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

Quote from atticus:

I haven't dealt meth in months. It's a whole new ballgame.
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courage, patience, flexability

Those are the main ingredients for success

I don't know about dealing

But if you're making it you also need some distilled water

(I found that out when they stopped me when I had quite an impressive aquarium)
 
Quote from oldtime:

courage, patience, flexability

Those are the main ingredients for success

I don't know about dealing

But if you're making it you also need some distilled water

(I found that out when they stopped me when I had quite an impressive aquarium)
More...

Nice traits, I think a successfull small stock trader = passion + focus + hard work + unique stock trading plan + independent thinking/research + Zen-like simplicity + open-minded flexiblity + patiance/timing + discipline + risk management + a little luck + ....
 
AFChao said:
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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...1% a day is possible. -- if you trade the right instrument and know what you are doing :sneaky:o_O
I quickly skimmed this thread...I can't believe how many negatives and naysayers there are -- I assume all of them are failed/jaded traders.
 
mastertrader456 said:
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.
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%%
To put it another way; much easier to make $2,500 a week than $ 250k per year.Sorry my comments do not apply to his day trading for making $500 per day.But since his headline says $50k account/ $500 day[singular, one day] great question.Wisdom is profitable to direct
 
FreakofNature said:
One thing is certain, There are a lot of dreamers in this forum.
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It's Romantic to be constantly Deceived then Sick.
You end up beating your own self to death.
It's like ... You're your own assassin.
That's pretty comforting =D
 
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