Yes, a 150% return. Not going to happen. As far any other advice, I would recommend you get with Don Bright (he's on this board), or Curtis Faith for guidance. Don has an academy, and Curtis has a friend he may refer you to. They're going to have helpful guidance for you, without all of the confusing opinions out there.
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Help for yet another newbie
- Thread starter stockjedi
- Start date
Yes, a 150% return. Not going to happen. As far any other advice, I would recommend you get with Don Bright (he's on this board), or Curtis Faith for guidance. Don has an academy, and Curtis has a friend he may refer you to. They're going to have helpful guidance for you, without all of the confusing opinions out there.
Quote from stockjedi:
Can you give me an idea of how much I would need?
StockJedi-
I would follow this thread for awhile.
http://www.elitetrader.com/vb/showthread.php?s=&threadid=83837&perpage=6&pagenumber=1
There is some amazing guys here, and some of the postings show their buying power that they use each day, so it should give you a rough estimate. IMHO.. these guys are the only ones that i would listen to here on ET. They hang it out usually win lose or draw. Only other thing i would add, is to truly fit the style of trading to your personality. Good luck...
Regards, Knyyt
Quote from Knyyt:
StockJedi-
I would follow this thread for awhile.
http://www.elitetrader.com/vb/showthread.php?s=&threadid=83837&perpage=6&pagenumber=1
There is some amazing guys here, and some of the postings show their buying power that they use each day, so it should give you a rough estimate. IMHO.. these guys are the only ones that i would listen to here on ET. They hang it out usually win lose or draw. Only other thing i would add, is to truly fit the style of trading to your personality. Good luck...
Regards, Knyyt
Knyyt:
Thanks very much for the link.
Regards,
Stockjedi
Quote from stockjedi:
I will not quit my day job until I can prove to myself that I can sustain $500-600 a day for 12 months straight.
No offence buddy. But, this is mearly an impossible task to accomplish. You will have losing days. Sorry, but you cannot win everytime. Although the goal is optimistic, it is hard to accomplish.
Revaluate it, let's say make 500-600 a day in four days in a trading week and not lose more than 300 in one day out of the week.
Quote from rateesquad:
No offence buddy. But, this is mearly an impossible task to accomplish. You will have losing days. Sorry, but you cannot win everytime. Although the goal is optimistic, it is hard to accomplish.
Revaluate it, let's say make 500-600 a day in four days in a trading week and not lose more than 300 in one day out of the week.
rateesquad:
Thanks for the feedback and point well taken. You are absolutely right, I would be happy with 3 solid days of gains and 1-2 days of loss/break even. I definitely understand that you're not going to make money everyday. By the way the 500-600 a day would be really on my higher end. I can make a comfortable living with $300 a day and maybe a few good days here and there
Regards
Stockjedi
Quote from dwitherell:
Yes, a 150% return. Not going to happen. As far any other advice, I would recommend you get with Don Bright (he's on this board), or Curtis Faith for guidance. Don has an academy, and Curtis has a friend he may refer you to. They're going to have helpful guidance for you, without all of the confusing opinions out there.
I agree with you that 150% return is not easy to make and especially is not sustainable. Of course I have made 120% return in the past 2 weeks (and taken the profit by the way so it's not on paper) and that was with the $3k "play money".
I'm not saying that I could have done the same with $50, 100 or 200k but I think $300 a day is definitely feasible and add to that a day here and there when you do make $800-1000 (happened to me twice in the past 2 weeks) and of course there will be losing days. I will contact Don and Curtis and get some guidance from them.
Regards,
Stockjedi