Well, I would agree. Trading can be boring, and it is not hard. Once you now how to do it, that is. Like many other things, it can be very hard to learn, but once you know how, it is easy. If it was easy to learn, most traders would be successful. But most are not. It is very easy to forget how hard it was to learn something once you have learned it.
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Average daily profit with $50K account?
- Thread starter fcg007
- Start date
Well, I would agree. Trading can be boring, and it is not hard. Once you now how to do it, that is. Like many other things, it can be very hard to learn, but once you know how, it is easy. If it was easy to learn, most traders would be successful. But most are not. It is very easy to forget how hard it was to learn something once you have learned it.
People in this thread don't know what they're talking about.
For what it's worth, I have around $50k in my futures account and I make more than $300-400 per day on average.
You can follow my journal here.
http://www.elitetrader.com/vb/showthread.php?s=&threadid=193086
For what it's worth, I have around $50k in my futures account and I make more than $300-400 per day on average.
You can follow my journal here.
http://www.elitetrader.com/vb/showthread.php?s=&threadid=193086
Quote from piezoe:
Well, I would agree. Trading can be boring, and it is not hard. Once you now how to do it, that is. Like many other things, it can be very hard to learn, but once you know how, it is easy. If it was easy to learn, most traders would be successful. But most are not. It is very easy to forget how hard it was to learn something once you have learned it.
nothing is very hard to learn,
Quote from fseitun:
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.
THANK YOU. Finally someone understands.
Made over $5,000 this week on an account with just under $50k. That's an "average daily profit" of about $1,000. Of course, not every day is like that. Today was just over $400. Some days are bigger. Some days are losers.
Here's my journal: When I can, I post live trades and charts, and I also post PnL statements.
http://www.elitetrader.com/vb/showthread.php?s=&postid=2765218#post2765218
Again, most people in this thread have no idea what they're talking about.
Here's my journal: When I can, I post live trades and charts, and I also post PnL statements.
http://www.elitetrader.com/vb/showthread.php?s=&postid=2765218#post2765218
Again, most people in this thread have no idea what they're talking about.
Quote from 1a2b3cppp:
Made over $5,000 this week on an account with just under $50k. That's an "average daily profit" of about $1,000. Of course, not every day is like that. Today was just over $400. Some days are bigger. Some days are losers.
Here's my journal: When I can, I post live trades and charts, and I also post PnL statements.
http://www.elitetrader.com/vb/showthread.php?s=&postid=2765218#post2765218
Again, most people in this thread have no idea what they're talking about.
Don't know what you are saying. The referenced thread was somehow supposed to show that Fibs were useless, based on a previous thread (http://www.elitetrader.com/vb/showthread.php?s=&threadid=192348).
So you are using a one-week-old "journal" as proof of making a longterm average daily profit of $300-400 on a $50K account (the original purpose of THIS thread)?
Are you being tongue in cheek, or delusional???
Quote from TraderZones:
Don't know what you are saying. The referenced thread was somehow supposed to show that Fibs were useless, based on a previous thread (http://www.elitetrader.com/vb/showthread.php?s=&threadid=192348).
I'm saying fibs are useless as most people use them because they don't have magic powers and price isn't drawn to them. I'm just using them for fun instead of any other aribitrary percentages, such as 20%, 52%, and 69%.
I think it's absurb how people believe fib numbers are special, like how they pay $100s of dollars per month to "fib gurus" to teach them the magic of fibs, etc., so I'm using them in my system ironically. My system uses them, but it's not based on them.
So you are using a one-week-old "journal" as proof of making a longterm average daily profit of $300-400 on a $50K account (the original purpose of THIS thread)?
I've been trading for much longer than 1 week. I've only been logging it in that thread for the last week. My average daily profit is over $400
Are you being tongue in cheek, or delusional???
A little bit of the first one, I think.
You are clueless sometimes ABC.
We already explained what you are incorrectly assuming when you say you are making 400-500/day with $50,000 starting capital. You are not incorporating risk of ruin in your models.
Please read a book or take someone's advice, one day you will look back at this thread and realize how foolish you really were. I can promise you that.
Your short-term assumptions will turn out to be incorrect given a long enough period of time. You just don't get it, then you call other people out that are obviously much smarter than you?
How many consecutive losses in a row do you think it will take risking what you are trade after trade before you lose everything? Do you know how to calculate that?
Don't think it will happen? Laughable.. it can and will happen, you just haven't hit that nth deviation yet - After you lose it all and you can feel it in the bottom of your stomach you may make a new thread asking for statistical advice on risk management. In fact I can promise you down the line with an almost 100% certainty that will happen.
GL either way
We already explained what you are incorrectly assuming when you say you are making 400-500/day with $50,000 starting capital. You are not incorporating risk of ruin in your models.
Please read a book or take someone's advice, one day you will look back at this thread and realize how foolish you really were. I can promise you that.
Your short-term assumptions will turn out to be incorrect given a long enough period of time. You just don't get it, then you call other people out that are obviously much smarter than you?
How many consecutive losses in a row do you think it will take risking what you are trade after trade before you lose everything? Do you know how to calculate that?
Don't think it will happen? Laughable.. it can and will happen, you just haven't hit that nth deviation yet - After you lose it all and you can feel it in the bottom of your stomach you may make a new thread asking for statistical advice on risk management. In fact I can promise you down the line with an almost 100% certainty that will happen.
GL either way
Quote from 1a2b3cppp:
I'm saying fibs are useless as most people use them because they don't have magic powers and price isn't drawn to them. I'm just using them for fun instead of any other aribitrary percentages, such as 20%, 52%, and 69%.
I think it's absurb how people believe fib numbers are special, like how they pay $100s of dollars per month to "fib gurus" to teach them the magic of fibs, etc., so I'm using them in my system ironically. My system uses them, but it's not based on them.
I've been trading for much longer than 1 week. I've only been logging it in that thread for the last week. My average daily profit is over $400
A little bit of the first one, I think.
I actually really like what you have done over there in your thread. And I agree with your assessment of Fib #'s. People want to ascribe magical powers to them, and it's F'ing stupid. However the fact that so many people believe them plays into your strategy such that it seems like a pretty decent approach. One of the best threads in my opinion.
Then...isn't the obvious way to trade the "fibs"...counter trend?