$10,000 per week

F

fiachra

Is anyone here making $10,000 a week or better? either trading Stocks,Options or Futures??and if so

1 how much capital do you trade with?

2 what stategies do you use?

Please share your success stories,

thanks
 
just a quick answer..

I know one person on this board (know them in real life) who is making 10k/week..(it's not me...not yet:))..don't want to mention the name..

daytrading, less than 30 trades/day, naz stocks, has about 500k in capital..

there are plenty of others too (that i have heard of, but i don't know for sure)...not sure if on this board though..(doubt it)



 
personally I am a big fan of ostrich egg futures. They are a great hedge against inflation and you can always take delivery and eat them if you get hard up for cash.
 
I agree with bigscalper. Don't focus on the results. Focus on the strategies, the entry points, capital protection, etc.
 
Someone with 1MM flailing about will probably make 10k a week on pure luck, which doesn't help you at all.

Learn to be consistent, start with attainable goals (2%/day, perhaps?) and be patient. Once you start to "get it", the gains will come, and then it's just a matter of keeping position and risk size commensurate with your account. You'd be surprised how fast things go after you finally settle in to your style and rhythm.
 
Originally posted by illiquid
Someone with 1MM flailing about will probably make 10k a week on pure luck, which doesn't help you at all.

Learn to be consistent, start with attainable goals (2%/day, perhaps?) and be patient. Once you start to "get it", the gains will come, and then it's just a matter of keeping position and risk size commensurate with your account. You'd be surprised how fast things go after you finally settle in to your style and rhythm.
More...

I agree, start small, and build up. The quickest way to the poor house is to have too high of an expectation. Remember it's the law of averages that keeps you in the game. Let's say you want to make 500 a day, you can make 1000 one day, lose 300 another, and make800 the next day, and there's your 500. If you try and reach a goal on a day the market isn't cooperating, you'll lose your shirt in commissions trying to reach the goal. I've had days in the beginning of my career where I've churned my self into a 2000 loss, trying to reach $500.

And find yourself a mentor!!
 
Originally posted by bigscalper
Being so emotionally attached to the monetary aspect of trading will almost guarantee failure.
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Hmmm... well monetary aspect is important.

What worth is there if the strategy doesn't make money?

What worth is there if the person mentioning the strategy isn't making money?

Who would you believe? A trader who makes $10,000 / week, a PHD Economics Professor, or a trading critic who talks a lot but can't/never trade.

Monetary success is important, for validity of the information you are receiving.

Have you ever noticed how guys who are broke says life isn't about money? The quote gains validity when a man with money says it, not from a broke guy working at McDonalds.

Emotionally attaching to a losing trade is bad but I don't see emotionally attaching to yourself as trader is bad. I am proud to be a trader.

Emotionally attaching to the monetary aspects... well 90% I disagree, I have a desire to succeed as a trader, that drives me mentally and emotionally to work hard for it. Success in trading is making more quantity with higher quality, so I work hard studying and researching to be the best in my style. As a result of making the more money and faster, leads to my personal satisfaction and fulfillment.

I know from experience and knowledge that keeping a losing trade lowers my quality and chances of making more so I take it, because I know and feel it. So be greedy, work hard for it. Don't listen to being moderate, live your desire.
 
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