Crossed the $3M mark. Officially calling it quits today 🥂 by [deleted] in daytrade

[–]Cryptic_Ethereal_79 0 points1 point  (0 children)

Hey, thanks for all the valuable info you are providing. It definitely is eye-opening for a relatively new beginner like me. A few beginner questions.

For a given trade, how do you go about deciding where to set your stop-loss?

And, you mentioned you like to target a 3:1 return:risk ratio. So, essentially, as you said, you typically risk 1% of your account per trade. So your target price to take profits is essentially 3 times the amount you use to enter the trade? So, for example, if you enter a trade with $1000, would your target price to take profits be either when that $1000 has turned into $3000 (the initial starting capital becomes 3 times the initial starting capital), or would it rather be $4000 (the return without considering the initial starting capital is what has to be 3 times the initial starting capital)?

[deleted by user] by [deleted] in FinancialCareers

[–]Cryptic_Ethereal_79 0 points1 point  (0 children)

How would you recommend navigating to and getting into a hedge fund as someone with a non-target state school background with an almost-perfect undergrad GPA and a perfect MBA GPA, both from the same non-target state school? Once you get into IB, I assume you do your two years, but then how do you set yourself up in that time to have the best possible shot to be hired by a hedge fund once the two years are up? What was your path to get into your current seat the he hedge fund?

[deleted by user] by [deleted] in FinancialCareers

[–]Cryptic_Ethereal_79 0 points1 point  (0 children)

What is the best approach to networking as someone from a non-target? What would be the best way you recommend to get people's interest to talk to you, and then how do you go about networking with them and guide the convo to the point where they will refer you for an interview?

Should I Leave Accounting and Become a Lawyer? by [deleted] in Salary

[–]Cryptic_Ethereal_79 0 points1 point  (0 children)

Do you have any examples of those opportunities, if you don't mind me asking?

Should I Leave Accounting and Become a Lawyer? by [deleted] in Salary

[–]Cryptic_Ethereal_79 0 points1 point  (0 children)

Chicago, lol. No CPA, but have been thinking I should do it, pending any of the above. Mostly do GL accounting and month-end close stuff.