Ask a professional trader anything. Pic related

How much money did you start trading with and when? How much do you make per month?

Three questions:

1. What programs are you using in pictured?
2. How much did your setup cost (pictured)?
3. How did you get your job? (I plan on taking my series 7, but lack the social capital.

I started with $10,000. Didn't make much progress at first. I'd be up a few hundred one week, down a few hundred the next. Started making more intelligent trades as I learned the art of trading. Got picked up by a firm and learned from some very experienced traders. On an average year, I'll make around $100,000 before taxes.

I've had a year I lost money.

>>999090

1. Trading Technologies X-Trader, industry standard for market makers.

2. I have 10 monitor setup and I run it on a Dell tower server. I didn't pay for it, my company did. If I had to guess, maybe 2-3k.

3. Traded my own money. Started posting my trades on twitter, got involved in a trading community online, got picked up by a market making firm.

>>999091
How much time do you spend day trading? Sound like you have to be consistently on your computer for 10+hrs

>>999101
Per day*

>>999101

I'm watch the markets constantly from 7AM to 3PM central time. Start watching it again from 5PM to around 1AM but only about once every hour. That's just how I like to trade. I know guys who are glued to their computers from the time they wake till they go to bed.

>>999101

As for the amount of time I spend trading, I'm a very patient trader and I'll only make on average 3-4 aggressive entries a day. I also put on longer term positions once a week or so that I'll hold for a few days, weeks or a few months.

>>999056
what are some currently low cost stocks to look toward as potential few months to a year investment?

>>999098
I value a clear response - thank you.

More questions:

1. In terms of Internet connection security, when you first began trading online, did you fear hackers stealing your info? If so what steps did you execute? This is s big reason why I have not started trading yet.

2. How long did it take you to get noticed on Twitter, by this trading community?

3. What is the name of this trading community?

>>999122

Well, I'm a futures and options traders in commodities, energies, and indexes. I don't follow stocks too closely, but I do follow stock indexes (S&P, NASDAQ, VIX) very closely. I don't recommend buying any stocks right now.

I also don't recommend buying low cost stocks. They are cheap for a reason: no one wants them. Sorry I couldn't give you any solid stock picks but there is too much risk in equities right now.

>>999056
Do you use quantitative analysis or mostly fundamental coupled with technical?

I'm attempting to learn more about algorithmic trading, but I just wanted to know your approach to the markets.

>>999125

1. No, I never feared my account being hacked. Most online brokerages have extra security to ensure that to prevent such a thing from happening. I'm sure it has happened before to some people, but I've personally never heard of it happening to anyone I know. Having said that, I never trade on public connections and have two-step account verification as prevention measures.

2. About a year. I'm still not 'huge' or anything on twitter but I got involved with a very committed community of traders. Having a trading partner or community is vital to keep your head level and to prevent oneself from taking too much risk.

3. Well, there are several. I used to go on stocktwits a lot and there are a few good traders there. A lot of the traders there though are childish and like to start flame wars. I got involved with this guy on twitter named MrTopStep and he posts videos on youtube about trading strategy and market sentiment. Those could be some good places to start.

>>999137

I use every tool in my arsenal to give me an edge on the markets. For options trades, I usually use quantitative analysis to spot out option contracts that are too 'cheap' or 'overpriced' and I like to exploit market inefficiencies. When I trade futures, I am mostly a fundamental trader because I am literally speculating about the future fundamentals of that certain financial product. I am also huge on technicals, but that is mostly reserved for finding good trade entries and exits.

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post your 2015 track record with a timestamp

>>999056
1) What do you think of the actuarial profession?

2) What do you think everyone should know to not make themself look like an idiot in the trading world? I've seen idiots who don't even know what a derivate is.

its the same troll from yesterday

>>999056
I like how people in this forum talk a lot about stocks yet your thread gets jack shit, just a bunch of shills.

also buy bitcoin op

The other night I was high as fuck, playing around with the Pine scripting language on Tradingview.com, when I came up with something that plots future points of support and resistance which markets seem to respect. I've tried trading with it but I end up losing because I'm still just guessing. My question is if you have any advice for setting up a series of rules for trades. Also can you recommend any books on automated trading systems?

>>999131
>energies

what's you're opinion on the Saudi-US/shale war

>>999650
beating the system is as simple as writing a few lines of code

>>999098
'market maker' my ass

you're clearly a 'local' at a trading arcade... while you can perhaps claim to provide liquidity the idea you're 'market making' with off the shelf software from TT is utter BS

Why all the DOMs? Are you a trader or market maker?

What exchange you work in? Stocks, futures?

How'd you get started?

I'm a futures trader. Traded stocks for a firm for 6 months but got fired due to poor performance. Have tried options and FX as well, but I only seem to be successful trading /CL. Should I just keep doing what I'm doing or? I've always wanted to work as a MM for a broker. How'd you get there?

>>999675
in fact your screen print shows this market making claim to be bogus - you've got just three limit orders below the bid on just one of those ladders.... that isn't market making

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>>999680
strange that every 'professional trader' always turns out to be a lying neckbeard or someone selling 'seninars'

Topkek

a hobby of mine is going to amateur trading forums and asking for proof of their trading history.

>go to shitty forex forum
>ask for their myfx account name
>get banned

>>999056
Fed rate hike....
Yes or no

what do you think of Zero Hedge?

How would you suggest someone get into trading?

What should they be trading (stocks, futures, commodities, forex)?

Do you recommend any books or online resources for beginners?

Can someone make money in trading using their own money (I have around $50k, which im cautious withh) part time, or is it a full time thing?

Thanks

>>999698
From the US standpoint it makes sense for them to raise rates. It makes their currency appreciate, large capital inflows, and they are able to buy so much more shit with the same amount of their money. Plus Saudi has their currency pegged to the US so when it appreciates they'll have to buy more to keep the peg active around that certain band. Also if they raise rates then they'll at least have some sort of defense if the economy goes to shit as they can lower rates again, but if they're already low they can't cut further.
From the rest of the worlds standpoint it would be terrible for them because a lot of countries are still doing QE and the few that aren't and have no plan to are postponing their rate hike.
>>999810
Don't trade, you'll lose money majority of the time. If you're cautious you won't be able to handle the stress of trading. My international finance teacher runs a few billion dollar funds with a variety of strategies mostly being FX focused. He never trades but thinks about what will happen to each country and invests accordingly and if his view changes he may change position in a few days, few hours, or months. He never goes in looking for that quick buck in FX and says that's how you'll lose money. Start looking into which countries are affected by what. For example a currency appreciation in China will cause all their exports more expensive so look for their major trading partners who will negatively be affected by the currency appreciation. Another example is looking at currencies correlated with the price of oil. Canada is 90% correlated to the price of oil so if oil prices drop then the CAD will depreciate so invest accordingly. If you expected oil to drop in the past few weeks and went long USDCAD you'd make a killing because it went from 1.33 almost a month ago to almost 1.38 a few days ago. Just think logically and don't trade.

>doesn't make enough trading to afford a Bloomberg terminal or Reuters market data services.

>>999056
mbx, tsx stock, pipelines lined up, growing small quaint biotech company, what do you think?

do you ever wonder when youll get cancer because of monitor radiation.

>>999685
It's because no one around here respects fucking terminology.
"Professional Trader", "Day Trader", "Buying memes on Robin Hood".
These might as well all be the same thing on this site.

>>999895
That's because the word professional doesn't mean anything. It's something they call uni graduates that slave wage at firms so they don't feel like slaves. Nothing glamorous about working 90 hours a week for some baby boomer faggot who doesn't even understand calculus.

>>999810
>part time, or is it a full time thing?
It varies.
Some people don't take it very seriously, or put much time in to it. They also may not expect much out of it, maybe just playing around.
Others put lots in to it and expect results.
You will miss things by operating part-time (sometimes crucial things), but there's very few who can day trade full-time as their sole gig.
I'd say your 50K is close to what a minimum starting amount would need to be, but the fact that you're "cautious with it" may affect your trading negatively.

are you happy?

Do you perform better than a chimp with your stock picks?

>>999909
>professional doesn't mean anything
Yeah, maybe not in an achievement sense.
I'd still use it to differentiate between the people you describe and day traders. Trading with a firm's money versus your own is apples and oranges.

>>999912
Why do you guys always peddle this "have a lot of starting capital" bullshit, when in reality trading is incredibly unsophisticated supply/demand chart reading of smart money influx/outflow. Market efficiency axiomatic approaches are just plain pseudoscience with no evidence backing them up, and vague psychology like approaches to it all. So one can pretty much eliminate the stuff they teach in school about optimized portfolios and measuring risk as standard deviation. Someone with access to level II quotes and live charts could conceivably start with 10k (as I have) and succeed regularly trading gaps for an avg 3-5% gain. Where this "you have to be loaded to succeed" nonsense is coming from I really don't know. Also you assholes act like the avg finance student grad just has 50k to blow, or will get access to over 50k in margin. Stop discouraging new traders with this pompous nonsense.

>>999935
Whoa, calm down.
It's just a matter of numbers. The lower your starting capital, the larger percentage of it will be eroded by commissions, fees, slippage, margin, etc. This isn't even including poor trades that lose money.
Basically, you're increasing your odds tremendously by upping your starting capital. Also, do you know what kind of positive effect not having to worry about another job or bills brings?
I'll tell you. It allows you to trade far more aggressively, and if you screw up, you can easily start over.
Do you see why this would be beneficial?
It's not that it's impossible to succeed with 10K, you're just making it more difficult for yourself, and in a field where most fail, that sounds suicidal.

>>999946
Most fail because of misinformation and unscientific nonsense being taught in our programs. I was fortunate to be exposed to stem and finance/economics in conjunction, and the amount of purposeful shitty information we get on investing in university is appalling. Again, where do you imagine the vast majority of people are going to find 50k to invest with? Even people who work on wall street making over 80k a year are in debt for years after graduating. And you peddle this pompous wish wash attitude of "oh 50k is minimal" Minimal? Are you insane? You're utterly disconnected from reality. Most people can barely scrape 10k together let alone afford to lose 50k.

>>999958
The fact that people "can't scrape it together" doesn't really alter the probabilities, does it?
If people couldn't "scrape together" $10K, would you then argue that $5K was enough?
Also, you're not even mentioning the $25K required to satisfy the SEC's day trader rule. Without that, your account can be frozen for 30 days instantly. The stupidity of trying to trade with these disadvantages is apparent to most.
I understand your point that most people don't have that kind of money, but have you considered the possibility that "most people" aren't going to be able to do it profitably?

how many 10-ks do you read a week

>>999968
Well I am a leaf, and with the tfsa one can get away with day trading fine, with a maximum of 41k to be contributed. Not sure if you burgers have a tfsa equivalent. Also again what probabilities? Your approach is so unscientific already. You have literally no control even attempted to be employed in what traders do to succeed, you're looking at one variable and saying "well therefore you need x capital to make x amount on avg"

Again this is my criticism of the finance/economics community, and this is why scientists laugh at us. Most people wont be able to do it properly sure, because most people don't know how to test scientific assumptions, or to expand upon what are in my opinion extremely vague (imo intentionally) studies on how to invest.

What's your dick size?

>>999981
Ok Canada, that simplifies things.
In the US, the SEC imposes a minimum balance of $25K for people they consider "pattern day traders". Anyone trading the same stock repeatedly (as most traders do), or trading without a margin account, gets flagged inside of a week. If you don't have $25K and a margin setup, they freeze your account for a month.
I know people who have tried to duck them by opening additional brokerage accounts, but it gets costly, and is a horrible way to have to trade.
This is why (at least here in the US) the probabilities heavily favor wealthier participants.

>>1000002
Which post got the septs?????

>>1000280
This one, >>1000000.