Is 50,000$ Enough to set up a trading account to earn a full time living?

[deaddog]

OP is based out of Egypt according to his profile. Maybe he can live on $15k per year. I have no clue what his expenses are so hard to say.

Ya it would be nice if we knew how much a full time living was.

How about you as a full time trader. Someone who is employed as a trader do you think it's possible. Minimum wage is in the 30K range and i would think you could make ends meet with 70K.

What kind of returns do you think are realistic. What has been your experience?

 

[fan27]

Ya it would be nice if we knew how much a full time living was.

How about you as a full time trader. Someone who is employed as a trader do you think it's possible. Minimum wage is in the 30K range and i would think you could make ends meet with 70K.

What kind of returns do you think are realistic. What has been your experience?

My previous comment was made in jest. I work in corporate IT and "trade" my time for money...get it . I trade too but trading profits amount to less than half my corporate salary. That will change as I compound my account.

 

[deaddog]

My previous comment was made in jest. I work in corporate IT and "trade" my time for money...get it .

I'm pretty slow. Now I get it.

 

[Handle123]

We all know this is ET, period.

For the people who read ET, we are not ordinary people who want to earn 10% each year. That is investment. We want 20%, 50%, 100% or more. Of course a lot people take over-sized risk and can't control the risk. That is blow-up.

With hindsight, MRNA has YTD return of 102%. Some others may have similar returns. I do not trade MRNA, but just a hint of what could be done or could have been done. If you day-trade, or use margins, then you could have had more than 100% return. There are other stocks that have YDT return more than 100%. You'll have to find those. Just do not say this is not possible if you do not know how and where to find. Or you blow-up for taking 10x leverage.

I do not know what the performance of the top 5% or top 1% of traders. But if you can't be the top trader, then the 100% or 200% may not be realistic.

I'd advise people read, read and learn. Before make huge statement that would cause problems.

"RogueTrader92" lives in Egypt, so "The average per person income in Egypt (in current US dollars) is $5,680 per year", I was under the impression he was living in USA, so he could make 20% being in Egypt and do ok.

"They" very well might have a million in the bank, we do not have a clue of how much is needed to live on. We not told many existing numbers, family size, other revenue streams etc. Nor percentages of past ten years, where not enough information. But if no leverage used makes it so much more difficult.

 

[Evermore2017]

Yes if you are in top 0.1% of traders.
You need to use leverage on $50K
Also go watch some gambling shows for inspiration.
Good poker players can make a ton with 50K starting capital

Online profesional poker player playing NL200-NL500 can make more than $10K/month with that capital, and even more.

 

[RogueTrader92]

He wants no leverage. Why is everyone not able to read his parameters? A no-leverage way to make it.

Since he speaks about no leverage, he can trade stocks, bonds and cryptos. Can he make it with no leverage.

yes exactly, my point.

i hope people who responded to this thread are able to read this reply.

I am a trader based out of Egypt , i am currently employed at a brokerage firm and only trade Egyptian stocks.

I have been trading stocks and learning technical analysis for 5 years and i have of course tried a bit of investing ( i wouldnt say trading because it was buy & hold ) crypto and US equities. I plan in a year or two after i gather more experience and money to quit and set up an account to trade full time global markets, commodities, crypto, etc...

My question remains, if i do not use "much leverage" 0.5x my portfolio max if any ( expected to be around 50K$ ) will i make it and grow my portfolio or is that an impossible shot !

Keep in mind i do have exceptional returns but on Egyptian Stocks.

 

[777]

I HAVE EXPERIENCE & KEEP IN MY MIND I DONT LIKE LEVERAGE

First you would need a meaningful edge.

Now pretend you have that edge.. without extreme leverage: No

Big First Question:

What type of trading do you think you have a meaningful edge at, and why?

 

[trader221]

95% of traders are losers.
maybe 0.1% of those 5% winners who frequent these forums.
Which brings me to the conclusion that 99.99999% who are currently giving you advice are loosers.

Yes you can

 

[RedSun]

95% of traders are losers.
maybe 0.1% of those 5% winners who frequent these forums.
Which brings me to the conclusion that 99.99999% who are currently giving you advice are loosers.

Yes you can

I pretty much agree what you said, though I do not get what % those top traders should be.

I believe more Reddit traders are losers than ET traders probably. We do not have many members here anyhow.

 

[RedSun]

For the people who firmly believe this is impossible, here is a screenshot of my Merrill account YTD performance. No futures, no shorting. Only intra-day 3x or 2x leverage sometimes. You bet it is possible. With $73,334 YTD earning, it is very handsome to make a living in Egypt desert.

But just do not blow it up like sand dust of the desert.