.php?thread_id=3807136&forum_id=2#34758142) |
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Date: November 23rd, 2017 6:54 PM Author: adventurous chest-beating candlestick maker elastic band no, this guy has just decided he'll make 40k a month every month (http://www.autoadmit.com/thread.php?thread_id=3807136&forum_id=2#34758148) |
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Date: November 23rd, 2017 7:02 PM Author: provocative hospital Oh, wow. Smart. (http://www.autoadmit.com/thread.php?thread_id=3807136&forum_id=2#34758172) |
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Date: November 23rd, 2017 6:54 PM Author: Crusty sanctuary party of the first part 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 |
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Date: November 23rd, 2017 6:56 PM Author: Confused station i'd say top .5% (http://www.autoadmit.com/thread.php?thread_id=3807136&forum_id=2#34758154) |
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Date: November 23rd, 2017 7:00 PM Author: Crusty sanctuary party of the first part i wanted to be safe. the answer is probably in between our estimates. probably 1~2% i would guess if we surveyed all day traders and we got a 100% truthful response rate
i think a large majority of day traders dont even make any money and eventually get out of day trading or go bankrupt |
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Date: November 23rd, 2017 7:03 PM Author: provocative hospital This (http://www.autoadmit.com/thread.php?thread_id=3807136&forum_id=2#34758179) |
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Date: November 23rd, 2017 6:58 PM Author: electric den mad cow disease 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. |
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Date: November 23rd, 2017 6:59 PM Author: Confused station medallion has averaged closer to 40%. 80% gross of fees. (http://www.autoadmit.com/thread.php?thread_id=3807136&forum_id=2#34758165) |
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Date: November 23rd, 2017 7:02 PM Author: Crusty sanctuary party of the first part medallion is pretty much HFT/market making right? (http://www.autoadmit.com/thread.php?thread_id=3807136&forum_id=2#34758174) |
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Date: November 23rd, 2017 7:06 PM Author: Confused station not necessarily market making. it's a statistical arb firm, so it will trade any signal it can that it thinks is predictive. (http://www.autoadmit.com/thread.php?thread_id=3807136&forum_id=2#34758199) |
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Date: November 23rd, 2017 7:10 PM Author: Crusty sanctuary party of the first part https://www.bloomberg.com/news/articles/2017-08-16/renaissance-s-medallion-made-stunning-shift-after-trump-election (http://www.autoadmit.com/thread.php?thread_id=3807136&forum_id=2#34758223) |
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Date: November 23rd, 2017 7:13 PM Author: titillating mahogany garrison I'm inclined to agree with Munger's opinion about Medallion and Renaissance in general: it's legalized front running (http://www.autoadmit.com/thread.php?thread_id=3807136&forum_id=2#34758236) |
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Date: November 23rd, 2017 7:03 PM Author: obsidian famous landscape painting Let’s do this but for crypto (http://www.autoadmit.com/thread.php?thread_id=3807136&forum_id=2#34758178) |
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Date: November 23rd, 2017 7:04 PM Author: provocative hospital 20 percent a year is less than 2 percent a month. (http://www.autoadmit.com/thread.php?thread_id=3807136&forum_id=2#34758182) |
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Date: November 23rd, 2017 7:06 PM Author: chocolate headpube 20% a yr as an independent trader is not good (it's less than 2% a month). Stop comparing what's considered good for a billion dollar hedge fund to what's good for an independent trader with a $200k account. An independent trader is much more nimble. (http://www.autoadmit.com/thread.php?thread_id=3807136&forum_id=2#34758197) |
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Date: November 23rd, 2017 7:09 PM Author: Crusty sanctuary party of the first part i know this. but even with 200K a guy consistently making 20% YoY for a good stretch of time (say 10 years) is easily going to be in the top 5% of day traders (http://www.autoadmit.com/thread.php?thread_id=3807136&forum_id=2#34758214) |
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Date: November 23rd, 2017 7:09 PM Author: titillating mahogany garrison IIRC the top dudes who are day trading and end up flat at the end of each day (chopping quarters and dimes and what not) and not investing their capital averaged about 80% annual returns pre-tax from some random paper I read a few years back, and this is after factoring the enormous washout rate.
From an investor's perspective: They deserve it IMO - the stress is just too much. |
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Date: November 23rd, 2017 7:13 PM Author: Crusty sanctuary party of the first part 100% cr
lol @ people saying its only 2% a month as if making 2% a month is straightforward. maybe 1% of traders can make 2% a month for couple of years straight. 99% of us would have losing months in there actively day trading |
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Date: November 23rd, 2017 7:21 PM Author: titillating mahogany garrison 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.
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Date: November 23rd, 2017 7:05 PM Author: obsidian famous landscape painting I loaded up on nktr sq and ostk recently. My trading acct at IB started the week at 250k but is now at 305k. Also holding MOMO, ttd, anet. Recently bought splk and skx. I recognize that this is insanely retarded luck but feels 180 (http://www.autoadmit.com/thread.php?thread_id=3807136&forum_id=2#34758192) |
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Date: November 23rd, 2017 7:50 PM Author: electric den mad cow disease NKTR is a great Trump play. That's one of my convinction longs just because I think their shit is a game changer. No other fundamental reason (http://www.autoadmit.com/thread.php?thread_id=3807136&forum_id=2#34758407) |
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Date: November 23rd, 2017 8:04 PM Author: obsidian famous landscape painting 180 (http://www.autoadmit.com/thread.php?thread_id=3807136&forum_id=2#34758474) |
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Date: November 24th, 2017 10:43 PM Author: obsidian famous landscape painting Acct up to 313k!!! Started reluctantly taking some profits today. I think we’re gonna majorly moon in December but see a sharp pullback before we do (http://www.autoadmit.com/thread.php?thread_id=3807136&forum_id=2#34765473) |