Can I be a good trader?

I've been trading since june - i avg about 500ish a day or atleast that's what i aim for. I also found I hit a "wall" for a while but the way i got past that was by trading faster moving more volitile equities. I work with a prop firm that has a fairly structured system to gain more BP bigger stopouts etc. Trying dropping your share lots down but start trading somethin that moves a little quicker. :)
 
$2-$4K/Month trading what size? How much capital? Leverage? Risk/trade?

You should answer these basics if you actually want a real response here.
 
Quote from MAESTRO:

Trading is an obsession, passion, the best entertainment, a challenge, the most fascinating game humans ever invented, a science, an art, the way of living and thinking, the strongest desire you ever had, an intellectual and physical fitness exercise and much more ? Look inside your soul. If you don't feel this way about trading then you should not be trading at all! However if some of that resonates with you then don't give up! Work hard, sweat, get frustrated, create, test, enjoy the triumphs and suffer losses, become a great trader and make as much money as you want!
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That's true!! I agree with you! I totally agree with you!
 
Quote from ntmf:

Hello everyone!

I've been a day trader for five months but still can only made $2000~$4000 per months and I dont think I could do any better in the future.

I really love this job but I'm not sure if I can take this to be my career. Could anyone give me some suggestion?

Thx and regards
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ntmf,

Like TudorJones said, you are having second thoughts. Your ambition is high, but it appears that your patience is wearing thin. If in my first 5 months I made 4000 per month I would be excited. This month I am at 6k net (off of 10k net a week ago :o ) using over 2k size, and have been doing this full time over a year.

Now, you think you can't make this a career maybe because 4k doesn't seem that much. But I say to you this, 5 months is a good enough time to see if this is right for you. Honestly, your pnl shows it. If you are using avg size of let's say 500, I think that's phenomenal.

So guess what? For an analogy, I think you just bought a bottom, or shorted a top, and are in the money like 20c and thinking of getting out without a good reason... Ring a bell yet?

Hold on, you are past the learning curve of trading profitably, and now comes the real growth.

:eek:
 
You mention you're trading "shares" - so I assume you're trading equities. If you want to increase your monthly P/L - trade futures instead - you'll get far more leverage for less margin.
 
Quote from ntmf:

Hello everyone!

I've been a day trader for five months but still can only made $2000~$4000 per months and I dont think I could do any better in the future.

I really love this job but I'm not sure if I can take this to be my career. Could anyone give me some suggestion?

Thx and regards
More...

If you are making $2000-4000 a month consistently then you are doing something right. Many people can't make >$0 a month.

There are many factors that go into this question that only you can deal with. Is $2-4k a month enough for you? If not, are you psychologically able to handle trading bigger size to increase profits? Do you attribute your gains to luck or skill at this point (ie do you honestly have a legitimate method and self-discipline or are you getting lucky)?

Most importantly -DO YOU WANT TO TRADE?
 
Pardon my opinion. But I think if you are averaging $1,000 a week. That's pretty good money. Not many jobs out there pay that much, unless you are in an elite position. Plus if you are this successful this early, it is a good sign. Losses and frustration go with the territory, whether you are a beginner or experienced.

Most times our hunger, ambition and expectations for money supercedes our skill, patience and understanding of our trading . When this happens we reach a frustration level.

What I think you could do is find a trading mentor or coach. Because you may be just having frustration with trying to go beyond internal battles. By having someone work with you they may be able to help you key in on what is causing you to not achieve what you hoped to be making.

Questions that you can honestly ask yourself might be. What is it that you think you should be making? Why should you make it? What trades are present or moves or mistakes occur that tell you that certain money is or was available?

If I could be in your shoes I would not give up. But find someone who could help me understand what I need to work on to move past the current limitation(s) that exists within my trading structure.
 
ET is funny sometimes. We have virtually zero information about this person's trading yet many feel compelled to offer advice on why he should trade.

lol
 
Quote from ScapGF:

ET is funny sometimes. We have virtually zero information about this person's trading yet many feel compelled to offer advice on why he should trade.

lol
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That's not true~~ I will post my reply next
 
Generally, I prefer using 100 shares to trade stocks whose price higher than $100, using 500 shares to trade stocks price is between $50 and $99, using 1000 shares to trade stocks price is $10-$49, using more shares to trade stocks under $10......

Those replies really help me a lot. I find my problem is that I'm not very confident to use more shares and to bear more risks. Or, I still don't learn enough skills to handle more shares.

After reading those replies, I realize I've done an "OK" job and I should be more patient to be a good trader! What I need is keep learning to improve my trading skill.
 
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