My job is holding me back

Businessman said:
$6K is doable, just not every day. After taking losing days into account you will average or net just a fraction of that.

If you want to average $6K a day ($1.5million per year), you probably want to be making $60K (or more) on a good day.
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I am talking about having an actual edge (with context as well). There's no reasons you should be having more than 10-12 losing days a year max, if even that. You may make less than that because you have to sit some days out due to context, or some days you can't make 6k, that's true. But you will also have days you make more than that.

When I say 6k, I don't mean on average. 6k is just a very minimal amount and reachable goal without putting tons of risk on the account.
 
Concinnity said:
I am talking about having an actual edge (with context as well). There's no reasons you should be having more than 10-12 losing days a year max, if even that. You may make less than that because you have to sit some days out due to context, or some days you can't make 6k, that's true. But you will also have days you make more than that.

When I say 6k, I don't mean on average. 6k is just a very minimal amount and reachable goal without putting tons of risk on the account.
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Is this theory or are you actually achieving these kind of returns?

One of the top reasons that traders fail is unrealistic expectations.

Even if you only made 6k per week, not per day, with 100k account and didn't compound, you would have over 1.6 million in a year. 1500%/Yr is an unrealistic return.
 
deaddog said:
Is this theory or are you actually achieving these kind of returns?

One of the top reasons that traders fail is unrealistic expectations.

Even if you only made 6k per week, not per day, with 100k account and didn't compound, you would have over 1.6 million in a year. 1500%/Yr is an unrealistic return.
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Nope, not making these numbers yet so that's a fair critique. I am just expanding what I can do comfortable now without risking a high failure rate or causing me any type of emotional response / mental failure. Also only expanded it up to what wouldn't effect liquidity or the type of trading I am doing either (not that this is a huge issue what I do works on multiple instruments) but I wanted to be fair in that regard as well. Your point is well taken though, so you can invalidate what I say at your leisure, doesn't effect me.

However, it's not just me not being objective. There's another person that trades with me on voice following the same concepts and trading that I do and they trade a lot larger and are seeing similar results. Plus what I do is very systematic and consistently repeatable on both the long and short side on most days (only under complete lack of stability I may have an issue, but I haven't been able to test that live, we haven't had limit down days or anything in a while).
 
deaddog said:
Is this theory or are you actually achieving these kind of returns?

One of the top reasons that traders fail is unrealistic expectations.

Even if you only made 6k per week, not per day, with 100k account and didn't compound, you would have over 1.6 million in a year. 1500%/Yr is an unrealistic return.
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It isn't about the return rate, why do you guys view things like this? Someone could have a 10000000% return rate who bought bitcoin at the lows and sold at the highs. Or maybe they went all in with their account and can show you a 10000% return rate this year. What does this have to do with day trading in a consistent manner? absolutely nothing. Return rate doesn't necessarily mean anything in a good or bad way, all that matters is your risk of failure.

It's about failure rate. Not rate of return. If I have 500 points of NQ risk and risk 8 points as a stop loss I have roughly 62 trade before failure. If my win rate is even 58% and my R/R even 1 risk to 2 reward, than my risk of failure is extremely low. That's how you get consistent and sustainable exponential gains. That's day trading.

I am not talking about having a large account, trading relative small size, averaging down, using time and account size as my edge. More power to you guys that have the ability to do that, you've earned it. But again that is the lowest hanging fruit when it comes to an edge in trading and it's pretty difficult to consistently compound your money that way, maybe that is why so many people here view things in a manner of "return rate" as opposed to "risk of failure".
 
I did not see it mentioned, but there is a huge difference between Day Trading
and Swing Trading. OP did not actually specify, but seems likely he is a Day Trader.

I find that Swing Trading is much less stressful, but may take time.
And Swing trading requires capital.
The most famous Swing Trader of our time is Warren Buffett.
He started from $0.00.
Can be done, but the OP should know the difference.
 
Concinnity said:
It isn't about the return rate, why do you guys view things like this? Someone could have a 10000000% return rate who bought bitcoin at the lows and sold at the highs. Or maybe they went all in with their account and can show you a 10000% return rate this year. What does this have to do with day trading in a consistent manner? absolutely nothing. Return rate doesn't necessarily mean anything in a good or bad way, all that matters is your risk of failure.

It's about failure rate. Not rate of return. If I have 500 points of NQ risk and risk 8 points as a stop loss I have roughly 62 trade before failure. If my win rate is even 58% and my R/R even 1 risk to 2 reward, than my risk of failure is extremely low. That's how you get consistent and sustainable exponential gains. That's day trading.

I am not talking about having a large account, trading relative small size, averaging down, using time and account size as my edge. More power to you guys that have the ability to do that, you've earned it. But again that is the lowest hanging fruit when it comes to an edge in trading and it's pretty difficult to consistently compound your money that way, maybe that is why so many people here view things in a manner of "return rate" as opposed to "risk of failure".
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Return rate is the ONLY way to measure how well or poorly a trader/investor is doing. All that matters is what was your trading account balance on jan 1,2022 and what is it today. Do you think the US Investing Championship uses "risk of failure" to measure how well those traders/investors are doing?
 
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SunTrader said:
Unless I missed it where did OP mention need for exponential gains?
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Eventually as a full trader you have to make exponential gains to just keep up with inflation. Unless you want to make less and less every year (after inflation).

So at the least, 5% exponential gains per year is the minimum.
 
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