1% profit per day

Well, I piced BGEN for my example because its easy to trade and goes up and down like a whore's drawers. There are several dozen to pick from. If you think going 400% is risking the farm, well I'm so surprised I don't know how to react. There are guys on this board who will go 8 times with a yawn. For the record I call 25,000 a small account and 500,000 a big account for an individual trader to use on a daily basis if he/she goes flat at the end.

Right, today was as difficult as it gets to trade, if you're up today you're good.
Good luck to you.
 
Originally posted by nitro


...Honestly, these days where the market opens up 200 points and continues to rally from there, with the spoos clinging to the high for hours, well, I can do without them. Once the spoos left the "safety" of the highs, I had all good trades...(too little too late.)

nitro
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I agree... a lot.
 
I am glad to hear that I am not the only one who had a tough time today. Nothing more frustrating than having a bad day when it feels like the rest of the trading world is celebrating.

As far as this 1% debate goes, how would someone who derives all of their income off of a small trading account (40,000) live on less than 1% a day. ? It is useless to talk about compounding for someone who trades for a living, because we sweep our profits to pay the bills. 1% a day is $100,000 a year in a profession where we have to pay for our own medical insurance, trade related services etc. On this point I agree with Geezer that 1% a day on a small account should be attainable, not just to be a successful trader, but to make a living wage.
 
Originally posted by thunderbolt
I made $512 after commish today. I started the day with $33,255 in my account. That would be roughly 1.5%.
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Thunderbolt there is a big difference between making 1.5% on a "good" or "decent" day and averaging 1% over an entire year, especially when you have an account much larger than 33k...
 
Originally posted by thunderbolt
I made $512 after commish today. I started the day with $33,255 in my account. That would be roughly 1.5%.
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WTG thunderbolt!

nitro
 
I would have to add myself to the bad day club. Nothing like going to bed smug and waking up feeling like an idiot.

One thing that was pointed out to me, and makes a lot of sense. I did a lot of driving over the weekend, so Monday I closed out a few shorts early and took a nap. Around 2 I set up some shorts and decided at days end to let them ride, just till morning. The point though, was not to try and make decisions when you are tired or otherwise pre occupied, and this lesson was a little more expensive than a few hours on a shrink's couch.
 
Originally posted by Publias


Thunderbolt there is a big difference between making 1.5% on a "good" or "decent" day and averaging 1% over an entire year, especially when you have an account much larger than 33k...
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My Graphically Gifted Friend...
What's the use?

Paix et Bon Appetite,
:) RS
 
Originally posted by rs7

My Graphically Gifted Friend...
What's the use?

Paix et Bon Appetite,
:) RS
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That is the 2nd "graphically gifted" comment... I take it you like my sig?? :D

PEACE my friend,
Publias
 
Originally posted by Publias


That is the 2nd "graphically gifted" comment... I take it you like my sig?? :D

PEACE my friend,
Publias
More...
Yup....what's your going signature design rate?
Spokoj my friend,
RS
:)
 
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