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

Quote from AFChao:

Hi everyone,

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?....
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NOT for a beginner.
 
for crying out loud, he wasn't asking how to trade, or even if he was going to make $500, all he was asking is, is a $500 move in a day realistic with a 50k account
 
"Realistic" is a relative term though.

Quote from oldtime:

for crying out loud, he wasn't asking how to trade, or even if he was going to make $500, all he was asking is, is a $500 move in a day realistic with a 50k account
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Quote from Swan Noir:

Frankly Don, I always thought that prop was for traders who already had a winning approach but were short on capital. Your answer leads me to believe it was for the complete novice yet that surprises me. As you can tell I have no experience with prop.
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No "blue sky" no "rose colored glasses" - the simple fact is that you have a much better chance with professional firm than having to fight all the inherent drawbacks of retail.

Don
 
Quote from logic_man:

As an addition to that point, I think that IF the OP can find a strategy which works, his first goal should be to execute that strategy with 100% compliance to its rules. If the strategy really works, money will be a byproduct of that compliance.
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the first goal for any novice-stay alive. if you didn't lose-you won! why? cause you just gain a f** experience! my one and only goal at the beginning-try not to lose. or limit your losses. you flat EOD or end of the month? f** awesome!
 
Quote from lindq:

Maybe it's time to point out that the OP has never responded to all this earth-shattering advice.
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$5 will get ya $10 it's someone who has been banned repeatedly.
 
Quote from Lucrum:

$5 will get ya $10 it's someone who has been banned repeatedly.
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I was wondering the same thing. I like to help, but when whatever anyone says falls on deaf ears, well, it kind of makes it all wasted.

Don
 
Quote from Don Bright:

I was wondering the same thing. I like to help, but when whatever anyone says falls on deaf ears, well, it kind of makes it all wasted.

Don
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Hi Don,

Then maybe you can make lemonade out of this lemon and help a guy out who's looking to establish domicile in Nevada. Where are the decent places to rent around LV for a transient trader? I need a place I can leave unoccupied for 2-3 months at a time and trade out of while I'm there. This is OT, so feel free to PM if you have any recommendations or resources I should be aware of.

Thanks.
 
Quote from Don Bright:

I was wondering the same thing. I like to help, but when whatever anyone says falls on deaf ears, well, it kind of makes it all wasted.

Don
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For someone doing 1M spy buys and 1M spy sells on average per day:
1-Please post the requirements of capital, and net comms.
2-Where would customer funds be parked?.
3-Need special registrations for someone trading OPM?.
4-Any other advantages over IB, please discuss.

Cheers. No PMs please.
 
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