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

SimpleTrades said:
I would agree that winners won't feel the need to prove it to a bunch of nobodies on ET.
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It's not necessarily about...showing off, or proving anything, or bragging...but rather displaying your credentials, so to speak.
Alot of people fail in this game, that's no secret -- so shouldn't the rare successful one's be held in high esteem, to some degree.

This is trading/finance/business -- the only thing that counts is the bottom line. No point in beating around the bush on this topic, o_O:)
 
Pekelo said:
Me neither, but on a 200K account, you can take a 10K loss, on a 10K account, you can't.... And as I said with a big account you can do different strategies with different risk/returns and different instruments. A small account is very limited in every way...
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True to a point, but it should only change your position size. The equivalent 10K loss is a $500 loss. However, I would agree that a 10K account limits your strategies and what you would choose to trade.
 
lawrence-lugar said:
I asked Baron for this site feature a while ago...
That it would be cool, if there can be a mouse hover function...
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That is a completely worthless idea, beside the problem of practical implementation. Just because I have been very profitable that doesn't mean I know shit about the markets, maybe I have been just lucky and used the correct strategy for the right times...

Don't confuse short term success with experience or knowledge... If you look at Elon Musk's bank account you might get the wrong idea that he knows how to run a company... :)
 
lawrence-lugar said:
.. so shouldn't the rare successful one's be held in high esteem, to some degree.
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Perhaps, if there were TRULY a way for them to prove their success. I could turn my $8K into 8 million, and I guarantee that each and every one of you will accuse me of doctoring my records.

Ideally, we need a system where people can truly prove their track record while remaining fully anonymous. After all, is a wealthy person doing themselves any favour by advertising their wealth?
 
I can tell who knows what they're talking about. Day trading is hard but its not that hard that you'd assume most traders in an elite traders forum are losing traders. Its more likely that the ones that claim to be successful are successful because they're continually learning and improving their skills.
 
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Everyone here saying it's not realistic. If you can't make $500 a day. What's realistic? $100 day? You make that much working at mcdonalds.

Some traders can make thousands a day, but it's extremely difficult. Also some lose all their money trying. But it's obviously realistic. What's the point of trading to get a minimum wage salary? People don't risk their own money to make minimum wage, unless they're gamblers and not actual traders.

Reminder: $500 is only 1% of his account. Realistic, if you're doing it right.
 
This market spends a great deal of time in lethargic consolidations - which grinds down capital when range is constricting. Seasoned traders wait patiently for the setups of breakouts where range expands, the breakouts are where the big money is made. Being able to sit out for days, weeks, sometimes even months at a times empowers you to waltz in when most are flushed out and clean up. Would a store owner close down for the day because they hit a daily profit goal at 10:00am? If anything they would call in for more help and stay open late.

JL.PNG
 
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AFChao said:
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? I plan to use an alerts type software such as trade-ideas and find a pattern in new daily highs or lows. For those of you who have done something similar, is making $500 / day realistic?
Thanks for any info!
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If you mean 1 day, yes. If you mean every trading day, then no. Many traders have a hard time making 500/week consistently with 50k. IMHO less than 50% of traders make $500/month consistently with 50k, that's only 1%/month and 12% annually. A professional financial advisor wouldn't guarantee 1/2 of that, 6% annually.
 
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" How Realistic? $50k account, $500 / day "

Without checking previous posts, I think that can be done. And very realistic!

But the only problem is that can last not for very long time. Only for 100 days (= $50,000 / $500), if my calculation is correct.
 
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