I dont know, just asking for a friend, some of my friends could do 10000-> to 50000 in a months
Is 2200% gain in daytrading NQ for 15 months good?
- Thread starter howruhowruong
- Start date
It's absolutely terrible, yeah, no doubt about it. It should be in the upwards of 1,000,000%. Hell, let's make that double, just for the heck of it.
The good thing about your scenario is that you have to do it only once, and then go back to flipping burgers.
Because if you don't, your (friend's) PnL lines will reverse.
Doy.
I think you should aim at 1000% per month at the minimum.
Can't buy a Lambo with anything less than 1000% a month.
Firstly, without getting lost in a scaling discussion, a trader can only extract what a market(s) offers. Period.
It is literally impossible to extract $100 from an instrument that does not offer movement that would be equal to AT LEAST $100. Can't squeeze blood from a turnip.
So now, based on the monthly profit numbers you threw out, assuming 20 trading days in a month,
10k profit per month is $500/day
50k profit per month is $2500/day
NOTE: losing days, sub-par profit days, or outsized profit days are NOT considered in those numbers. IOW, those numbers mean the daily target (at a minimum) is hit 100% of the time. And 100% of the time is NOT realistic.
If your "friend" is a an all-in wild west trader cowboy, he will get bucked off.
People who win at slot machines, are those that walk away when they are up.
OTOH, if your friend has a proven profitable trading system and plan,
along with necessary funds to implement AND adhere to the trading system and plan,
$500, $2500, even more, per day ON AVERAGE is doable, and based on details of the system/plan/funds, possibly realistic.
The thing about trading is that it is not a competition.
If the price movement is there along with necessary funds, system, plan, and discipline,
you just run your race. There is no "them". Nobody (except you and the taxman) cares!
It is literally impossible to extract $100 from an instrument that does not offer movement that would be equal to AT LEAST $100. Can't squeeze blood from a turnip.
So now, based on the monthly profit numbers you threw out, assuming 20 trading days in a month,
10k profit per month is $500/day
50k profit per month is $2500/day
NOTE: losing days, sub-par profit days, or outsized profit days are NOT considered in those numbers. IOW, those numbers mean the daily target (at a minimum) is hit 100% of the time. And 100% of the time is NOT realistic.
If your "friend" is a an all-in wild west trader cowboy, he will get bucked off.
People who win at slot machines, are those that walk away when they are up.
OTOH, if your friend has a proven profitable trading system and plan,
along with necessary funds to implement AND adhere to the trading system and plan,
$500, $2500, even more, per day ON AVERAGE is doable, and based on details of the system/plan/funds, possibly realistic.
The thing about trading is that it is not a competition.
If the price movement is there along with necessary funds, system, plan, and discipline,
you just run your race. There is no "them". Nobody (except you and the taxman) cares!
I lost a lot of day trading friends over the decades because they were insulted if the Market/Instrument only offer them $500-$1500 that day(2001-02) versus the $10k-$100k days of days past. Now with Yolos, they’re hitting mind boggling gain/losses.
What does your friend think himself?
That sounds about right. Wallstreet has inflation and shrinkflation.