Or, you can make you living getting behind losing traders. When the most stops are triggered the market reverses. There's nothing sweeter than buying panic selling 
Small time Daytraders - what is a good return?
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from my experience.
to answer the original question,,min. return is making at least medium salary or fuck this gig.
daytraders receive no respect and is not admirable and not respectable profession if you are only making $50,000/year.
don't even tell your friends and family you daytrade===lie. until you are making $500,00/year in this 'business' and have networth of at least 1 million in real estate and t-bills fully paid for.
to answer the original question,,min. return is making at least medium salary or fuck this gig.
daytraders receive no respect and is not admirable and not respectable profession if you are only making $50,000/year.
don't even tell your friends and family you daytrade===lie. until you are making $500,00/year in this 'business' and have networth of at least 1 million in real estate and t-bills fully paid for.
Quote from ProfitTakgFool:
Don't agree with you on the first part if you can manage to save cash. If you spend all your profits then yes, you are no better off because your risk of blowing up still remains. If you can shield yourself from that risk then yes, you are better off. You should have an amount equal to that of your trading account in the bank or in some liquid asset such as bonds. Over time increase your asset positions, relative to your trading account. It's all about managing risk.
Completely agree with you on your second point but you can use what I mentioned above to accomplish this goal even if you don't manage funds for a living. IMO....day trading is a respectable and admirable position because so very few can do it but I'm obviously biased.
Quote from ProfitTakgFool:
Or, you can make you living getting behind losing traders. When the most stops are triggered the market reverses. There's nothing sweeter than buying panic selling
Great strategy, agreed. Stops get triggered like crazy at S/R levels and MA's, setting the stage for powerful reversals after the shakeouts. I've profited well from this, and gotten shaken out as well, learning a lot in the process.
an honest profession is you providing a service and the buyer or customer profits from your merchandise or service.
market makers hate profitable professional traders who make money off them. why do you think they have the min. $25,000 min. deposit to have the privellege of participating in this game. man you have to pay money to participate in daytrading. or pay to gamble.
daytraders don't produce anything but produce price and scalping manipulating markets.
traders are in the same profession same as car sales people or salespeople.
there are lots of sales people/ managers making over $100,00/year. sp what is their to brag about if you are only making $100,000/year daytrading. nothing to brag about.
market makers hate profitable professional traders who make money off them. why do you think they have the min. $25,000 min. deposit to have the privellege of participating in this game. man you have to pay money to participate in daytrading. or pay to gamble.
daytraders don't produce anything but produce price and scalping manipulating markets.
traders are in the same profession same as car sales people or salespeople.
there are lots of sales people/ managers making over $100,00/year. sp what is their to brag about if you are only making $100,000/year daytrading. nothing to brag about.
Stopping for the week is an artificial thing. There is no more likelihood you will profitable the next Monday than the rest of the week. It is just an unnecessary feelgood.
The point of trading is also to put your money to work. What is the point of sitting around for 4 days???
Now, daily targets make some sense.
your definition. i happen to like it quite nicely, thank you.
i knew someone who used to be a reporter for the WSJ, left and was hired as an analyst for a company. he swore there was no way anyone could succeed daytrading (unless @a firm), and believed it...also believed only way to make money was buy and hold.
seriously.
but if you want to believe it, that's your choice. that's just one less person who might be competing against me...
(EDIT: of course, that wasn't anything related to the original poster's question...)
It is all about "MOVING: the money around. My return on the account is just beautiful thank you. Where i spend some, where i save some, where i give some is all mox-nix. Daytrading is a profession. I planned it that way.
What is YOUR retirement going to look like? That should challenge you just like i was challenged.
Ok, after being woke up at 0400 with lightening, thunder, over and over. maybe i can stay awake and trade.
Feed the HOG, he is getting VERY close to retirement. <a href="http://www.sweetim.com/s.asp?im=gen&ref=11" target="_blank"><img src="http://content.sweetim.com/sim/cpie/emoticons/00020096.gif" border=0 ></a>
What is YOUR retirement going to look like? That should challenge you just like i was challenged.
Ok, after being woke up at 0400 with lightening, thunder, over and over. maybe i can stay awake and trade.
Feed the HOG, he is getting VERY close to retirement. <a href="http://www.sweetim.com/s.asp?im=gen&ref=11" target="_blank"><img src="http://content.sweetim.com/sim/cpie/emoticons/00020096.gif" border=0 ></a>
Daytrading isn't a business. By the time you run into size constraints, you're a millionaire. Daytrading (done properly) has far more consistent earnings than almost any other trading strategy. Because of the high bet frequency, gamblers ruin is much less prevelant in daytrading than other types of trading/investing. The longer you are profitable, the less leverage you need to use - eventually you don't need to use leverage at all.
How are you going to charge 2 and 20 for a 10% return?