It's possible but not for people that ask whether it is possible in forums.
How Realistic? $50k account, $500 / day
- Thread starter AFChao
- Start date
Quote from vinc:
To make 500$ a day on 50.000$ account one needs to TIME the market as there seems to be
no other way.. Well, it's very realistic to make this kind of money but NOT FOR YOU unless your name is Mr Market
500 $ a day , any money a day means you can time the market with 100 % accuracy on daily basis - NOBODY ever did that in ' Journals' section as far as I know.. So if you are the lucky one then Mr Market doesn't stand a chance although he seems the luckiest one
that's probably based on an assumption that you are trade only one security at the time.. there 7000+ stocks out there. and they ain't moving in same direction all the time simultaneously
Amazing how many replies this gets.
In case you haven't figured it yet OP, these kind of numbers will make you a millionaire soon. it would be naive to think this would be easy. If you decide to make this your career, you will be forced to do the best in your life. You will also have to find good help, such as a prop firm or successful mentor.
In case you haven't figured it yet OP, these kind of numbers will make you a millionaire soon. it would be naive to think this would be easy. If you decide to make this your career, you will be forced to do the best in your life. You will also have to find good help, such as a prop firm or successful mentor.
Do not try and make a specific dollar amount a day. You can only take what the market gives you.
These percentages have not only applied to myself but 100's of traders that I have worked with. You make 50-75% of your annual profits from only 3 months a year. You make 20% from a single week or even a single day.
Looking to make a specific amount each day sets you up for failure in two ways. It makes you inpatient to trade when you havent hit that number. Two, once you have hit that number you fail to let your profits run.
Can a 50k account be turned into a 250k account in a year. Yes for an experienced trader. But it is not reasonable to extrapolate that return as your capital base grows.
These percentages have not only applied to myself but 100's of traders that I have worked with. You make 50-75% of your annual profits from only 3 months a year. You make 20% from a single week or even a single day.
Looking to make a specific amount each day sets you up for failure in two ways. It makes you inpatient to trade when you havent hit that number. Two, once you have hit that number you fail to let your profits run.
Can a 50k account be turned into a 250k account in a year. Yes for an experienced trader. But it is not reasonable to extrapolate that return as your capital base grows.