Is it possible to net $100K a year

[traderob]

Quote from flyingdutch:

If after 4 years of trading, you take a loss of 65k on a 100k account (including margin if I understand it well) than, you just have missed some very basic principles that separates the (few) winners from the loosers. It also shows that you haven't learned even the most basic principles about daytrading (cut losses quickly etc.etc.).

TFD

If only Marty Schwartz , Pit Bull , had you to advise him.

After a few years of succesful trading he was on the wrong side of the market and kept averaging down: "Audrey, I blew almost a million dollars in 4 hours" (p.107) He held overnight and got lucky and ended up with only an $800,000 loss for the day . Over the next month he managed to get most of it back.
In the years following that he made millions....

 

[1st_samurai]

Quote from bufferman:

I have learned that depending any kind of lagging indicator is a big mistake. Indicators can be used for confirmation, but not for actual trading signals. Breakouts still work very well if you know where to look. I have been papertrading something with amazing results. I have been testing 2 strategies. One breakout and one pullback. I don't use any indicators. I simply look at price and apply fib confluence (3 or more levels), and confirm the trade with a candlechart signal.

Papertrading with awesome results? Wow, sounds like my paper trading when I was in high school long ago. Let me tell you are in for a long ride when you finally start real trading.

 

[lilboy716]

hear hear

Quote from 1st_samurai:

Papertrading with awesome results? Wow, sounds like my paper trading when I was in high school long ago. Let me tell you are in for a long ride when you finally start real trading.

 

[nitro]

Quote from BSAM:

Bro, how in the heeeellllll did you lose sixty-five thousand dollars on ONE trade? Seriously, please explain, if you care to do so. Just curious and it could help some other trader.

It is not hard to do, even by a good trader in a good trade.

At my firm, a trader was long 7500 shares of MO. It was a good trade and he was profitable on it. At just that time, they announced that $30B award to that one woman.

MO was halted and reopened $10 lower. He was actually able to contain the damage to about $44,000 by the end of the day.

nitro

 

[BSAM]

Quote from nitro:

It is not hard to do, even by a good trader in a good trade.

At my firm, a trader was long 7500 shares of MO. It was a good trade and he was profitable on it. At just that time, they announced that $30B award to that one woman.

MO was halted and reopened $10 lower. He was actually able to contain the damage to about $44,000 by the end of the day.

nitro

nitro.....

Stretching things just a liiiiiittle, aren't we nitro? You're illustrating the exception to the general rule. Most people don't lose $65,000 dollars on a trade. Most never have and never will. If it was that easy, not many besides Warren Buffet, Bill Gates, etc. could risk trading. (Sky's not falling, nitro. Relax.)

 

[lindq]

Quote from 1st_samurai:

Papertrading with awesome results? Wow, sounds like my paper trading when I was in high school long ago. Let me tell you are in for a long ride when you finally start real trading.

Don't you just love these guys giving advice based on their paper trading, or real life experience of all of two months?!

If only they knew.

 

[Mecro]

Quote from nitro:

It is not hard to do, even by a good trader in a good trade.

At my firm, a trader was long 7500 shares of MO. It was a good trade and he was profitable on it. At just that time, they announced that $30B award to that one woman.

MO was halted and reopened $10 lower. He was actually able to contain the damage to about $44,000 by the end of the day.

nitro

Ohhh that MO is one fuuuuunnnnnnn stock to trade. 7500 shares, wow that trader must be damn good and got some big cajones.

To the original post, yes $100k a year is possible and realistic trading stocks, at least at the moment. You do need some BP as silk mentioned. 200k should do it and you can get that from a prop firm.

4 years experience is still experience. Quite valuable in trading, IMO.

 

[1st_samurai]

Quote from 1st_samurai:

Papertrading with awesome results? Wow, sounds like my paper trading when I was in high school long ago. Let me tell you are in for a long ride when you finally start real trading.

Sorry, don't mean too be caustic, but just telling you the truth.
The market is an even harsher teacher!!!

 

[stock777]

What you have to watch out for, is a trading style that lets you make some decent money for a period of time, but in reality is a time bomb.

Many traders during the bull, had this kind of game. Unless you luck out , and leave the table before your turn to blow up arrives, you give it all back + interest.

Be careful that there is in fact a difference between the 'mistake' and the 'good' trades.

 

[nitro]

Quote from Mecro:

Ohhh that MO is one fuuuuunnnnnnn stock to trade. 7500 shares, wow that trader must be damn good and got some big cajones...

Well,

It is a DOW component after all, isn't it? You would think you were "safe" from such lunacy.

nitro