How much trading profit is enough to live on?

[Turveyd]

This comagnum guy is whacky, he came after me on PM.

How dare you disagree with him lol

Most people are whacky these days, explains Trumpy I guess.

I got to get back on mission, 2 months ( end if tax year ) before I want to close company and 4months before I need $2000 per month.


If the none believers and leave the people that are doing it alone to do it, that'd be great

 

[Turveyd]

The question should be not how much trading profit to live on but to retire on. I don't know how many traders have an IRA account. Probably very few. I don't know where I would be had I not opened up an IRA account in 93 and then compounded those contributions over time. Of course now I have to start drawing out and paying taxes. Biggest financial mistake i ever made was not converting to a ROTH when they became available in the late 90s.

Nobody can afford to retire these days, trade until you drop imho its not like its hard to watch a screen for a few hours from time to time and tap it occasionally.

 

[algofy]

Algofy - your the one making the wild claims. I did IM you suggesting you debate the topic as opposed to attacking the person which you had done to me, which is what 5th graders do. So now you back up your wild claims by calling me wacky. You take B.S. to a whole new level.

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Let's just let it go comag

 

[Turveyd]

Algofy - your the one making the wild claims. I did IM you suggesting you debate the topic as opposed to attacking the person which you had done to me, which is what 5th graders do. So now you back up your wild claims by calling me wacky. You take B.S. to a whole new level.

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Nope your making up stuff to discredit, where did 7 digit come from, he's stated he's a small account trader so likely sub 20k like most.

Because you can't do it, doesnt mean that no 1 else can, accept and move on.

 

[comagnum]

Great point - the best thing I have going for me is a Roth which I rolled a lump sum pension into. Never to late, you can always roll your 401k, or a portion of it into a Roth when you retire.

 

[Turveyd]

Algofy - your the one making the wild claims. I did IM you suggesting you debate the topic as opposed to attacking the person which you had done to me, which is what 5th graders do. So now you back up your wild claims by calling me wacky. You take B.S. to a whole new level.

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P.s. Sometimes your the stupid person learn to accept that.

 

[comagnum]

Algofy & Turveyd - I probably believe more than most that a small account can be turned into a large one - I have done it twice myself although I did not use any leverage so as to maximize my chances of going the distance. My point was that the newbie traders planning on making huge returns are in for a rude awakening if they think they will be making 200+% is world famous performance - newbie traders have to pay their dues or be awfully lucky when suffering from loses and having a long learning curve is the norm not the exception.

As far as my own trading I have been way up and way down from 95 -2003. Made every dumb mistake possible x10. Now on an even keel for 13 years now thanks to being a fanatic of risk mgmt. I wish everyone well - including newbies that are often lead on to believe trading derivatives is a walk in the park.

 

[algofy]

Algofy & Turveyd - I probably believe more than most that a small account can be turned into a large one - I have done it twice myself although I did not use any leverage. My point was that the newbie traders planning on making huge returns are in for a rude awakening if they think they will be making 200+% a year since suffering from loses and having a long learning curve is the norm not the exception.

As far as my own trading I have been way up and way down from 95 -2003. Made every dumb mistake possible x10. Now on an even keel for 13 years now thanks to being a fanatic of risk mgmt. I wish everyone well - including newbies that are often lead on to believe trading derivatives is a walk in the park.

To a certain extent I think we are all strangely on the same page. Let's just end this peacefully and move along.

 

[comagnum]

Were cool Algofy - stepping down from this debate. Life is to long to have anything but fun on a forum we spend our precious free time on.

 

[algofy]

Were cool Algofy - stepping down from this debate. Life is to long to have anything but fun on a forum we spend our precious free time on.

Agree...cheers