Is it possible to make $50 to $70 per day with a 4K account in YM ??

Quote from asap:

when setting objectives, it all comes down to realism. if one sets a $60/$4000=1.5% profit target per day, then it is doom to blow out. Professionals make around 50% a year with max DD close to 15% and no risk of ruin. Obviously, those pro's could return 100 or 200% instead, but only at expense of having unbearable risks of ruin and unacceptable DDs.

so, if you really want to seriously manage an account try to establish risk reward parameters that allow you achieve a profitable track record in the long run, not in a week, month or even year.

I understand that since $4K is just peanuts, the trader is compelled to take additional risks so she can grow the account value ten fold, before applying sound risk management principles. I guess that's OK, but keep in mind that, making 1.5% each and every day for a extended period of time is as difficult finding a needle in a haystack.
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I think they can make 1% on a 4K account. But not every day. Maybe only 2 days a week. And yes they are taking huge risks. It's more like Gambling instead of trading.
 
I think you can have $50 / day as your objective (rather than a requirement or expecatation) but realize that some days the market isn't going to give you low risk opportunities. Other days, you may make much more than $50. Also, you should define what the maximum amount is that you're willing to lose in a day, week or month and then what the consequences of doing so are.
 
Quote from SarahG:

I think they can make 1% on a 4K account. But not every day. Maybe only 2 days a week. And yes they are taking huge risks. It's more like Gambling instead of trading.
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You neglected to mention on the days they don't making 1%, they lose 2% (or more)... Its not a question of make 1% per day once in a while, you need to make 1% per day AVERAGE, one bad losing day can wipe out many days of winners
 
Yes this is a very realistic expectation and more newbie's need to have this attitude.

I would ADD one more condition before I would consider this possible.

NEVER EVER lose more then $60 on any given day.

If your methods can incorporate this successfully your goals are achievable.

Good luck
 
Quote from deviltrader:

If you're aiming for $60 per day, there's a 100% chance you will clean out your account within several months.

$60/day is 4200% pear year compounded. Suuure, that's realistic.

Better to spend the $4k on strippers, at least you'll get some fun out of it
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Actually if you consider the YM's true value which is ~ 63k, your return would be around 24% annual.
 
Quote from Kevin Schmit:

Ok JimmyJ, prove it. I'll fund the account at 4k. You trade
it for one year, 250 days, no compoundng. You and I each
escrow $100k. If you have averaged $60 or more a day
for the year, you get the $200k, otherwise I do. You can
also keep whatever is left in the trading account, whether
you win or lose.

Time to show us what you can do! Get off of your Dad's
paper trading account at IB and swing real money! Think
about it, this is your big chance!

.
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Does the bet still apply if one takes 4k to 19k in less than 30 days ?
 
To the OP, yes it is possible to avg $60 but only if you focus on making good trades and not on a monetary amount. It will not happen everyday. Some days will be more, some wll be less, some will be losses. From your original post, it seems you are wanting to do this because of boredom which can lead to forcing trades because you are anxious to always be in the market. While trading on the sim, what size stop are you using ? What is the max intraday drawdown you are willing to take before quitting for the day?
 
Yes, it's possible but also you have to consider possibility of losing. In trading everything is possible but being so undercapitalized is a big disadvantage. I would suggest at least six months profitable sim trading and starting with at least $ 20k trading only one contract.
 
Quote from notouch:

I hope you didn't miss the part about it being a $100,000 bet.
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I hope you realize both parties would have to show that they have $100,000 to bet.
 
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