From the newbie desk: returns expectations

[VicBee]

so how did you manage to make 8 years of salary in 1? just being long equities?

70% TSLA, the rest a mix of large cap stocks.

 

[VicBee]

Make 8 years of salary in 1 is an achievement.
But to know till what extend it is an achievement you should know the salary (not asking you to post it). When making $10K a year the achievement is much smaller than when making $100K a year. In both cases the statement is correct, but the achievement is noticeable different.

6 figures, closer to 7 than 8 to be fair.

 

[tonyf]

70% TSLA, the rest a mix of large cap stocks.

Congrats on your big wins. You have correctly stated that those are lottery gains at least

 

[VicBee]

Bull markets fool newbies into thinking they've got this thing figured out.

If you'd read you'd notice that I'm the first to acknowledge riding the bull market of 2020.

 

[virtusa]

That's not fair - he is here asking for advice. Let's not shit on him.

I'm not shitting on him. I just point out that the statement can be interpreted wrong.

For as far is I know Vicbee, he probably made at least a 6 figures profit.

But the statement can even be accurate for someone who is on unemployment.

 

[VicBee]

I'm not shitting on him. I just point out that the statement can be interpreted wrong.

For as far is I know Vicbee, he probably made at least a 6 figures profit.

But the statement can even be accurate for someone who is on unemployment.

No offense taken. I was on a low 6 figure income and multiplied it by 7.3. Again, lottery ticket bull market win and fully aware that this year is much more difficult. I will be happy to get 6 figure this year!

 

[SunTrader]

If you'd read you'd notice that I'm the first to acknowledge riding the bull market of 2020.

Well reading "between the lines" suggests to me that you know what you need to do but yet you want someone else to tell you to do it.

The goal of each day should be to follow your trading plan. Having a daily goal/fixed amount should not be part of that plan. If it happens great. Volatility ebbs and flows. If a market moves 2% one day and 0.2% the next day how can you try to get the same profit amount from each of those days? PA controls, we can only follow. Last year was last year.

Percentages sustain, amounts thrill. So does Vegas.

 

[deaddog]

At the end of your trading cycle (daily, weekly, monthly...), is your success/failure based on absolute gain (x dollars) or percentage?

I rate myself by whether I followed my plan.

 

[tonyf]

Did you treat yourself at least OP? did you buy anything nice? reward is as important as compounding otherwise what's the point...

 

[newwurldmn]

No offense taken. I was on a low 6 figure income and multiplied it by 7.3. Again, lottery ticket bull market win and fully aware that this year is much more difficult. I will be happy to get 6 figure this year!

Percentage returns. Its better to not think of the money as real (like casino chips). As your account grows the $ figures will affect your emotional state especially as the numbers get bigger.

If you stick with this, there will be a year where you will give back multiple X's your salary benchmark. Expect it and plan for it and in the meanwhile continue to grow your capital.