How did you feel with your first +$1000 day in trading profits?

[Evermore2017]

Your first $1,000 day, or 500 or 100 day...might as well be the same as winning the Lottery.
You generally feel the same elation...your Eyes, and mind, Greatly expands to further horizons and new potentials,

As an employee, that would be an absolute impossibility. You are automatically, significantly capped on your potential earnings range.
It's like firing explosives on a Dam, but instead of a one-time deal...you can potentially do it...over and over again, each new day, or each new trade,

For the collective masses, a steady job is the obvious, way better option. -- But for the select few who can truly make this trading thing work...the income potential is absolutely crazy.

And my Trading Academy will show all of you how that can be accomplished.
It's 2018...Make Trading and Your Life Great Again...High-Five`

We are waiting for your academy.

 

[Buck95]

Xela, I always find your posts to be thoughtful and instructive. You've covered some important points that need to be considered.

But I remember very clearly when I had 300 consecutive trades recorded and studied without an overall loss and with the highest peak-to-trough drawdown being 4%, because that was the day I knew I could make a full-time living by trading.

I'm just curious, were these "300 consecutive trades" actual live trades? Or, were they paper trades you recorded when developing your method?

-Al

 

[volpri]

You made $100 - minus the money you would have made working a non-trading job.

Grippy

 

[Slartibartfast]

Grippy

Don't forget the taxes also and the cost of preparing them

I know a guy from when I started learning who had been at it for five years (pro retail), he was the most knowledgeable bad trader you could meet. Missed old-life-job earnings cost him 300k after tax he had calculated.

But like any sole trader business, one must deduct a figure to pay yourself or years can be wasted.

 

[beerntrading]

My first was actually disappointing because had I calculated losses off the high of the day, it would have been my worst ever.

This week for me was actually interesting in that respect. Was a bad week for me, but the worst day was actually my smallest loss (4 down days, one up). What made it bad wasn't the losses (money comes, money goes), but I was completely right (direction, magnitude, timing, volume...) on each stock I was trading and still lost money because of how I played them. I don't often get worked up over losses and don't "bring them home at night", but I actually got pretty down over Wednesday's losses because of the quality of the loss, not the quantity.

 

[beerntrading]

I had thought of that but the only people I've met who actually made it as a career were studying full time. You may be different. It just seems that guys rarely make good money until they are unencumbered by the phone ringing.

This is really true. I have been doing this (just quit, woot!), and profitably, but I think I'm probably leaving maybe $80 a day on the table because of distractions and missed signals. I have nothing to back that up, but that's my gut feeling. It definitely cuts both ways...like when I entered a stop minus one digit, and came out of a meeting to see that not only had my (intended) stop been hit, but I was still in the position and plus $300.

 

[d08]

When you're starting, goals like that are exciting. After 10 years you don't care about this stuff at all...unless you have a million dollar day, you'll notice that.

 

[wrbtrader]

A profitable trader that's retail...will notice any $1,000 profitable trading day even if it was not the goal. Even after 10 years...it will still matter even if he/she is consistently doing such. Reason, if they don't have that $1,000 profitable trading day...they will then know something has changed in their trade routine.

In contrast, million dollar profitable trading days...that's institutional trader dreams. Thus, if a retail trader is thinking about million dollar profitable trading days...that's a very good joint he/she is smoking.

 

[Slartibartfast]

A profitable trader that's retail...will notice any $1,000 profitable trading day even if it was not the goal. Even after 10 years...it will still matter even if he/she is consistently doing such. Reason, if they don't have that $1,000 profitable trading day...they will then know something has changed in their trade routine.

In contrast, million dollar profitable trading days...that's institutional trader dreams. Thus, if a retail trader is thinking about million dollar profitable trading days...that's a very good joint he/she is smoking.

For sure you don't want to end a day with a negative amount anyway. A grand is yawn and scratch your ass money for many futures traders I know, the "basic minimum" it would feel unlucky to not get.

Retail futures traders can do the big numbers on rare days if they have the capital.

 

[d08]

A profitable trader that's retail...will notice any $1,000 profitable trading day even if it was not the goal. Even after 10 years...it will still matter even if he/she is consistently doing such. Reason, if they don't have that $1,000 profitable trading day...they will then know something has changed in their trade routine.

In contrast, million dollar profitable trading days...that's institutional trader dreams. Thus, if a retail trader is thinking about million dollar profitable trading days...that's a very good joint he/she is smoking.

Not really. Retail traders have had that in 2008, some of whom are/were on ET. Probably also in other high volatility days.
$1k is not that much considering not every day is profitable. It doesn't tell me anything, months and quarters are what matter.