@Trading Education Buyer
Do you feel better about yourself when you post glaringly obvious "truths" on ET?
Do you feel better about yourself when you post glaringly obvious "truths" on ET?
Its impossible to be profitable in trading as a retail trader
- Thread starter quant983
- Start date
And now you want to do something similar giving advice on ET?
ET stands for elite trader, not elite troll...
This Bruce Lee quote can be applied to trading. “You must be shapeless, formless, like water. When you pour water in a cup, it becomes the cup. When you pour water in a bottle, it becomes the bottle. When you pour water in a teapot, it becomes the teapot. Water can drip and it can crash. Become like water my friend.” Learn every trade setup, combination, permutation and when the situation rises apply what you have learned with precision. Understand when to apply any trade strategy for the market situation. And be prepared to cut your loses quickly.
Some of us are lucky enough have a father who spent 40 years in the business. One day, he sits you down by the fireplace, pours you a snifter of brandy and says, "Son, it's about time you learned how to profit in the market. Here is how I made my first million."
This is not me, and it doesn't sound like it's you, either.
There are ways to see into the future. Profitable trading strategies that give you an edge exist, but you have to figure them out for yourself; you won't find them in books or on the 'net. They are like good fishing holes, mushrooming spots, or the like. The minute that they become public information, they get cleaned out faster than the last bag of chips at a Phish concert.
This is not me, and it doesn't sound like it's you, either.
There are ways to see into the future. Profitable trading strategies that give you an edge exist, but you have to figure them out for yourself; you won't find them in books or on the 'net. They are like good fishing holes, mushrooming spots, or the like. The minute that they become public information, they get cleaned out faster than the last bag of chips at a Phish concert.
Unless they start with close to a million, most buy and hold guys won't be millionaires within 5 years. A few very lucky guys might if they started the 5 years from Mar 2009. On the other hand, a few traders might if they started the 5 years trading from Mar 2009.
Unless they start with close to a million, most buy and hold guys won't be millionaires within 5 years.
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I just read the other day for one of the tier-1 brokerages for active retail traders/investors the average account size is just over $60,000. Lets say you have a full time job and add in $10K each year for the next 5 years and the stocks & ETFs you pick average 25% ROR. In 5 years you have $1,167,949. See, that wasn't so hard. Having a job helps a great deal, since compounding is the opposite of paying bills from your trading account. Trading your way up to a million without a job - very few can do that.
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I just read the other day for one of the tier-1 brokerages for active retail traders/investors the average account size is just over $60,000. Lets say you have a full time job and add in $10K each year for the next 5 years and the stocks & ETFs you pick average 25% ROR. In 5 years you have $1,167,949. See, that wasn't so hard. Having a job helps a great deal, since compounding is the opposite of paying bills from your trading account. Trading your way up to a million without a job - very few can do that.
Total amount on account divided by number of accounts gives $60,000.
But where is the median? Because that's the amount 50% of all traders have, and is much more significant. Surely much lower then $60,000. I think most people on ET don't have that amount in their account.
25% ROR? Most traders will never reach that in stocks.
According to me you will have $265,175.78, not $1,167,949 if you add 10K end of the year. If you add it at the beginning of each year the result would be $285,693.36.
With math you can proof anything, all depends of how you pick the data for calculating.
That wasn't so hard? Even taking correct data and calculating correct seems already to be a problem. And then you did even not start to trade...
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You made the following mistake: they ask the MONTHLY addition of capital. You should put there 1000/12=833.33; but you put there 10,000 (which is the YEARLY added capital).
Logically you should understand that 60K, even with addition of 10K a year , at 25% can never give $1,403,978. You need a ROR of 82% to arrive at your result.
You should not think big, you should think right. And know correct math...
I used YOUR calculator, watch the result.
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No, you did not hit the daily. Try first to read correct.
Amount that you plan to add to the principal EVERY MONTH.