Can Day Traders make a good living.
- Thread starter Kastro_316
- Start date
Kastro_316,
One of the key factors in how much you make is how much you can risk. Example:
Seanote (who I think most here on ET would consider a highly skilled trader) traded, according to my calculations, $621,845.00 worth of stock today. His total earnings was $7,165.00-- all winners, one flat, no losers, an exceptional day for anybody. That works out to be a 1% return on the money he put at risk.
Size is the key. If you're under capitalized you'll just be treading water at best.
One of the key factors in how much you make is how much you can risk. Example:
Seanote (who I think most here on ET would consider a highly skilled trader) traded, according to my calculations, $621,845.00 worth of stock today. His total earnings was $7,165.00-- all winners, one flat, no losers, an exceptional day for anybody. That works out to be a 1% return on the money he put at risk.
Size is the key. If you're under capitalized you'll just be treading water at best.
Yes, and that was on an "exceptional day for anybody"....to AVERAGE over 1% a day? I guess my mistake has been NOT to trade part time. I figure if I traded 5 days a year, instead of 200+, maybe I could have had an average like that.
One very lucky super day...maybe an upgrade, takeover, something like that while holding. Done. Now I just have to tread water the other 4 days, and BINGO! Track record established for the year!!(Then worry about next year)
WAIT!!! Now that I think about it..... could be I averaged 100% a day when I was last in Vegas playing blackjack for a few days.....can't remember if it was positive or negative though
:Originally posted by rs7
Yes, and that was on an "exceptional day for anybody"....to AVERAGE over 1% a day? I guess my mistake has been NOT to trade part time. I figure if I traded 5 days a year, instead of 200+, maybe I could have had an average like that.
One very lucky super day...maybe an upgrade, takeover, something like that while holding. Done. Now I just have to tread water the other 4 days, and BINGO! Track record established for the year!!(Then worry about next year)
WAIT!!! Now that I think about it..... could be I averaged 100% a day when I was last in Vegas playing blackjack for a few days.....can't remember if it was positive or negative though
What's the odds of having "an upgrade, takeover, something like that" happening on the first of your five trading days after you have already taken a position?