Intraday or long term

Evermore2017 said:
It is posible to get extraordinaries returns from daytrading, but is not easily scalable, with biggers accounts we need to change to other strategies and finally moving to long term.
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Don't really, need to be a millionaire, so not doing something that makes more money than an average job with less time and hassle, which will also not make me a millionaire, is kinda illogical.

My Goal is to get account upto 20K-30K Max, then make $5K per month part time trading few hours here and there, I can live on $2K, I'm up 2K last month from a 2K account so not a huge issue ( if YM keeps being CRAZY )

Why does anyone really need more, which they aren't going to spend ? other than a status symbol!
 
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Turveyd said:
Don't really, need to be a millionaire, so not doing something that makes more money than an average job with less time and hassle, which will also not make me a millionaire, is kinda illogical.

My Goal is to get account upto 20K-30K Max, then make $5K per month part time trading few hours here and there, I can live on $2K, I'm up 2K last month from a 2K account so not a huge issue ( if YM keeps being CRAZY )

Why does anyone really need more, which they aren't going to spend ? other than a status symbol!
More...

I need more, so my goal is to get my account up to 100K where I think my strategy will have some scalability problems, and maybe that's is enough for me...
 
Turveyd said:
Why does anyone really need more, which they aren't going to spend ? other than a status symbol!
More...

Thats why we got visionaries and shapers.

One could hire a team, of
the most brilliant,

engineers, architects, artists,

to build, architectural wonders, like Statue of Lyberty, yet all around the globe,

but 3x, 6x, 10x times more challenging and more - inspiring.
 
Nobert said:
Thats why we got visionaries and shapers.

One could hire a team, of
the most brilliant,

engineers, architects, artists,

to build, architectural wonders, like Statue of Lyberty, yet all around the globe,

but 3x, 6x, 10x times more challenging and more - inspiring.
More...

It's a good job there are workaholic nutters, which will never have enough money like Musk or most of the things we have today by sheer lazyness wouldn't happen.
 
ironchef said:
You are way off, add another zero or two.
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I disagree, trading at $10 per point with a 4K account is scarey enough, scale that upto $1000 per pt allowing for less risk and that's serious brown trousers time, don't think I can trade above $100 per pt anyway, maybe better futures account, then instant fill or slow partial fill.

See loads of issues scaling up.
 
Evermore2017 said:
It is posible to get extraordinaries returns from daytrading, but is not easily scalable, with biggers accounts we need to change to other strategies and finally moving to long term.
More...
i agree to this..but may be exceptions to the rule....
 
Evermore2017 said:
I need more, so my goal is to get my account up to 100K where I think my strategy will have some scalability problems, and maybe that's is enough for me...
More...


The great thing about day trading is that you trade using leverage ie don't need sooo much $$$.
also profit (or loss) is highly scalable.
You use same technique, same amount of time, same computer, same charts.
you increase quantity by 2X, income increase by 2X.
you increase quantity by 10X, income increase by 10X.

There is no other profession that is that highly scalable.
 
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