Making over 100,000 day trading?
- Thread starter Dream
- Start date
There's 250 trading days. Some people don't count August and Xmas week due to lack of volatility, but these times have had plenty of movement the past few years.
No vacation time means only $400 per day. This small amt is cake, its the consistency that is tough. Lose 400 one day, and then ya need 1200 the next to keep the ave up.
But yeah, 100k per year is prolly a minimum goal for an experienced full-time trader.
You retail guys and your percentages.
Here's the real and butally honest path that many here have done: Get $10K and have 6 months living expenses in the bank, call Bright, Echo, and Assent, find out which one will give you the best mentorship, learn how to trade, then when you know how to trade (6 mos. to 1 year) call each of them again and find out which one will give you the best rates/leverage. Done.
I started trading at a prop firm (won't say which one) with $10K and made well over $100K in my first year of trading but I was fortunate to have a very good mentor who let me sit next to him and taught me how to trade in return for 25% of what I made in my first two years. Was one of the best decisions I have made. If you can find a good mentor you are set, if you have to learn from classes and books you will have a tough time figuring it out but it can be done. Good luck.
Day trading is another horrific way to make money. There are lots of income generation avenues making consistent monthly paychecks till you are 92 years old and sitting on the porch of an Italian villa smoking cigars.
Fighting for pennies everyday you get up? Hard.
Hard, yes. Very... Unless you figure it out and "Get it." Then it becomes very fun and financially rewarding, albeit still hard. Not horrific way to make money in my opinion, quite the opposite. It's what I do everyday, I should know.
Semi-off topic, lately when I get bored I peruse this site, so many people here such as yourself bash trading as a profession. If you don't like trading, why come to a site called "Elite Trader"? Doesn't the name inherently mean a site for the best traders? You'd expect everyone here to be the best traders, reminds me of whatever stat that was in 'Private Parts' where the majority of Howard Stern listeners listened because they DON'T like him, however that was worded. Do people come to "Elite Trader' because they don't like to trade?
I don't come here too often, and was going to privately send you a message just asking what you do? There are lots of way to generate money, I'm just curious what you do. I'm constantly wanting to learn and though I don't need detail, just curious what the 50,000 foot view looks like.
Thanks