How much profit does a Full-time trader deserves in a Month?
- Thread starter soft_trader
- Start date
Hi,
Journey Towards Professional Trading
I joined that Organisation around October, 1997 and my first week was totally eventless. I simply came around 9:30 AM and left for my room around 6 PM. After first week, my boss (Broker) called me to his chamber and gave me a sheet. That sheet contained daily clientwise profit/Loss statement. He said just go through it and I will give such statement for the next 5/6 days. He wanted my view on that report. After 5/6 days, he just wanted my view. I told him that I could not understand any thing from these reports. He first told me now you were the employee of this company, so don't discuss anything with anybody regarding our discussion. Try to keep it as secret as possible. I promised him to keep that secret intact. Now he told me, just look at the report, this was the clientwise trading (day as well as positional) report and almost everybody was a looser. Now we had made a process to make profit from these loosers. Whatever the profit you incurred from your trade you will be given 15% of the profit as incentive. At that moment I was so happy I could not even explain it in my own words. There were almost 200/300 clients trading on daily basis and just imagine everybody was a looser. Now he told me he had the data base for the past 2 years. From that record he found that some clients after loosing their initial capital came back to the market again after some time. He marked them as potential candidate. Their number was around 60. Now among these 60 clients, he allotted me 10 clients to handle.
Before starting any trading, he gave me a software to conversant with the numeric key pad and gave some training about NEAT terminal. I had to practice it for two hours daily. Now in our back office, he made my sitting arrangement. Beside me, there were another four persons. Our sitting arrangement was completely separate from others. Now he told me how to initiate a position. First I had to monitor the daily trading position on live basis. At that time, the surveillance process was not so robust. So I had to depend on the dealer who was punched the order for that client. That dealer told me about his (client's) position on intercom. Now I watched his position on my screen. If he squared up his position, then I had to do nothing but if he wanted to carry forward for the nextday, then I had to open a reverse position just 20 seconds before the market closing. After that I had to wait for the position to be closed by the client, then immediately I squared up my position. Another thing which I noticed there was the cumulative client position (it was provided by the company). I found when market was near or at the immediate top, there were huge client-wise long position and when the market was near or at the bottom, there were either huge short position or severe unwinding of long position. At those points, if my marked client had any position which was supported by the market (that means if my marked client was long and there was huge outstanding long position with somedays of market rally), then I had to build up a short position that was 20 times of that client volume with subject to capping at 10 lakhs, then I had to wait for the client to close his position. It was the exact modus of operandi of the total system. In that process, sometimes you gained and sometimes you lost but ultimately you will be a winner as eventually, that client will loose his money. In that belief, I started my trading after one and half month. In the first two month I was not able to make any profit (although there was no loss). Then my boss came and told me in a heavy voice that you must learn this skill from your colleagues and if you can't able to raise your performance then he might fire me. Now I felt the real private job pressure. I analysed my performance and I found most of these 10 clients trade in the B-Group shares which can not be carry forward to the next day and most of them were delivery based. So I told my boss regarding this issue but he did not want to hear any thing and said you have to concentrate on these 10 clients. Finally, I concentraded on 2-3 clients whose most trades were in A-Group shares. I thought, I should raise my normal volume to four or five times that of the client's volume so if there were any loss then I had to leave this company otherwise I would able to pay back my dues. It was a make or break type of situation. Fortunately, in the third month, I was able to make a profit of 40,000/-. That made my boss happy and he said me to concentrate more on trading. Average monthly profits of my colleagues were around 80,000/- to 1,00,000/- in the last 10 to 12 months. That also encouraged me a lot. Do you believe, in the next five month I had pay back all his dues (i.e. 2,80,000/-). At that time, I had already became a star performer. I noticed everybody's attitude towards me had already changed. In this five month, my average monthly profit was above 3,50,000/-. I remembered that day, when I paid his last due. I was totally mad. I made parties with my friends whole night as if there was no tomorrow. In fact, it was the most satisfying day of my life.
Now just wait for my next story.
Till then
Good Bye
Journey Towards Professional Trading
I joined that Organisation around October, 1997 and my first week was totally eventless. I simply came around 9:30 AM and left for my room around 6 PM. After first week, my boss (Broker) called me to his chamber and gave me a sheet. That sheet contained daily clientwise profit/Loss statement. He said just go through it and I will give such statement for the next 5/6 days. He wanted my view on that report. After 5/6 days, he just wanted my view. I told him that I could not understand any thing from these reports. He first told me now you were the employee of this company, so don't discuss anything with anybody regarding our discussion. Try to keep it as secret as possible. I promised him to keep that secret intact. Now he told me, just look at the report, this was the clientwise trading (day as well as positional) report and almost everybody was a looser. Now we had made a process to make profit from these loosers. Whatever the profit you incurred from your trade you will be given 15% of the profit as incentive. At that moment I was so happy I could not even explain it in my own words. There were almost 200/300 clients trading on daily basis and just imagine everybody was a looser. Now he told me he had the data base for the past 2 years. From that record he found that some clients after loosing their initial capital came back to the market again after some time. He marked them as potential candidate. Their number was around 60. Now among these 60 clients, he allotted me 10 clients to handle.
Before starting any trading, he gave me a software to conversant with the numeric key pad and gave some training about NEAT terminal. I had to practice it for two hours daily. Now in our back office, he made my sitting arrangement. Beside me, there were another four persons. Our sitting arrangement was completely separate from others. Now he told me how to initiate a position. First I had to monitor the daily trading position on live basis. At that time, the surveillance process was not so robust. So I had to depend on the dealer who was punched the order for that client. That dealer told me about his (client's) position on intercom. Now I watched his position on my screen. If he squared up his position, then I had to do nothing but if he wanted to carry forward for the nextday, then I had to open a reverse position just 20 seconds before the market closing. After that I had to wait for the position to be closed by the client, then immediately I squared up my position. Another thing which I noticed there was the cumulative client position (it was provided by the company). I found when market was near or at the immediate top, there were huge client-wise long position and when the market was near or at the bottom, there were either huge short position or severe unwinding of long position. At those points, if my marked client had any position which was supported by the market (that means if my marked client was long and there was huge outstanding long position with somedays of market rally), then I had to build up a short position that was 20 times of that client volume with subject to capping at 10 lakhs, then I had to wait for the client to close his position. It was the exact modus of operandi of the total system. In that process, sometimes you gained and sometimes you lost but ultimately you will be a winner as eventually, that client will loose his money. In that belief, I started my trading after one and half month. In the first two month I was not able to make any profit (although there was no loss). Then my boss came and told me in a heavy voice that you must learn this skill from your colleagues and if you can't able to raise your performance then he might fire me. Now I felt the real private job pressure. I analysed my performance and I found most of these 10 clients trade in the B-Group shares which can not be carry forward to the next day and most of them were delivery based. So I told my boss regarding this issue but he did not want to hear any thing and said you have to concentrate on these 10 clients. Finally, I concentraded on 2-3 clients whose most trades were in A-Group shares. I thought, I should raise my normal volume to four or five times that of the client's volume so if there were any loss then I had to leave this company otherwise I would able to pay back my dues. It was a make or break type of situation. Fortunately, in the third month, I was able to make a profit of 40,000/-. That made my boss happy and he said me to concentrate more on trading. Average monthly profits of my colleagues were around 80,000/- to 1,00,000/- in the last 10 to 12 months. That also encouraged me a lot. Do you believe, in the next five month I had pay back all his dues (i.e. 2,80,000/-). At that time, I had already became a star performer. I noticed everybody's attitude towards me had already changed. In this five month, my average monthly profit was above 3,50,000/-. I remembered that day, when I paid his last due. I was totally mad. I made parties with my friends whole night as if there was no tomorrow. In fact, it was the most satisfying day of my life.
Now just wait for my next story.
Till then
Good Bye
I'm tweaking an afl for that.90% losing system, and trade opposite 
Deriving a consistently loosing system is equally hard as designing a consistently gaining system
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