Average daily profit with $50K account?

Actually Jack it looks like YOU messed up by selling RNOW the day before the big move started. This is from YOUR sheet and it is YOUR handwriting, isn't it? http://www.elitetrader.com/vb/showthread.php?s=&postid=2746963#post2746963


<img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=2749280>
Quote from jack hershey:

We saw T666 mess up the RNOW trade on the batting order by not knowing any of these things.
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Quote from Now is Now:

Just checked out your 2nd trade...SPONSER or no sponsor...this is BULLSHIT...your own numbers and edited comments give us the clue from your replay..

You had a positive balance of 91.40 for the morning...

You then BGT 4 @ 1101.25...no reason why, but not the point

You then mention your "target " price ..you DIDN'T know so you then skip qualifying the target price through editing...

You then exit the price at quote' at 2.5 on 3, which meant 3 @ 1102.50 , and 1 at 110325 'unquote ...total profit approx 275 ADD the "9140" earlier gain and YOU come up with 369.30 (should be 366.40)...great...only one thing you forgot to mention

YOU ARE SIM TRADING...like all you charlatans you keep slipping up on your misleading stanza...OR you conveniently forgot to tell us about ALL your trades as the numbers do not add up...period

You tell us that you have a profit of 369.40 for the morning as per your screen..fine...9140 and 27500 ( 3 x 125 1x 175) do not add up to 36940...

But as you should know, but overlooked it, SIM TRADING accounts DO NOT SHOW COMMISSIONS..oops

By legal definition ,and I am not a lawyer, charlatans are those that show some confidence trick to obtain money or through some advantages such as PRETENCE or deception...

You qualify for the reputation as a charlatan, as you do not state that YOU ARE SIMTRADING...

Everyone should listen closely to the 2nd video and note the trades and balance ...before it disappears...


NiN
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Guess what Inves200... is no longer a sponsor at ET... a fraud is a fraud is a fraud...

If anybody knows of any other forums they are residing with their crap...please comment...or hunt them down..

On topic..the 50k would have been reduced had the OP used these charlatans...

:mad:

NiN
 
You're right, the numbers don't add up.

Like the chart said, we are rounding DOWN to the nearest ES point. This was based on the average price using a 4 lot and a scale out and taking the average of both. We are understating our performance so that the return shown can account for brokerage fees. We are showing NET POINTS ES PER CONTRACT TRADED.

The brokerage statements are for a very much LIVE account.

As soon as the Feb brokerage statement is in you will see the live trades matching the video.
 
Oh, we are still a sponsorer ... click on the banner add, it works just fine! We have been upgrading and adding things, it might have been down for a few hours. Sorry for any problems there.
 
Quote from fcg007:

Is $300 - $400 a reasonable goal for an account this size?
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no, it's way too low. you should be able to churn that ten times over and make at least $1000-1500 a day. but then that's me, not you.

results may vary.
 
Quote from fcg007:

Is $300 - $400 a reasonable goal for an account this size?
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Yes. That is quite possible. But to average that over a long period of time you need to be an expert trader with much experience and excellent money management and risk control. 50K is more than enough to trade the ES futures, for example, as it is not difficult to get $500/contract intraday margin requirement.

It takes successful traders a long time to become consistently profitable, and most never achieve that. Most traders, myself included, went through long periods of losing money before becoming consistently profitable. One reason learning to trade well can take longer than it should is that successful traders are usually not interested in sharing their knowledge in sufficient detail to be really helpful to beginners. They might even pass on bad advice intentionally. There is some good information and advice posted on ET from time to time, but the useful is intermingled with crap. If you are a beginning trader, chances are you won't be able to tell the difference.
 
If you're a trader not averaging 300-400 per day on a 50k account then you need to change something. Do not listen to these guys saying anything over 10% per year is unsustainable. Why the *#$% would you trade for 10%? Stick that @#$* in a mutual fund or ETF if that's all you want.
 
Quote from jmmathieu:

If you're a trader not averaging 300-400 per day on a 50k account then you need to change something. Do not listen to these guys saying anything over 10% per year is unsustainable. Why the *#$% would you trade for 10%? Stick that @#$* in a mutual fund or ETF if that's all you want.
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Listen

At 280 trading days $400 per day is over $100,000 a year.


You should make sure to stick all your $hit in a mutual fund as well because you don't have a chance. Might as well mail a check to JP and GS and save yourself the week of blowing up your $50 G's.
 
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.
 
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