Originally posted by trader99
Momo,
thanks for the suggestions. I've been making gross positive and progressively net positive days. The thing is as I've written before is I don't want to go broke before I can get really really good at this prop thing. Whereas, in the insitutional world, you are guarantee a base salary, bonus, and benefits,etc. blah blah.
But not as much "fun" and freedom of a prop trading job of just going to work at market's open and leaving when the market is closed without any other corporate responsiblities - i.e. long-term projects, writeups, presentation to clients, board members,etc. blah blah.
It would be ideal if I was super consistently net positive like even $1K/day would be nice. hehe
at least it's a goal to aspire to.
I hear what you are saying. Although, if you are trading methodically and conservatively then going "broke" won't become reality. It sounds like you are making steady progress. However, I would like to point out something. Although you love the stability and comfort a regular salaried job will give you. You detest the monotony that it foists upon you. You seek the freedom that daytrading affords you, but fear the lack of a safety net of guaranteed earnings. Therein lies the crux of the paradox. Someone very dear to me pointed this out early on. So, please don't take this as me trying to be "better than thou"
She said to me, "Why are you looking for economic stability in your life from something as intrinsically Unstable as the markets?"
It was as if, right then and there I had awaken from a self induced coma.
I didn't have the answer then. Nor do I have it now. The answer will be different for everyone.
Rest assured of these two things;
Whatever the answer is for you, it will continue to drive you to trade each and everyday.
However, it is also the very same thing that gone unanswered will keep you from reaching the pinnacle of your trading success.
On your goal of 1k a day. That is very attainable. Realize this, if you put on a trade with the conviction that it will move in your favor for .20cents then whether your position size is 100 shrs. or 5000 shrs. should not matter. So long as they are treated with the same respect. Ask yourself what is the highest, most consistent amount I can extract from the market daily.
If it's 20cents there is your thousand dollars.
-momo
