Trader from Hungary looking for Mentor or working strategy

[themickey]

Thank you guys for your posts and e-mails replying to my thread. I received some questions what my definition of a working strategy is. So during the years I spent looking for strategies I discussed traders who showed me their performance report about $500 average daily profit. This performance was made on a simply 25K daytrading account. That is 2% average daily profit based on the 25K initial capital. I think it is a very good result if we consider that they never risked the whole capital on a trade, only a part of it. (Unfortunately, nobody shared this strategy only an extract of the performance.)

I’m not expecting such a big profit at the beginning, but I think 100% annual profit with 10% drawdown is already tradeable. If a trader can not make 100% annual profit with a reasonable drawdown, it is not worth trading every day (speaking about daytrading).

I have encountered strategies which were offered for me, but they were good for nothing. They were not really tradeable, existed only on paper as a backtest with terrible large drawdowns, or minimal annual profits.

To avoid confusion, I am not looking for easy money. I know that good system costs a lot of money or a lot of work. That is why I started learning programming to achieve my goal. But I have already encountered professional traders and I know that 500-1000% annual consistent profit is not impossible.

LMAO

 

[d08]

Ah, 100% APR with 10% DD, I assume you mean consistently. The naivety is something else nowadays. The minimum for daytrading for a living is a 100k account. Anything less is ridiculous.

That is why I started learning programming to achieve my goal.

This itself requires a good 5 years to achieve any kind of usable skill.

 

[d08]

But I have already encountered professional traders and I know that 500-1000% annual consistent profit is not impossible.

You talked to the richest person who ever lived!
500% compounded over 5 years from 25k is 2,139,704,211,279,846. 2 trillion dollars in five years, no problemo! Even at just one year you'll be at $3.8 mil.
Stay in school children and study math.

 

[sef88]

Thank you guys for your posts and e-mails replying to my thread. I received some questions what my definition of a working strategy is. So during the years I spent looking for strategies I discussed traders who showed me their performance report about $500 average daily profit. This performance was made on a simply 25K daytrading account. That is 2% average daily profit based on the 25K initial capital. I think it is a very good result if we consider that they never risked the whole capital on a trade, only a part of it. (Unfortunately, nobody shared this strategy only an extract of the performance.)

I’m not expecting such a big profit at the beginning, but I think 100% annual profit with 10% drawdown is already tradeable. If a trader can not make 100% annual profit with a reasonable drawdown, it is not worth trading every day (speaking about daytrading).

I have encountered strategies which were offered for me, but they were good for nothing. They were not really tradeable, existed only on paper as a backtest with terrible large drawdowns, or minimal annual profits.

To avoid confusion, I am not looking for easy money. I know that good system costs a lot of money or a lot of work. That is why I started learning programming to achieve my goal. But I have already encountered professional traders and I know that 500-1000% annual consistent profit is not impossible.

LOL if it's 100% annual profit with 10% drawdown, you should mortgage your house; max out all the balance transfers in the credit cards; borrow whatever money you can find and deploy into the strategy.

 

[sef88]

Ah, 100% APR with 10% DD, I assume you mean consistently. The naivety is something else nowadays. The minimum for daytrading for a living is a 100k account. Anything less is ridiculous.

This itself requires a good 5 years to achieve any kind of usable skill.

I would think half a million is more viable. 1 million is more comfortable.

 

[d08]

I would think half a million is more viable. 1 million is more comfortable.

Depends where you live and whether you already own anything. 40% on 100k is not unrealistic and $40k allows most to live a decent quality life in medium income countries like Hungary (average person earning $1.4k monthly). Triple the average wage is fine.

 

[sef88]

Depends where you live and whether you already own anything. 40% on 100k is not unrealistic and $40k allows most to live a decent quality life in medium income countries like Hungary (average person earning $1.4k monthly). Triple the average wage is fine.

I live in most expensive city in the world (Singapore - according to Economist.com) - though that is a kind of misnomer because the basket of goods and services are based on Expats basket which is kind of unrealistic for commoners.

Survived on my portfolio of strategies which is mid 6 figures during my 6 month sabbatical (ending this month) to expedite my remote CS masters in Georgia Tech but it's still kind of a stretch (with a newborn and living expenses) to grow on a consistent basis. Will try to head back to workforce for easier cashflow. HAHA!

 

[themickey]

For CONSISTENT returns on mkt one needs a large trading capital.
A reasonably good profitable trader will be lucky to pull in 30% pa consistently.
Some will do better but getting over 50% pa will be difficult imo, nigh impossible.
My guess is on average 20% pa would be a good year for many. That is on total trading capital.
Now I'm talking about consistently, not every now and again.
The smaller the trading capital, more inconsistent your returns.
Getting consistent returns is difficult in itself for anyone.

 

[sef88]

For CONSISTENT returns on mkt one needs a large trading capital.
A reasonably good profitable trader will be lucky to pull in 30% pa consistently.
Some will do better but getting over 50% pa will be difficult imo, nigh impossible.
My guess is on average 20% pa would be a good year for many. That is on total trading capital.
Now I'm talking about consistently, not every now and again.
The smaller the trading capital, more inconsistent your returns.
Getting consistent returns is difficult in itself for anyone.

I find that trading for a living. Having consistent monthly return stream of 1-3% is more palatable (I'm talking about monthly, not daily!). Having hugely positive skew strategy that gives outsized returns once in a blue moon is hard to digest and realize. That's my 2 cent worth.

Of course I'm talking about total capital and not siloed strategies or accounts.

 

[MichalTr]

as I'm not making 1000% annual consistent profits I will gently leave this thread ... in shame and silence