I started yesterday and I am still working on it.
How long did it take for you to be profitable in daytrading?
- Thread starter profitplay
- Start date
pretty quick, i'm due to get whacked i think.
Damn 55% of daytraders here are profitable after 5 years. Et is full of geniuses. Sdtrader is making 15000 a month profit from 10,000. Im too stupid to even know what percent that is anually. What ever that percent is it puts him in the category of greatest trader of all time. If he didnt pull out the money each month, he could probably be a billionare soon. All his friends make more than him which is scary.
I'm of the opinion that one on is not "truly" profitable as a trader till one retires from trading.
I've seen way to many people make millions only to lose it all back, wether that take 1 month or 10 years to get to that net result.
The exceptions would be people that turn thier profits into other assets and KEEP the cash in those assets.
I've seen way to many people make millions only to lose it all back, wether that take 1 month or 10 years to get to that net result.
The exceptions would be people that turn thier profits into other assets and KEEP the cash in those assets.
The standard criteria for profitability (at the firm I'm at, at least) is to be able to net a minimum of 5K a month for 6 straight months. Usually there are enough small market cycles to flush out the guys who got lucky and the ones who can consistently put up these numbers are (usually) on their way to doing well.
So when people say they were profitable after 6 months, does that mean that they made money on their 6th month(but your account is still down net) or that your account was up from where you started? Meaning you started with 5k, droped to 2k and by the 6th month you were back up and over 5k.