Pro or Amateur?

N Rothschild · Jul 13, 2010

Are you a pro trader or amateur?

Be honest with yourself, and we can see results so we know who is lying

Sang Froid · Jul 13, 2010

I've taken Pro and Amateur in the same vein as sports.

My main source of income is not from trading therefore I am an amateur

N Rothschild · Jul 13, 2010

sangfroidFX said:
I've taken Pro and Amateur in the same vein as sports.

My main source of income is not from trading therefore I am an amatuer.

good post.

but to add to that, making 100 quid a day/week from 5k like Black Swan doesn't count as being a pro.

luckyd1976 · Jul 13, 2010

N Rothschild said:
good post.

but to add to that, making 100 quid a day/week from 5k like Black Swan doesn't count as being a pro.

Some would say only Licensed Traders are considered Pro's.

How would you breakdown Pro vs Amateur???

Sang Froid · Jul 13, 2010

N Rothschild said:
good post.

but to add to that, making 100 quid a day/week from 5k like Black Swan doesn't count as being a pro.

It does if that is your main source of income.

Professional adj of or belonging to a profession. 2 doing something as a job rather than as a hobby 3 competent

Amateur n person who does something as a pastime rather than as a profession

Oxford English Dictionary

If I made £100 a day and that was my main source of income trading would cease to be a hobby or pastime.

N Rothschild · Jul 13, 2010

luckyd1976 said:
Some would say only Licensed Traders are considered Pro's.

How would you breakdown Pro vs Amateur???

the **** is a licensed trader when he is at home?

N Rothschild · Jul 13, 2010

sangfroidFX said:
It does if that is your main source of income.

Professional adj of or belonging to a profession. 2 doing something as a job rather than as a hobby 3 competent

Amateur n person who does something as a pastime rather than as a profession

Oxford English Dictionary

If I made £100 a day and that was my main source of income trading would cease to be a hobby or pastime.

making a 100 quid a day trading is like saying your a pro basketball player when you play for the para-olympic team, no offense to ***** in wheelchairs like!

luckyd1976 · Jul 13, 2010

N Rothschild said:
the **** is a licensed trader when he is at home?

Many are (Remote Prop Shops and an Independent RIA)

N Rothschild · Jul 13, 2010

luckyd1976 said:
Many are (Remote Prop Shops and an Independent RIA)

no idea what your talking about..but anyway....

Sang Froid · Jul 13, 2010

N Rothschild said:
making a 100 quid a day trading is like saying your a pro basketball player when you play for the para-olympic team, no offense to ***** in wheelchairs like!

Ok so you can only be a professional at trading when you make x amount of money?

Who defines what x amount is? Surely it's subjective?

If I can sustain myself and live within my boundaries making £100 a day is that not the same as someone making a £1000 a day and doing the same?

All relative surely? Once I've told my boss to shove his job and I trade solely full time will I not be a professional trader?

If I fail and lose all my money I shall be a failed professional, go back to my day job and become an amateur again.

A darts player who plays in a pub team is an amateur. When he quits his day job driving lorries and drinking beer and soley makes his income from darts then he is a professional darts player whether he wins every tournament or only scrapes a living.

luckyd1976 · Jul 13, 2010

At home traders
Remote Prop Traders (Sponsored/Licensed)
Independent RIA Registered Investment Advisors (Licensed)

N Rothschild · Jul 13, 2010

sangfroidFX said:
Ok so you can only be a professional at trading when you make x amount of money?

Who defines what x amount is? Surely it's subjective?

If I can sustain myself and live within my boundaries making £100 a day is that not the same as someone making a £1000 a day and doing the same?

All relative surely? Once I've told my boss to shove his job and I trade solely full time will I not be a professional trader?

If I fail and lose all my money I shall be a failed professional, go back to my day job and become an amateur again.

A darts player who plays in a pub team is an amateur. When he quits his day job driving lorries and drinking beer and soley makes his income from darts then he is a professional darts player whether he wins every tournament or only scrapes a living.

perhaps. would you be able to look a hedge fund manager in the eye, paul tudor jones, george soros, stan drukenmiller (any of the greats) and tell them that, YOU are a PROFESSIONAL trader, taking over one hundred of your British pounds per day?

To me a pro is someone who makes more money than they need, than they know what to do with, that makes more money than anyone they know. after all isnt that why we all became traders?

N Rothschild · Jul 13, 2010

luckyd1976 said:
At home traders
Remote Prop Traders (Sponsored/Licensed)
Independent RIA Registered Investment Advisors (Licensed)

ok you need to get a clue, and while your at it get off my thread. Registered Investment Advisor?

sighthound · Jul 13, 2010

N Rothschild said:
making a 100 quid a day trading is like saying your a pro basketball player when you play for the para-olympic team, no offense to ***** in wheelchairs like!

Its a bit like earning £150,000 grand a week saying your a pro footballer and then play for England

luckyd1976 · Jul 13, 2010

N Rothschild said:
To me a pro is someone who makes more money than they need, than they know what to do with, that makes more money than anyone they know. after all isnt that why we all became traders?

For me, it's about a job I enjoy. Best job I ever had and you know what I love it! Pays the bills and it's not about the money for me.

Sang Froid · Jul 13, 2010

N Rothschild said:
perhaps. would you be able to look a hedge fund manager in the eye, paul tudor jones, george soros, stan drukenmiller (any of the greats) and tell them that, YOU are a PROFESSIONAL trader, taking over one hundred of your British pounds per day?

To me a pro is someone who makes more money than they need, than they know what to do with, that makes more money than anyone they know. after all isnt that why we all became traders?

Hmmm point taken.

I can imagine the look on George Soros' face when I tell him I make a hundred quid a day and I'm a pro

Something like this perhaps

N Rothschild · Jul 13, 2010

luckyd1976 said:
For me, it's about a job I enjoy. Best job I ever had and you know what I love it! Pays the bills and it's not about the money for me.

Not about the money? Your partaking in capitalism at its very heart, the most pure and raw form there is and not about the money? How much are you down this year?

Sang Froid · Jul 13, 2010

N Rothschild said:
Not about the money? Your partaking in capitalism at its very heart, the most pure and raw form there is and not about the money? How much are you down this year?

Obviously he's making more money than he knows what to do with, more money than anyone else he knows, and therefore is a pro

***Incidentally along this point, would someone who is classed as a professional footballer and plays in the Blue Square premier league, his only income coming from football not be classed as a professional by the likes of Rooney because Rooney is better (allegedly).

So essentially what you're saying is... you can only be a professional if you are good. Therefore there are only a handful of professional traders earning an equal amount to the likes of Soros? EVERYONE ELSE is not a pro because they don't earn the same.

sighthound · Jul 13, 2010

sangfroidFX said:
Hmmm point taken.

I can imagine the look on George Soros' face when I tell him I make a hundred quid a day and I'm a pro

Something like this perhaps

He might think "Thats a bargain,bend over then laddie".

N Rothschild · Jul 13, 2010

Anyone who says its not about the money is a liar, or just hiding the fact they have never made any.

Trading is one of, if not the only proffesion int he world which is measured PURELY in dollars in the bank. The more dollars you have, the better you are. You arnt the best untill you have more dollars than the best. FACT.

Anybody (probably most people on this forum) Who arnt interested in becoming the greatest ever, the best money manager/trader ever..going head to toes with george soros etc..then your in the wrong game, find something else to do, you will never make it.

This job is for big swinging dicks only, those that KNOW they will be the best, ever.

People who sit with there TA and indicators, reading books off the shelf WILL FAIL. If you dont devote your life to trading, every ounce of your being, you will fail.

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