Day trader monthly performance and returns

DaveV said:
I am not sure what you mean by Wrong, since I didn't make a statement. I only asked how many Day Traders would still be trading after accumulating $5 million? I imagine that any traders that enjoy trading itself, or are very competitive would continue trading. Witness guys like Bezos, Bill Gates, Warren Buffett who have accumulated tens of billions but continue working. But $5 million is more than 92% of the USA would earn in their entire lifetime and a lot of traders would be more than happy to retire with that amount.
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Not to contradict anything that you are saying, but you need to account for boredom in your equation, for anyone retiring at a young age.
I know I am suffering from this.
 
DaveV said:
I am not sure what you mean by Wrong, since I didn't make a statement. I only asked how many Day Traders would still be trading after accumulating $5 million? I imagine that any traders that enjoy trading itself, or are very competitive would continue trading. Witness guys like Bezos, Bill Gates, Warren Buffett who have accumulated tens of billions but continue working. But $5 million is more than 92% of the USA would earn in their entire lifetime and a lot of traders would be more than happy to retire with that amount.
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I agree, you did not make a statement. Wrong was not for a statement but for your assumption that most of them would stop.

True that more than 92% of the USA would never earn that in their entire lifetime. But as their financial situation completely changes, their life will change too. He will want to have more things that he would have in his life before the 5 million profit, so he will want more money to fulfill his wishes. Many would even divorce, if they were married, because the big earnings give more choices that he did not have before and that are now viable.
Watch how many lottery winners divorce and/or start to live another lifestyle $$$$.
 
DaveV said:
Do you think you can grow $10,000 to $5 million in 3 years? Well that is what a compounded 18% per month return yields. If day traders could really get these kinds of returns, how many do you think would still be trading after 3 years.
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I did this. Unfortunately, my last big bet was on pets.com coming back.

Diamond hands.
 
What about the hybrid approach? Most sane traders/investors can and do both. Why? because that is what makes sense. It is always based on age, tolerance of risk, and income from other sources. I am 65, I approach this market as a trader/investor. I am almost all in cash now but very slowly scale into the re-opening market while daytrade to make a bit of money every day. I do not wish to make 55% a month or some ludicrous amount, because sustaining that is way too risky. If you young and want to day trade, I suggest you are better off saving/investing for the next 30-years because of the ease and certainty of that. Then maybe trade a little money aside from your IRA, 401K.
 
TimtheEnchanter said:
What about the hybrid approach? Most sane traders/investors can and do both. Why? because that is what makes sense. It is always based on age, tolerance of risk, and income from other sources. I am 65, I approach this market as a trader/investor. I am almost all in cash now but very slowly scale into the re-opening market while daytrade to make a bit of money every day. I do not wish to make 55% a month or some ludicrous amount, because sustaining that is way too risky. If you young and want to day trade, I suggest you are better off saving/investing for the next 30-years because of the ease and certainty of that. Then maybe trade a little money aside from your IRA, 401K.
More...
thank you for sharing your experience.
 
I am also in day trading , altough I don't want to make millions of dollars or thousands of dollars a day.

I started with 5k and my goal is making 100-200 dollars a day consistenly.
 
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