How much do you make on average by day trading?

[ktm]

Don't have a "daily goal", but in my best years have averaged about $15,000 per-trading-day (for the 252 trading days of the year), and I'm strictly a "price TA" player.

(I know this is going to infuriate some TA haters... )

Nice work.

TA has never worked for me, but I always love reading about people that make money in ways I never could. There are so many ways to do this.

 

[speedo]

Ah ... you're looking at technical analysis as excluding price structure, perhaps?

Not a criticism at all: it just goes to show how people can mean different things, in forums. I don't use indicators at all (I know some people mean - or assume - "indicator trading" when they say "TA").

There's plenty of other technical analysis that doesn't depend on indicators at all.

Yes, I'm not sure how one excludes PA form TA. I use a momentum study to confirm or negate a signal but know some who trade strictly PA. I am a bit dubious about those (Ken "Woodie" Wood for example) who claim to trade exclusively from an indicator. I suppose it's possible but seems sort of like driving a car by relying exclusively on mirrors.

 

[speedo]

...PA FROM Ta

 

[Michael J. Fletcher]

Having a daily goal is quite stupid, 'cause there are some days when you simply can't find a decent stocks. Chasing your goal can leave you without a shirt.

 

[Xela]

I suppose it's possible but seems sort of like driving a car by relying exclusively on mirrors.

I agree ... I don't doubt that it's possible, but I couldn't ever do it, myself. (It was only when I abandoned indicators altogether that I could manage to become steadily profitable, but still entirely through TA).

Talking of driving a car relying exclusively on the mirrors, it strikes me that if people were allowed to drive on the public highway with the level of skill, understanding and experience that some have with trading complex, international financial instruments, there'd be so many wrecked cars littering the streets that nobody else would really be able to drive at all.

 

[Handle123]

Ah ... you're looking at technical analysis as excluding price structure, perhaps?

Not a criticism at all: it just goes to show how people can mean different things, in forums. I don't use indicators at all (I know some people mean - or assume - "indicator trading" when they say "TA").

There's plenty of other technical analysis that doesn't depend on indicators at all.

I think most who are pure chartists believe anything other than volume is considered to be TA, but I feel it is all TA. I grew up a for most part chartist but used moving averages and calculator way before home computers. So I had a good ten years of hand charting before PCs and started using indicators and found really good ways to use them once you learn what the indicators should be doing when price is not doing causing a divergence in concept. But overall, indicators is fast way for me to see several different markets looking for trades OR trading in same directions.

I totally agree with you, much TA has nothing to do with indicators, and much of it never comes up in books, one must love studying charts to eventually understand nature of price movements and times of the day as well.

 

[Handle123]

Having a daily goal is quite stupid, 'cause there are some days when you simply can't find a decent stocks. Chasing your goal can leave you without a shirt.

When you trade same instrument like ES futures, you learn eventually how to be consistent, you see after long while it has reoccurring patterns, no day acts odd, many small bars means have to risk more cause lack of volume, tightness means targets gets smaller and whatever you use to has to be reduced, like instead of going for breakeven plus one tick have to go for just breakeven, after awhile you just get use to it like it is your bratty neighbor.

Longer one trades, more you stick into your trading plan. Take for instance "Holidays", if it is World holiday like Christmas, New Years Day, Easter the markets really dry up volume and since world markets are traded before us, be even less volume traded on our markets while others are enjoying piggy pudding. Then USA holidays are different as Forex still going at it but less volume but many firms have holiday crews working and can expect day after markets jump to catch up to other markets.

I stare at charts often and ask "why"? Make up reasons of the whys and eventually they make up patterns that can be tested.

 

[lawrence-lugar]

How much do you make on average by day trading?"

...This thread is deviating from the question -- no one is really answering it.
But I could see why. Generally people are private about their money affairs. -- For me, I'll just say I have exceeded my wildest expectations.

(When I first started/learned about this trading world...I thought...Jesus, if I can make $100 per day...I'll be SO Happy...)

 

[schizo]

When you trade same instrument like ES futures, you learn eventually how to be consistent

Readily agree. Traders are too fixated on making profit. The key to success is consistency IMHO.

 

[Trader22]

How much do you make on average by day trading?"

...This thread is deviating from the question -- no one is really answering it.
But I could see why. Generally people are private about their money affairs. -- For me, I'll just say I have exceeded my wildest expectations.

(When I first started/learned about this trading world...I thought...Jesus, if I can make $100 per day...I'll be SO Happy...)

This thread is quite interesting. I'm interested in what people are limited to. For example if you are very good at ES day trading and are consistent you can just keep adding contracts. I am in the process of adding contracts in ES, SPY options and sometimes CL. I kind of wish some of you traders who have been trading for years would share the # of contracts for example of ES that you trade. I have met some that trade over 100. I guess I'm just wondering where traders stop adding more size to their positions (I'm not planning on stopping any time soon)