The problem with this statement is that such strategies exist only in the imagination.
TV
To make a living you need at least 300k in your account?
- Thread starter crgarcia
- Start date
The problem with this statement is that such strategies exist only in the imagination.
TV
hey, can someone stand up and testify to really and truly taking a $1,000 or $2,000 or $5,000 account to $50k, $100k?...totally honest...
I get: 1000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000%
In a few minutes!
With a hand tied to my back!
While playing a one man band!
Watching a movie with one eye, and the market with the other!
While dancing over a tightrope!
And with a random entry system, just timing the exits!
As expected, here they come bragging about fantastic returns.
This thread was originally started with reallistic profit targets.
Even if you could get 50%+ profits at a given day, you shouldn't even try, you are overleveraging.
You may risk it all with a $10k- account.
You must be relatively conservative with accounts over $100k, specially if you are at an old age.
i deposited 2K at a prop shop over a year ago. make on average more than that daily so that's a decent living, no?
so yes, you don't need a lot of money to start if you can go the prop route.
if i decide to leave, i'll get 2K deposit back, and go somewhere else and put down something similar. big money....
show any prop with a % payout structure that you can consistently make 500 a day and they'll throw money at you so you can make more
Yes.
Need at least 100k to make a living as a daytrader? BULLSHIT!
I started with $6500.00 back in 2006 and Ive traded exclusively ES minis since day one. Started off trading 1-2 contracts per position on 2min and 10min overlapping charts and almost "religious" use of pivots. Now Im trading 10-20 contracts per position and manage 3 accts(each over 100k) for close friends(I get 20% of their end of yr total gross profit).
It all comes down to how good your trading strategies are and of course...MONEY MANAGEMENT....and having THICK SKIN for neg days helps too....keeps you focused on the actual "running gears" that move the market....which brings me to another point. Some ppl are just to emotional to be traders..they let wild market swings and/or losses rattle them psychologically and it goes downhill from there for them..... you gotta have or develop thick skin. Like a pilot trying to land a plane with hijackers onboard....hes gotta keep his concentration on the working parts of the plane to get to the ground safely...block out mentally whats going on in the back. I think Ive made my point
One other thing Ive learned... once you get good at trading a certain market...STAY WITH IT!!! Dont try and conquer the world by meddling in other markets you havent taken time to learn thoroughly.
Case in point: Once I became very consistent and profitable at the E mini market, I thought I could just go into FOREX and do same thing... result?
I got my ass handed to me quickly and bluntly.
Now, I stick with what I excel in.... and thats it !!
I started with $6500.00 back in 2006 and Ive traded exclusively ES minis since day one. Started off trading 1-2 contracts per position on 2min and 10min overlapping charts and almost "religious" use of pivots. Now Im trading 10-20 contracts per position and manage 3 accts(each over 100k) for close friends(I get 20% of their end of yr total gross profit).
It all comes down to how good your trading strategies are and of course...MONEY MANAGEMENT....and having THICK SKIN for neg days helps too....keeps you focused on the actual "running gears" that move the market....which brings me to another point. Some ppl are just to emotional to be traders..they let wild market swings and/or losses rattle them psychologically and it goes downhill from there for them..... you gotta have or develop thick skin. Like a pilot trying to land a plane with hijackers onboard....hes gotta keep his concentration on the working parts of the plane to get to the ground safely...block out mentally whats going on in the back. I think Ive made my point
One other thing Ive learned... once you get good at trading a certain market...STAY WITH IT!!! Dont try and conquer the world by meddling in other markets you havent taken time to learn thoroughly.
Case in point: Once I became very consistent and profitable at the E mini market, I thought I could just go into FOREX and do same thing... result?
I got my ass handed to me quickly and bluntly.
Now, I stick with what I excel in.... and thats it !!
Quote from crgarcia:
I get: 1000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000%
In a few minutes!
With a hand tied to my back!
While playing a one man band!
Watching a movie with one eye, and the market with the other!
While dancing over a tightrope!
And with a random entry system, just timing the exits!
What, you doubt that I can make 625% a day while shopping at Wal-Mart? How dare you!! I Shop At Wal-Mart!!!
: )