Full time trading does it really pay

[HowardCohodas]

I am sure Howard will see no irony in this - he's American after all.

They think irony is something done in a Chinese laundry after washy.

You haven't made me laugh in a long time. Thanks.

 

[DionysusToast]

You haven't made me laugh in a long time. Thanks.

No Plobrem

 

[meanreversion]

I took the shinkansen (bullet train) from Tokyo to Gala Yuzawa once.. you get off the train and the ski station and lifts are right there (very convenient). An enormous sign suspended from the ceiling had some kanji and beneath the translation "Gondora".

 

[wackypete2]

No Plobrem

What's a "plobrem? Must be some anti-american slur.

Peter

 

[meanreversion]

You a member of the tea party Pete? What biscuits do they take with their tea.. from experience I know the quality of biccies is poor in the States.

 

[DionysusToast]

MR - The tea doesn't get drunk - it goes in the drink. Didn't you study history?

 

[meanreversion]

Boston Tea Party was on Dec 16th, my birthday. According to historian Niall Ferguson;

“…most people assume [the Boston Tea Party] was a protest against a hike in the tax on tea. In fact the price of tea in question was exceptionally low, since the British government had just given the East India Company a rebate of the much higher duty the tea had incurred on entering Britain. In effect, the tea left Britain duty free and had to pay only the much lower American duty on arriving in Boston. Tea had never been cheaper in New England. The ‘Party’ was organized not by irate consumers but by Boston’s wealthy smugglers, who stood to lose out.”

Well, trying to discuss this with Americans is as much use as trying to debate tipping. So I don't bother.

 

[DionysusToast]

lol - you had an angry waitress corner you in the car park too ?

 

[meanreversion]

But f-ck it, I'll mention it anyway.

My parents worked and travelled in the States in 1969, when the average tip was around 10%.

Now it's 20%.

What happened? Who sets this figure? Don't people realise it's a direct subsidy of the owner's profits?

(See 'Reservoir Dogs' as well)

 

[DionysusToast]

MR - The US is a socialist country - they just don't like to pay in to the system in the old fashioned way.

 

[wackypete2]

So how is all this affecting the current price of tea futures? I want to go long tea and short biscuits.

Peter

 

[wackypete2]

But f-ck it, I'll mention it anyway.

My parents worked and travelled in the States in 1969, when the average tip was around 10%.

Now it's 20%.

What happened? Who sets this figure? Don't people realise it's a direct subsidy of the owner's profits?

(See 'Reservoir Dogs' as well)

For 5% I can get a good tip on some horses....

Peter

 

[brettus]

That's probably true although I know a chap who at one point was borrowing money on his credit cards to trade, and is now worth a healthy 7 figures.

You're chances of making a living off £20k are slim, no question, but given enough time and perseverance, a £20k account could become something considerable. There's a difference between cautious and blind optimism, and sometimes there's too much negativity about the outcome of trading. If you're convinced you're going to fail, you probably will (there's also a Seykota quote along these lines).

Yea. I wouldnt count on luck so much. Some people can do it, but most that win, don't need to make a living off it.

 

[Black Swan]

You cant make a living off trading a 20k account.

Nonsense.

 

[meanreversion]

For 5% I can get a good tip on some horses....

Peter

Very artfully not taking the bait ..

Come on, tell us what you think about tipping.

 

[brettus]

Nonsense.

It's not impossible, but i won't count on it. Making money on a 20k account is possible. A living is a whole different kettle of fish.

 

[Pazienza]

Nonsense.

You forgot "ENDEX".

 

[Black Swan]

It's not impossible, but i won't count on it. Making money on a 20k account is possible. A living is a whole different kettle of fish.

Do you think taking on average 100 quid a day out of the market on a 20K account is acceptable, or actually quite a poor performance? Even that'd return the average UK wage wouldn't it, (2K+ per month), and if you SB (in theory) it should be tax free...

 

[Pazienza]

Do you think taking on average 100 quid a day out of the market on a 20K account is acceptable, or actually quite a poor performance? Even that'd return the average UK wage wouldn't it, (2K+ per month), and if you SB (in theory) it should be tax free...

TBH if you can't pull an average of 100 quid a day out of trading the forex off short TFs (like I do except when I scalp for fun and a bit of cash) you shouldn't be trading endex mate bud bless..fookin ffs . It's not rocket science iirc. for us professional traders on this suite of forums bless...

 

[brettus]

Do you think taking on average 100 quid a day out of the market on a 20K account is acceptable, or actually quite a poor performance? Even that'd return the average UK wage wouldn't it, (2K+ per month), and if you SB (in theory) it should be tax free...

It's decent, but in reality you won't make £100 a day(not you). Some days you will, but not everyday. Just realistically it's not possible for 99% of traders. You can't always be right. Also the psychological pressure, due to the fact that you have to make money. In theory it sounds easy.