Are Any EliteTrader Users In A Prop Firm? What Are Your Returns Like?

[Overnight]

40k deposited, 10:1 leverage, 400k capital used.
Profit of 90k = 22.5% return...

A profit of 90K, on 40K deposited, is a 225% return on the money you needed to make that profit. The fact that the broker leveraged you makes no difference, because you do not owe the broker anything at the end. They fronted you what was required for you to make the profits.

But it is still the same. You invested 40K, made 90K. If he was not leveraged, he would have needed 400K to make 900K. It is still 225% profit.

 

[Willba]

May I ask:
Do you have to put up any capital?
Is this regulated by any government institution in Australia?

No we dont provide any capital and yes it is regulated and operates under an AFSL.

 

[TheDowJones]

I think a trader's returns can be whatever they make it. Their is no real ceiling on the returns if you know what you are doing. I think 200% is reasonable even in a cash account with no margin. We have just been told that 10 or 12% a year is a appropriate number for resonable risk.

 

[Willba]

I think a trader's returns can be whatever they make it. Their is no real ceiling on the returns if you know what you are doing. I think 200% is reasonable even in a cash account with no margin. We have just been told that 10 or 12% a year is a appropriate number for resonable risk.

Have seen guys in prop in the first year walk away with 80k and then in there 2nd year hitting 200k

 

[TheDowJones]

Well, to go from $80K to $200K in a year you don't need a prop firm....you don't need leverage at all. I think the media has a lot of people stuck in the matrix. People think these are amazing numbers. Develop a strategy and wear the market out. Everyday it's opportunity and it doesn't care who you are or how much you have.

 

[Willba]

Well, to go from $80K to $200K in a year you don't need a prop firm....you don't need leverage at all. I think the media has a lot of people stuck in the matrix. People think these are amazing numbers. Develop a strategy and wear the market out. Everyday it's opportunity and it doesn't care who you are or how much you have.

Exactly, there is a guy in the firm and he trades in the area of 50k a tick in the aussie bond market. Run a very large book...

Ultimately... work is the key.

 

[zdreg]

Well, to go from $80K to $200K in a year you don't need a prop firm....you don't need leverage at all. I think the media has a lot of people stuck in the matrix. People think these are amazing numbers. Develop a strategy and wear the market out. Everyday it's opportunity and it doesn't care who you are or how much you have.

true, however success is accomplished only by outliers.

 

[TheDowJones]

I agree, but it's nothing special about the outliers other than they are outliers. The outliers just aren't sleep at the wheel.

 

[zdreg]

The outliers just aren't sleep at the wheel.

being fully open to opportunity makes a person an outlier. are you open to opportunity in every area of your life?

 

[TheDowJones]

Sure