How much money is considered good enough for trading?

S

SizesTrader

For those day traders out there, how much money do you make is considered decent? If someone is averaging $10K a month, is that enough?
 
and while you are at it maybe you can help me answer this one also, please, is buying a toyota just good enough even if I cannot drive .... or do I need to buy a bmw to be better of ... LOL
 
You buy a BMW then ask your cousin to drive since it's likely that he will love it.

Quote from trendmomentum:

and while you are at it maybe you can help me answer this one also, please, is buying a toyota just good enough even if I cannot drive .... or do I need to buy a bmw to be better of ... LOL
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Quote from SizesTrader:

For those day traders out there, how much money do you make is considered decent? If someone is averaging $10K a month, is that enough?
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Not a very smart question to ask to be honest... because everyone will have a different answer.

First off.... to even be making money would be nice for a lot of ET members currently not making money. I'm included.

I'd say averaging $50-100 a day trading 100 shares/1 contract would be good. If you can do that consistantly, just add more shares/contracts and build up on it.

Consistency is key in this game, it took me awhile to learn that.
 
I don't know how much experience these ET members have in trading, but all I know is that alot of my friends make much more than me on a monthly basis. So for those who criticized about this post, I guess you are missing out alot in trading.
 
I see that smart people are not in the making. There's a book to confirm that. :D

http://www.amazon.com/gp/product/06...f=pd_bbs_1/002-1245050-2212804?_encoding=UTF8

Quote from JMowery1987:

Not a very smart question to ask to be honest... because everyone will have a different answer.

First off.... to even be making money would be nice for a lot of ET members currently not making money. I'm included.

I'd say averaging $50-100 a day trading 100 shares/1 contract would be good. If you can do that consistantly, just add more shares/contracts and build up on it.

Consistency is key in this game, it took me awhile to learn that.
More...
 
JMowery1987,

Stop to think rationally, we have to. Experience and some reading have changed my view on Wall Street, it doesn't follow any rules. I'm going to read this book Trading in the Zone by Mark Douglas.

Quote from JMowery1987:

First off.... to even be making money would be nice for a lot of ET members currently not making money. I'm included.
More...
 
Quote from bitrend:

JMowery1987,

Stop to think rationally, we have to. Experience and some reading have changed my view on Wall Street, it doesn't follow any rules. I'm going to read this book Trading in the Zone by Mark Douglas.
More...

Trading in the Zone... I'm normally recommending that to newbies... lol, I'm saying for him, but sugar coating replies doesn't help anyone. It requires hard work, and I have dedicated myself and am only starting to realize what I need to do and the book helped me.

Irrationally, I'd say... You have no chance, your doomed like the other 95% :-P
 
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