How Realistic? $50k account, $500 / day
- Thread starter AFChao
- Start date
With samples you can make any hypothetical scenario.
What if 1 out of 2 would make it? And you would be one of them who cannot achieve it?
A sample is useless unless you can base it on real verifiable data. All the other samples depend on how big your fantasy is.
Millions of people dream of becoming successful in work, or in sports or in winning the lottery. How many do really achieve their goal? And does that mean that nobody should even try? Each person should realisticly check his chances and take the right conclusion. Making money is very realistic for some and not for others. Find out in which category you are in.
I know several people who make more money in trading then they made in salary. And their life has a better quality now. it is doable, becoming multi millionaire is another problem.
Your attitude is called self-destructive behavior and will be for 100% self fulfilling. You will never achieve anything. Because even before starting you know already what for you will be the outcome.
It is very funny - just recently, I received an email from a new "wannabe" trader, who, btw, has traded for a firm in the past - text book trading, that is!
He is sorta getting the picture now - forget about everyone else, everthing you have "learned", and start again with the full understanding of...
ABC = 123
Then, and only then, will you start to make money.
I know he is looking, and yes, you are just there - all you need to do now, is, start trading - for, it will never work until you actually start - then the real fun begins
J_S
He is sorta getting the picture now - forget about everyone else, everthing you have "learned", and start again with the full understanding of...
ABC = 123
Then, and only then, will you start to make money.
I know he is looking, and yes, you are just there - all you need to do now, is, start trading - for, it will never work until you actually start - then the real fun begins
J_S
As we don't know the background of most posters here we always assume, in the most optimistic scenario , that both parties know what they speak about. To know what you speak about you should at least have quite a lot of practice in the things that are discussed. It would be stupid to see a discussion between a person with a lot of practice and a person without any practice (except maybe from reading a book).
But by accident I found out that these things actually happen on ET.
This makes things really hilarious. I found a discussion between a daytrader who claims to have +20 years of trading experience, and a second trader about returns that are, or are not, realistic. The discussion was clearly about daytrading. But I found out now that the second trader, who told that these returns were not achievable, is trading stocks with holding periods from a few weeks to months. So the second trader compares his own experience in trading with daytrading!
It can be compared to an athlete running the marathon who is telling that is impossible to run the 60 meters within a certain time. How on earth can somebody who is running marathons discuss with athletes that run all their life short distances? It is a completely different discipline.
But on ET some traders think they have an expert opinion on everything, even if they never had any experience. Remember ET stands for elite traders! And if they would have any experience they would be still daytrading, except if the experience was negative. And at that point his opinion would be useless, as opinions from losers are always useless.
, that both parties know what they speak about. To know what you speak about you should at least have quite a lot of practice in the things that are discussed. It would be stupid to see a discussion between a person with a lot of practice and a person without any practice (except maybe from reading a book).But by accident I found out that these things actually happen on ET.
This makes things really hilarious. I found a discussion between a daytrader who claims to have +20 years of trading experience, and a second trader about returns that are, or are not, realistic. The discussion was clearly about daytrading. But I found out now that the second trader, who told that these returns were not achievable, is trading stocks with holding periods from a few weeks to months. So the second trader compares his own experience in trading with daytrading!It can be compared to an athlete running the marathon who is telling that is impossible to run the 60 meters within a certain time. How on earth can somebody who is running marathons discuss with athletes that run all their life short distances? It is a completely different discipline.
But on ET some traders think they have an expert opinion on everything, even if they never had any experience. Remember ET stands for elite traders! And if they would have any experience they would be still daytrading, except if the experience was negative. And at that point his opinion would be useless, as opinions from losers are always useless.
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Is that english? I only know this word in Latin.
The unofficial spelling is "eegit", but we spell it as "egit".
Pronounced as "e..jit"
J_S
My guess is that if you try the way you speak of, you will not suceed.
You are looking to make 1% return per day, which is achievable over set number of trades, so, it depends on how many trades you execute per day, what stocks you choose, and your win/loss ratio.
Do you have this worked out yet, or are you just "hoping" for the best to happen?
J_S
Yes, but in 10years time you'll be down to $2000 area when you finally crack it, then you'll be making $20 per day and thinking it'll take me a life time to get back to just 50K!
On good days I make 10% per day, on bad days I lose 20% in a day
So 1% is nothing, if you trading with say 10 contracts, each $10 per pt, then it's 5pts, 1 trade, 10mins, log off do something more fun.
You might have to wait 4hours to get that perfect setup / momo to jump on and ride and just extract a safe 5pts ofcourse.
Then you'll miss 100's of pts up and down, get bored/greedy/gambly make stupid trades and lose 1% wayyyy more frequently.
But hey maybe I just suck
On good days I make 10% per day, on bad days I lose 20% in a day
So 1% is nothing, if you trading with say 10 contracts, each $10 per pt, then it's 5pts, 1 trade, 10mins, log off do something more fun.
You might have to wait 4hours to get that perfect setup / momo to jump on and ride and just extract a safe 5pts ofcourse.
Then you'll miss 100's of pts up and down, get bored/greedy/gambly make stupid trades and lose 1% wayyyy more frequently.
But hey maybe I just suck
Why not?
I seem to be able to manage a very consistent return. 1%, ON AVERAGE, per day is actually very easy with forex. Compounding 1%? Forget it, don't even try.