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So your point is??

OK Any idea of how many manage to do that?

But you can do both.

There is no reason not to build wealth, you just spend less than you make. I'm not a day trader, more a long term speculator. If you are a good as some of the posters claim to be then I don't see why you cannot live off your trading income and build wealth the same way someone with a regular job...

Got it. The OP stated having aquired 1 mil as a success or rather having "made it" I would have changed the defintion to being able to live off your trading. I remember years ago reading about day traders who managed to eke out a living with a 50k account. Each month they withdrew any trading...

How did you come up with that number? Why a millionaire and why 10 years?

The same way you handle a big account. protect your capital. Cut your losses quickly.

We have National bank direct.

That's what they are asking. Who is buying?

Why not a stop in the market when you enter the trade?

Must have awful tight stops

Missed you answer about position size as I was replying. 200 risk on 50k must have awful hard stops. What is a mental hard stop?

You didn't mention position size. I day traded a similar sized account a few (Many) years back. (Time flies when you're having fun) I'd risk around 1% of the account per trade but I was waiting on set-ups and only made 2 or 3 trades per day. I curious as to why you are day trading? You said you...

Max DD at $200 is 0.4% per trade. How are you position sizing? Are you using a hard stop; set when you enter the trade? Exit with profit at a target or do you have a method for letting winners run? Will trading with a live account trigger emotions that don't show up in Sim? Do you have a set of...

It's hard to cut losses when your goal is to be rich. Eventually he will realize that the way to be rich is to keep losses small. The secret to recovering from huge drawdowns is not to have huge drawdowns.

That's cool. It's not a teaching video. it's a book review of what a famous trader went through. Kind of like yourself. The first thing he learned was how to lose. That's a skill you seemed to have mastered. Now the next step is how to win. Good luck!!

Hey SML; Don't want to read books, here's a video that reviews it for you. Take 10 minutes of your busy life and take a look. You'll probably like the guys attitude. (700) The Rule by Larry Hite - Secret of Trend Following SUCCESS - (Book Summary) - YouTube

Sorry about that. Obtuse, probably but not intentionally. I'm not sure what information I would garner or how I would use it, but I assure you thats not my intention. Just responding to your post.

I'll give you that the more experience you have, you "should" make better decisions. Percentage wise trading multiple contracts is no more profitable than trading one contract. Where it gets tricky and emotions come into play is when you start looking at the dollar value of your trade. The...

I'm assuming this is theory. For all the "Should be able to's" out on social media, there seems to be little proof that retailers make any significant money. At the top of every profession there are superstars. I'm sure there are traders who kill the futures market regularly. But one of the...