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Average daily profit with $50K account?
- Thread starter fcg007
- Start date
Quote from goodgoing:
Great post. Trading is simple. I am arguing for fun with some geeks in another thread who are in love with backtesting and programming systems. Trading is the simplest thing in life. It is so simple that any attempt to make it complicated will result in failure.
Ain't that the truth...
Boredom is the hidden cancer of trading and that is why a numbers of traders have turned profitable days into losers... (me included at times)...and many a good trader has done it; exception being Trader Zones .
Trading is not rocket science...with a modicum of commonsense, a simple system and the ability to TURN OFF the platform, results will improve significantly.
I have a lot going on at present..so I do not spend as much time at the screen and that has been a major benefit to my trading results improving, statistically.
Oh...did I find less "stress".....?
NiN
Sure, If you really know what are you doing! You can easily get $300 - $500 per day, but does mean that you have to win every day.... And that could be a big mistake!!! You are not a perfect human or even an predictive robot, one day you will lose $300 - $500, or more than that.
While you are trading actively you must to manage your risk, sometimes this task becomes stressfull.
While you are trading actively you must to manage your risk, sometimes this task becomes stressfull.
Does anyone actually have any risk management skills on this board anymore?
What are you risking for that $400/day with that $50,000?
99% of you have never and most likely will never have the game for futures markets. If this board is a reflection of the greater percentage of people that make up the market no wonder why so many fail.
Take some time to understand why real money managers are in the game and you are not. You need to understand risk management.
What are you risking for that $400/day with that $50,000?
99% of you have never and most likely will never have the game for futures markets. If this board is a reflection of the greater percentage of people that make up the market no wonder why so many fail.
Take some time to understand why real money managers are in the game and you are not. You need to understand risk management.
Quote from jmmathieu:
Man you guys are too funny. Yes that is over 100k per year, yes you can make a lot of money, and yes most people fail miserably trying to do it. The people saying you can't just haven't figured it out yet. I have a PhD in environmental engineering, yet I still trade because it is so easy and profitable.
I don't know, maybe the majority of you guys are trading the wrong markets or just aren't cut out for it. I'll say this though: trading is more boring than hard. If you can get a grip on your emotions and have some modicum of intelligence you should be able to beat the market. Here's a hint to all the guys still struggling, especially the ones with thousands of posts here at ET: I make my money doing exactly what most people here say not to do. Don't believe anything unless you've tested it personally.
AMEN!
Quote from goodgoing:
.... Trading is the simplest thing in life. It is so simple that any attempt to make it complicated will result in failure.
maybe for you, but it took me years to unlearn what the guru's taught me. In hind sight its simple.
Quote from Rashid_G.:
I think if remove the "daily" then it is easier to do. Then it is an average and allows you to be selective.. a $1200 trade a weeks achieves the goal. A decent swing trade which is relatively easy to find a couple of times a week can also do the trick. The challenge is approaching each day refusing as many trades as possible..
The daily money pressure will be counterproductive.
Great post. I couldn't agree more with you.
Quote from 1a2b3cppp:
Sure, it's possible.
You can make $300-400 a day trading one futures contract in an account with $10 or $20k. I mean actual trading, not SCT fake trading 3x-daily-range-profit jack hershey "trading".
I don't understand how people can screw up the math so badly.
The problem is coming up with a system that works well.
It's not like you NEED $50k in order to make $400 per day.
The only way I could see it being the case that you NEED $50k in order to make that much money is if you're averaging down and you NEED $50k in drawdown in order to average out to your $400 per day.
But if you subscribe to the idea that you can make $300-400 a day trading one contract (no scaling, no averaging down), then all you really need is $5 or $10k to cover the margin and you're fine.
But nobody wants to admit that's possible. They need $200k in their account to make $400 per day because they use weird ass scaling methods that require huge margins.
Finally, it's not about PERCENTAGE. It drives me nuts when people mention this.
Assume two traders: one has a $10k account, one has a $50k account. They each trade 1 contract. They each make $300 a day for a week. They each made $1,500. They each did exactly the same performance. % is irrelevant.
Amen to the above.
Let me add another variable most traders tend to overlook:
it's not about %return on capital invested, but rather trading EFFICIENCY.
If you have an efficient trading system that doesn't incur severe drawdowns, then capital is not an issue at all. All you need is enough money to meet margin requirements.
Like you said, most traders don't believe it's possible to achieve such results because they don't have a winning strategy and, as a consequence, don't believe in themselves.
Quote from Algo_Design_Kid:
Does anyone actually have any risk management skills on this board anymore?
What are you risking for that $400/day with that $50,000?
99% of you have never and most likely will never have the game for futures markets. If this board is a reflection of the greater percentage of people that make up the market no wonder why so many fail.
Take some time to understand why real money managers are in the game and you are not. You need to understand risk management.
You are right, most people probably fail trading due to poor risk management, but risk and reward are also correlated. You probably fail to achieve high returns because you can't overcome your fear of the inevitable loss. Maybe if you understood risk management better you would make more money. Or maybe I've just been lucky making 20-30 trades a day for the past two years...who knows?