How Realistic? $50k account, $500 / day
- Thread starter AFChao
- Start date
If you make 1% a day on 50000 usd starting capital and you trade 600 day and reinvest to compound, =50000*(1,01)^600 ==> you get 19579169,85 usd in less than 3 years of trading, you do that 20 years you buy the USA.
More seriously, if you can make 62,5 usd with a consistent basis every day the first year you'll be up after 200 days to 62500 usd, which is 25% profit, you do that 5 years in a row you'll be one of the best performing traders of the world like Marty Schwartz or Steve Cohen.
In short you are under capitalized if you want to reach 500 usd daily with 50k. Don't listen to those who say with skill you can compensate under capitalization. That's not possible on the long run and only the long run matters. You'll end up playing with leverage and get cleaned in less than a year if you are skilled, much quicker if your are not.
More seriously, if you can make 62,5 usd with a consistent basis every day the first year you'll be up after 200 days to 62500 usd, which is 25% profit, you do that 5 years in a row you'll be one of the best performing traders of the world like Marty Schwartz or Steve Cohen.
In short you are under capitalized if you want to reach 500 usd daily with 50k. Don't listen to those who say with skill you can compensate under capitalization. That's not possible on the long run and only the long run matters. You'll end up playing with leverage and get cleaned in less than a year if you are skilled, much quicker if your are not.
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There are some fundamental reasons why that is.Plenty of people selling red coke in small cans, like Warren Buffet, made a killing. Butlook what happened to big coke sellers in NYC, now Mayor Bloomberg, just threw a monkey wrench on the big coke sellers.LOL, but true.
Trans fat traders took a big hit with the mayor before that;
bottom line is markets change.Actually my daytrading losses were not random @ all- they were far worse than random.LOL, but true.
But i dont want to sell my Market Makers Edge book-too many helpful old but gold multimonth candle charts
how many times must it be said that the instruments we all trade as individual traders will not scale up to even a fraction of that ass nine ridiculous ass u mption?
+$500 a day on $50,000 is f'n cake if you half know how to trade.
+$50,000 per day on 5,000,000 is impossible because the same symbols we're talking about cannot handle a fraction of that trade size
Quote from Laissez Faire:
I do agree that I should stop posting though.
That's the advice I'm trying to give you. What you are doing in here, all of your time and efforts ARE NOT bringing you nearer to success. You are drowning in a sea of literal noise, and it is affecting you mentally & emotionally when it comes to methodical trade decisions.
So avoid the noise, and focus on price action alone. That's the intended message
But you've made more than that in the past, right? How might that differ from the present time?
I suppose you still do same or better today if you managed to evolve with your markets. If not, then it isn't the market's fault.
**
After six years and two months of frequent and then infrequent and lately almost never visiting this site, it's clear that nothing has changed and nothing will ever change. Basic human nature is a constant third only to sunrise and death on this earth. Winners will eventually find ways to win, losers will always inevitably lose.
Much like the traders of old who never post in this forum any more, I've come to the stark realization today that trader message boards no longer have anything for me as a trader. I'm right where I've always strived to be, and there is plenty of room at the pinnacle top in this profession here alongside me for anyone willing to work hard enough to make that happen for themselves.
Quote from austinp:
That's the advice I'm trying to give you. What you are doing in here, all of your time and efforts ARE NOT bringing you nearer to success. You are drowning in a sea of literal noise, and it is affecting you mentally & emotionally when it comes to methodical trade decisions.
So avoid the noise, and focus on price action alone. That's the intended message
Your message was that I sold into a trend day and stared at the screens like a deer in headlights or worse not knowing what would happen, while the fact is that I called out for 1310 as the most probable target 25 minutes prior to the market open and affirmed the call 5 minutes after the open. Only at 09,75 would I even consider selling the market, a level that indeed provided a pullback. Does that sound like a confused deer in the headlights selling into a trend day?
I`m usually a very nice guy, but I don`t respond well to personal attacks, especially when they are unwarranted and false.
The only reason that I`m posting is that it is the closest I get to any companionship being an independent trader and isolated trader on my own. My posts are my thoughts and not influenced by anything else.
How about posting your calls live for one day including stops and targets, instead of choosing the days that go well and post those after the fact?
I would welcome the challenge.
Quote from austinp:
But you've made more than that in the past, right? How might that differ from the present time?
I suppose you still do same or better today if you managed to evolve with your markets. If not, then it isn't the market's fault.
**
After six years and two months of frequent and then infrequent and lately almost never visiting this site, it's clear that nothing has changed and nothing will ever change. Basic human nature is a constant third only to sunrise and death on this earth. Winners will eventually find ways to win, losers will always inevitably lose.
Much like the traders of old who never post in this forum any more, I've come to the stark realization today that trader message boards no longer have anything for me as a trader. I'm right where I've always strived to be, and there is plenty of room at the pinnacle top in this profession here alongside me for anyone willing to work hard enough to make that happen for themselves.
I actually just ran some stats lately to quantify the gains/losses I take based on definable strategy vs "trading", and it was very disgusting. I knew it was bad, but seeing it on paper was pretty compelling. It is more profitable for me to literally take 5+ hours a day away from trading. I get bored and come here to be a debbie downer sometimes... haha.
May I dare say that perhaps, just perhaps, you guys are over thinking all this?
$50,000 account, capable of using $500k or more with a prop firm can certainly have the ability to make $120k or so - or else why would they even get involved in this business?
Some days may be $1400... some minus $500 - why limit yourself on the upside, and why go crazy on the downside?
I've worked with hundreds of traders over the decades....and the "real" traders don't worry about one day or even one week, but focus on their monthly returns... a fair gauge I think.
Don't get caught up in the minutia.... either you have a trading plan that works, or you don't. You can always gear up or down based on results and market conditions.... save your brain for trading, LOL.
Don
$50,000 account, capable of using $500k or more with a prop firm can certainly have the ability to make $120k or so - or else why would they even get involved in this business?
Some days may be $1400... some minus $500 - why limit yourself on the upside, and why go crazy on the downside?
I've worked with hundreds of traders over the decades....and the "real" traders don't worry about one day or even one week, but focus on their monthly returns... a fair gauge I think.
Don't get caught up in the minutia.... either you have a trading plan that works, or you don't. You can always gear up or down based on results and market conditions.... save your brain for trading, LOL.
Don