Expectations..

xandman said:
That's it in a nutshell. Your going to see days to weeks where you think you are ready quit your day job. Think twice. Think hard.

I know I can't do 1k a day with 500k for the rest of my life.
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Thanks!!. My challenge is 50k
Fonz said:
If you trade 10 months per year, with a fixed money management method, and you earn 1k per day, you would make 200k per year on 50k..
Also, the more leverage you will use and the more difficult and stressful your trading will become.

Perhaps lowering your expectation as much as possible at first, with a very gradual increase of position size, could be easier.
You could also find that you will reach a plateau, psychologic or strategic, limiting your own possibilities to reach 1k per day, when increasing position size.

And to answer your questions, I will tell you how it would be possible for me after few years of trading financial and index futures:

Fortunately for me, I don't have to make 1k out of 50k, every day. Some days I will make 3k and some other days... Not so well. My 1st goal is to be positive every week.


Consistency is complex. Self imposed 1k per day would bring to much stress. I do have goals, more like maximum loss per day and my own daily max profit I will stop trading (before I feel the best trader on the planet and lose everything back...)


Sure, but for how long? Being able to grow very slowly 50 to 100k would bring a lot of self confidence and make you aware of your capabilities.


I tried to learn to play guitar, not so good.
On the positive note (...), it didn't took me 10 years to profit from the markets, as soon as I understood few principles (that works for me at least).

So, is it possible? Yes I think so but for so very few people. And don't take that the wrong way, but I don't believe this is a reasonable goal, especially if you need your 50k and if you don't have a lot of experience.

Happy trades!
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Thank you so much. Great perspective. Really great.
 
Leob said:
Day trade the e-mini500 account size 50k.
After how many years of experience 1k per day is achievable?
Is it a complex task? Achievable task?
More complex then learn the guitar or new lunghuche?
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1k per day on a 50k account? That's 2%/day; assuming 250 trading days/year, that's 500% annualized... without compounding earnings.

To give you some perspective, Buzzy Schwartz, one of the best day-traders of all time, posted a 443.7% return in futures in a 1984 trading contest ftw. Imnsho, this is absolutely spectacular:

Buzzy Schwartz said:
I entered the next contest and beat 262 entrants by posting a 443.7% return in the futures. Frankie Joe didn't enter that contest and died shortly thereafter of a heart attack. [1]
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And here's the leaderboard from the World Trading Championship, 2021-22 [2]

trading_champs.PNG



1. Amazon.com: Pit Bull: Lessons from Wall Street's Champion Day Trader: 9780887309564: Schwartz, Martin: Books

2. https://www.worldcupchampionships.com/world-cup-trading-championship-standings
 
Leob said:
Day trade the e-mini500 account size 50k.
After how many years of experience 1k per day is achievable?
Is it a complex task? Achievable task?
More complex then learn the guitar or new lunghuche?
More...
Next to impossible on a 50k account.
 
kmiklas said:
1k per day on a 50k account? That's 2%/day; assuming 250 trading days/year, that's 500% annualized... without compounding earnings.

To give you some perspective, Buzzy Schwartz, one of the best day-traders of all time, posted a 443.7% return in futures in a 1984 trading contest ftw. Imnsho, this is absolutely spectacular:



And here's the leaderboard from the World Trading Championship, 2021-22 [2]

View attachment 268710


1. Amazon.com: Pit Bull: Lessons from Wall Street's Champion Day Trader: 9780887309564: Schwartz, Martin: Books

2. https://www.worldcupchampionships.com/world-cup-trading-championship-standings
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Thank you.
So it's a score in top of the top if I understand you..
 
What was the plan when one wishes to learn the guitar or a new language?

First, is success at guitar playing for a hobby for personal enjoyment, or to be a professional and a recording artist?
Does one hire a teacher or mentor to learn of be self taught?

How much does the "learning curve" cost in time and money?
How capable are you to absorb the information that may be required? Good hard working student or just a "dilettante" curious of what maybe possible and "how fast and easy" it is to achieve results.

From my years of experience: Pay No one to be your "Guru" for the "course or training". If they are selling it -- it is worthless.

Secret is to learn by trading small and often, and profiting while learning. Is it worth the effort? Absolutely!

So welcome to the adventure and the greatest business in the world!
 
Leob said:
Thank you.
So it's a score in top of the top if I understand you..
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To make a few sport comparisons:

- In U.S. Football, you'd be a better Quarterback than Tom Brady or Terry Bradshaw
... better running back than Walter Payton, Jim Brown, Emmet Smith, or Adrian Peterson
- In Soccer/Euro Football, you'd be better than Messi, Maradona, or Pele
- In Basketball, you'd be better than Shaq, Michael Jordan, or Lebron James
 
MACD said:
First, is success at guitar playing for a hobby for personal enjoyment, or to be a professional and a recording artist?
Does one hire a teacher or mentor to learn of be self taught?
More...
In a level that he can perform professionaly( no metter if he have good manager or not..)
 
kmiklas said:
To make a few sport comparisons:

- In U.S. Football, you'd be a better Quarterback than Tom Brady or Terry Bradshaw; better running back than Walter Payton, Jim Brown, Emmet Smith, or
- In Soccer/Euro Football, you'd be better than Messi, Maradona, or Pele
- In Basketball, you'd be better than Shaq, Michael Jordan, or Lebron James
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WOW!!!
 
The goal every trader should strive for is to be a consistent winner.

The market determines how much of a winner that will be, not the trader.
 
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