How Realistic? $50k account, $500 / day

[Mtrader]

So let me ask the achievable guys, how many traders do you know, who made 250% annually in the last 3 years, each year? Oh, none?

The intelligence on ET reaches new heights. People start to ask a question but answer themselves. What's the use of asking the question?
I am sure the answer was very "objective". LOL.

My answer to your question is: I don't know anybody who does that.

I know traders that do more and longer then three years. But you did not ask that, so I had to answer:nobody.

 

[SimpleTrades]

So let me ask the achievable guys, how many traders do you know, who made 250% annually in the last 3 years, each year? Oh, none?

Years ago when I tried and failed at a prop firm, passing their initial training period required an average of 1%/day over a period of one month. This was with starting capital of $10K. Passing the test required that you earn $2000 in one month. Perhaps, I am wrong, but about 1%/day, seems to be the standard in the industry. I strongly suspect however, that the standard of 1% falls as the capital risked rises.

 

[Pekelo]

Passing the test required that you earn $2000 in one month. Perhaps, I am wrong, but about 1%/day, seems to be the standard in the industry.

If it was, surely we could point out guys who made 250-250% year after year.

It is like, can you run 15 mph? Sure I can run like that for a few seconds but not for 2 hours. Bolt can run 28 mph for 10 seconds only...

The problem with such a requirement is that over long time everyone will run into a profit doldrum if not a draw down, and that screws up the averages badly.

 

[SimpleTrades]

True, Pekelo, but perhaps one needs to realize that in trading, real success isn't achieved if you're only shooting for a marginal return. After all, that's simply a good year for an "investor". I suspect the smart successful traders shoot for the 250%, achieve it for a while, and then walk away, living off the proceeds as "investors", earning a typical 8%/year.

 

[speedo]

$500 on a 50k account on a leveraged futures contract with a relatively conservative 10k margin per contract and 5 contracts is a daily average of 8 ticks on the ES or 20 ticks on the NQ. It's really not a big deal for the seasoned, prepared trader. What is a big deal is the great deal of time, effort and personal development required to get there.

Like any highly specialized profession, medicine, law, accountancy, professional sports, the commitment is tremendous. Most fail because they are either unwilling or unable to pay the dues necessary. As the failure rate is very high, many somehow find satisfaction coming to sites like ET to proclaim over and over that it can't be done.

I don't like go overboard with encouragement because the journeyman trader is statistically likely to fail....but can it be done...YES.

 

[Mtrader]

If it was, surely we could point out guys who made 250-250% year after year.

Do you know the INBEV family? Google it. One of the richest families in the world. They hate to go in public, they prefer to stay low profile. Like most rich people. First of all criminals should not know them as that might cause problems. Competitors in business should not know them as they might attract other competitors and ruin their own business. In fact they have no benefit at all from exposing their wealth.
The same applies for successful traders. Give me one reason why they should show anything at all. How can they benefit from it? And what do they risk?

Those who want proof of high returns are those who cannot achieve it, the losers. I would never show any proof at all. Even not from the few cents I make. It will never give me any financial reward, only risks.

 

[qxr1011]

Was wondering if I could ask the more experienced traders how realistic is it to have $50,000 day trading account, and make $500 per day? I plan to use an alerts type software such as trade-ideas and find a pattern in new daily highs or lows. For those of you who have done something similar, is making $500 / day realistic?

realistic

but depends on who is doing it and for how long

a newbie with a big big luck - realistic but just for one year...

for a professional with a good method less realistic since he will have much bigger account (say half a mil at least ) and will shoot for much less risk with less returns of course - say in the area .2-.3% per day

 

[viruscore1]

If one day you will become a successful trader you will understand that not mine but your opinion is uneducated. But I clearly say IF...
I can give my opinion without your permission, or is this a privilege for you only?
We had a "famous" poster from Palm Beach , Marketsurfer, are you his latest new alias?

WTF you're a troll, please go away.

 

[CBancroft]

WTF you're a troll, please go away.

He is not a troll just a Pretender. They come and go on this forum. They create this trading persona pretending they are successful traders. Then they get real offended when you ask them to prove it and give you 1001 reasons why they can't. Jack Hershey among many others was a master at it. This thread and 1% a day is ridiculous and not based on reality.

 

[Pekelo]

True, Pekelo, but perhaps one needs to realize that in trading, real success isn't achieved if you're only shooting for a marginal return. After all, that's simply a good year for an "investor".

Life isn't black and white. You make it sound like it is either 250% or 8% and nothing in between. The truth is that almost nobody starts out with 10K only and make it to the millions, while achieveing 250% year after year.

But sure, 40-150% is more realistic but one needs to have a big account to make it and that is the real point of this discussion. Start out with a sizeable account and even with a smaller return you make a good living...

The most famous traders who had a a few good years are all selling books and newsletters and we don't hear any good recent performance from them...