this is the best advice, but honestly you be better off playing poker with that kind of bankroll. you will only have 3 day trades every 5 business days. good luck
what should I look at to earn 3K in a month?
- Thread starter vk60546
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this is the best advice, but honestly you be better off playing poker with that kind of bankroll. you will only have 3 day trades every 5 business days. good luck
get a job
I find it extremely difficult to stay in the game trading credit spreads, so I would suggest you just take directional trades and hope they work for you. Don't want to discourage anybody from trying to make it in this business but if you can, stay humble. I think 50% monthly returns would happen once in a lifetime.
I have traded credit spreads in the past 2 years, and can say with luck ONLY I avoided a catastrophic flash crash which would have dessimated my account. Most returns you hear about from so called pros are mostly either made up or they are trading multiple accounts with multiple brokers and showing their winners only. Only a very few can trade on a full time basis, in my opinion and from what I can see around me. Take a look at how many hedge funds fail and those are supposed to be pros running the show, for example.
Ha, at this point I may just get out while I'm still ahead of this game and get back into real estate which had worked so well for so long and now with all the fire sales just may be the time to get back in. Who the heck knows, what I do know is that traders are in a market manipulated with daily gap ups and whether you choose to trade eminis or options, just trade small. This massive bull market just might end very badly and will take no prisoners.
Thats my rant, hope it doesn't sound too negative but maybe give you and others a small sample of how difficult a trading business may be for you. Good luck.
I have traded credit spreads in the past 2 years, and can say with luck ONLY I avoided a catastrophic flash crash which would have dessimated my account. Most returns you hear about from so called pros are mostly either made up or they are trading multiple accounts with multiple brokers and showing their winners only. Only a very few can trade on a full time basis, in my opinion and from what I can see around me. Take a look at how many hedge funds fail and those are supposed to be pros running the show, for example.
Ha, at this point I may just get out while I'm still ahead of this game and get back into real estate which had worked so well for so long and now with all the fire sales just may be the time to get back in. Who the heck knows, what I do know is that traders are in a market manipulated with daily gap ups and whether you choose to trade eminis or options, just trade small. This massive bull market just might end very badly and will take no prisoners.
Thats my rant, hope it doesn't sound too negative but maybe give you and others a small sample of how difficult a trading business may be for you. Good luck.
FX spot, max leverage 20:1.
Wow! 50% monthly?!? I'm not nearly as pessimistic as many on here, but that is really tough to do more than about once every year or two. That is over 12,000% compounded. If you do it more than two or three months in a row, then there is likely going to be a double helping of luck involved.
But realistically, if you have the necessary skills (that are extremely rare) you might hit a point down the road where you comfortably make 10-20% in any given month. There is a high likelihood that it won't be this same $6K that you have at that point, because you'll probably have blown up a time or two in the process of figuring things out. You can expect this all to take about 6-10 years, while having wild swings in account value in the mean time.
Anyway, if you feel like you're up for the hardships and don't mind losing that $6K in your pocket, then you should be trading futures.
You can make average 3k/month if you have 100K capital, even in this case, you has to be experience enough.
6K ? Better invest to buy and read some good trading books, and hopefully you can get a job in any pro. form.
It is technically possible to make gains like that with an ultra high frequency system, such as an algorithmic scalping or arbitrage system.
However, you as a retail trader likely cannot do this.
As a standard technical swing trader you will probably blow the account if you aim to make 50% per month- it is just too high a goal to begin with.
The best way to make outsized returns is to follow my model- be very aggressive with your profits and up your bet sizes greatly when you are on a winning streak and 'trading in the zone', but ultra defensive when you start losing and quickly cut down your betting sizes.
This is the only way I believe you can make very large returns without a high risk of bankrupcy.
Good luck.
However, you as a retail trader likely cannot do this.
As a standard technical swing trader you will probably blow the account if you aim to make 50% per month- it is just too high a goal to begin with.
The best way to make outsized returns is to follow my model- be very aggressive with your profits and up your bet sizes greatly when you are on a winning streak and 'trading in the zone', but ultra defensive when you start losing and quickly cut down your betting sizes.
This is the only way I believe you can make very large returns without a high risk of bankrupcy.
Good luck.