thanks for the entertainment spanish. good thread. you seem to bring out the best in people.
How little capital could you make a living off?? ;)
- Thread starter spanish89
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Quote from spanish89:
However its not the risk side of trading taht i dislike,
its more just that i only like trading when theres decent volatility.
(Oil Market last year from May t End of year)
Lots of fast intraday swings and i have a giant smile on my face all day as i can tear the market to shreads whenever it does that.
But the way the market is now and how slow movement is and how elongated trend are, but how slow they take to move in both directions,
i now sit at the screen 16hours per day waiting for the perfect entry, often takes 1-2 day now before the entry is there,
You do realize that a lot of people made money during that time right? That doesn't necessarily mean they're good traders. Everybody at my firm made money then even the 1 month old trainees. Actually, I don't know a single person who didn't make money day trading then at my firm and others. But I can tell you they're hurtin now. So don't be so cocky kid.
My grandma was an awesome trader too.... well, during the tech bubble run up. She should come here and tell all of you how amazingly awesome she is and how she pwned NT everyday.
You do realize that spanish is a trading jesus right? so everything you said doesn't apply to him. He took 700 pounds and turned it into 30,000 pounds. So everybody that comes in here with their "can't do" attitude needs to consider who they are talking to
so in a way, spanish answered his own question. The smallest amount of capital you need to make a living is 1k
spanish89,
If you're making 300% on your investment you don't need another job and wouldn't be bored with trading because you could take off and do what you want when you want. How long have you been making 300%? If less then one year then come back and 3 or 5 and tell us your story. Good Luck to you!
If you're making 300% on your investment you don't need another job and wouldn't be bored with trading because you could take off and do what you want when you want. How long have you been making 300%? If less then one year then come back and 3 or 5 and tell us your story. Good Luck to you!
Most people think it's an invitation to double their bets.
The 2% figure is generally a suggestion to risk no more than 2% on a trade, and I doubt most experienced traders risk that much. Risk-to-reward varies greatly from trader to trader. I've most often seen 1:1 thrown around as the minimum to shoot for.
I think many people are comparing apples and oranges. A comparison just can't be made between a longer term trader and say a scalper. The latter will have many, many more trades and should be expected to achieve a much higher return. I can't imagine any trader settling for 10%. A day trader can make than in a single trade by lucking onto a larger move, which frequently happens.
I've given a far more conservative earlier on about a day trader achieving 344% (10 trades per day, risking 0.5% per trade and making 10% of risk). Perhaps longer term trades are underestimating the volume of the shorter term traders.
Trading with 1K is like jumping off a 4 story building. Sure there are a couple of people who managed to survive the jump, does it mean it should be the modus operandi of the rest?
As for operating capital, 50K is imho bare minimum to do ES without undue stress. 100K being an OK amount and 500K optimal amount to do this right.
Good luck!
As for operating capital, 50K is imho bare minimum to do ES without undue stress. 100K being an OK amount and 500K optimal amount to do this right.
Good luck!