To make a living you need at least 300k in your account?

[trackstar]

Quote from Bigpipn:

I've taken $1K to over $20k 4 times. This is the 4th time and I'm up over $50k after taking a $10k DD this week on a stupid mistake (GBP/USD short straddle).

I will have this account over $100k by the end of November.

Fkin awesome. Seriously that is intense. I dont think I would have the tolerance to trade a small account anymore. I would risk too much because of impatience in making the account larger.

 

[Bigpipn]

Quote from trackstar:

Fkin awesome. Seriously that is intense. I dont think I would have the tolerance to trade a small account anymore. I would risk too much because of impatience in making the account larger.

My performance is peanuts compared to a buddy of mine. $25k to over $400k in less than 3 months.

His playa hatin skillz are even more impressive than his trading.

 

[newguy05]

Quote from MGJ:
municipal bonds....very low risk

where have you been?

 

[sumosam]

Quote from lescor:

I don't think about leverage when I trade, at least not directly. I think about how much money I'm risking as a percentage of my account. I also consider how correlated multiple positions might be. It's safe to assume that at times I'd be highly leveraged, having 100's of thousands of dollars in play. But it's not the leverage ratio that's in use, but how you manage the risk, in dollar terms that matters. You can trade with a lot of leverage but not necessarily risk a lot of dollars.

i make about $300 - $500/day using only a small portion of my portfolio...lets say $12,000. Have made alot more by using a six figure amount....but was too stressful, and could not handle a loss.

Eventually, will increase that amount, but you can easily live on $12,000 or so....if you are good at trading and risk/money management.

 

[bwolinsky]

This whole thread is a repeat of all threads starting with "How Much do you Need to make?" or "How Much do you make per day"? or any other thing that brings on all manner of bullshit claims.

Anyway. I think a buffet style 20% per year is a very respectable goal. All you got to do is keep it going for 40 years, though.

I doubt any of the day traders claiming 200% or 450% in a day can keep that going over 40 years. A blowup is going to happen with near 99.9% certainty for people attempting to trade like that.

 

[Daal]

Quote from bwolinsky:


Anyway. I think a buffet style 20% per year is a very respectable goal. All you got to do is keep it going for 40 years, though.

I doubt any of the day traders claiming 200% or 450% in a day can keep that going over 40 years. A blowup is going to happen with near 99.9% certainty for people attempting to trade like that.

This is true for larger sums of money/hedge funds. anybody who thinks they can make 200% a year on that kind of money should quit posting in a forum, open their hedge fund in the cayman and own the world in a few decades. You could be buying islands by the time you retire. But of course no one can do that without a blowup

 

[PJT]

Quote from lescor:

I moved from one prop firm to a different one and set up my account with only $15,000. I had about a year of full time trading under my belt, and had profitable strategies. I made over $200k off that 15 grand in the first year, and sustained my family and all my living expenses as well as paid taxes. Almost every dollar I've earned since (millions) has come from that $15,000. With prop leverage and some experience, in my opinion, you can live comfortably on a $25-50,000 account.

This is awesome.

What a fabulous success story.

Thanks for sharing this lescor.

One quick question for you:

Do you think trading successfully is a factor of emotional intelligence as much as it is technical intelligence?

Thanks and continued success to you and yours.

 

[lescor]

Quote from PJT:


Do you think trading successfully is a factor of emotional intelligence as much as it is technical intelligence?

You need control over your emotions to trade successfully, no one would dispute that. But to grow bigger and bigger, to keep scaling up as your profits grow, is the hardest thing to do and the limiting factor for most profitable traders.

You always hear of guys who make money but then when they try to trade bigger size, they screw things up and take a hit. They know how to trade, but have not let go of the emotional attachment to money. Everyone has a certain comfort level where the money truly doesn't matter. The key to growing is to slowly and methodically bring that level up while at the same time honestly and truthfully letting go of any emotional attachment to your p/l. It is hard to do and takes time.

After you've become consistently profitable though, it's the number one thing I think a trader should work on.

 

[lpchad]

Lescor - statements or method for us to audit, please.

Thanks,

ET Community

 

[Dustin]

Yeah Corey we don't believe you. Statements or ban!