what should I look at to earn 3K in a month?

cle_winner · Apr 2, 2011

Ha, another jaded loser. Exactly the type of response I expected here!

Well, Mav, maybe I wasn't clear enough. The point of the post was to illustrate that automated trading can be superior to discretionary day trading. Taking the emotion out of trading by using technology worked for me, and it can work for others, too.

In my ten years, this is not my *first* profitable month. I lost more early on and became more successful as time went on. But he profits were not as much as I was hoping for the past few years, because trying to successfully day trade while working a regular job is extremely difficult. If you can't devote 100% of your attention to it, it's hard to succeed.

I'll be glad to post the P/L from my monthly statements here as soon as I get them. See ya on May 1st!

Sam Mcgee · Apr 3, 2011

"The average price of a hot dog cart ranges between $2,000 and $5,000"

"Many hot dog carts pull in $200 to $300 a day in cash." X 20 = $6000 a month

http://www.ehow.com/how_4963971_buy-hotdog-cart.html

nutmeg · Apr 3, 2011

Quote from Sam Mcgee:

"The average price of a hot dog cart ranges between $2,000 and $5,000"

"Many hot dog carts pull in $200 to $300 a day in cash." X 20 = $6000 a month

http://www.ehow.com/how_4963971_buy-hotdog-cart.html

Pffftttttt..

What's the difference between watching a hot dog cook on a grill and screen time?

On the upside,

you always have something ready to eat.

If you have a good "downtown" location, you might "overhear" a strategy from a quant who stops in for a weiner.

Pekelo · Apr 3, 2011

Quote from Sam Mcgee:

"The average price of a hot dog cart ranges between $2,000 and $5,000"

Insufficient info. The overhead is huge. We had a similar thread already about hotdog vendors and in NYC they have to pay like 50K a month for a good location. Add that and the weather too, and see how good a business it is.....

http://www.slate.com/id/2224941/

"A hot dog vendor was kicked from the curb outside New York City's Metropolitan Museum of Art last week for failure to pay his monthly rentâof $53,558. Pasang Sherpa was under contract to pay the Parks Department $362,201 a year for a stand on the south side of the Met's entrance and $280,500 for another on the north side. "

galvinlee888 · Apr 3, 2011

Quote from cle_winner:

Ha, another jaded loser. Exactly the type of response I expected here!

Well, Mav, maybe I wasn't clear enough. The point of the post was to illustrate that automated trading can be superior to discretionary day trading. Taking the emotion out of trading by using technology worked for me, and it can work for others, too.

In my ten years, this is not my *first* profitable month. I lost more early on and became more successful as time went on. But he profits were not as much as I was hoping for the past few years, because trying to successfully day trade while working a regular job is extremely difficult. If you can't devote 100% of your attention to it, it's hard to succeed.

I'll be glad to post the P/L from my monthly statements here as soon as I get them. See ya on May 1st!

A monthly P/L won't tell anything and is still can be faked. To show your system is profitable, you have to posted your trade in REAL time - if you posted 10 trade in row in REAL time and you are profit (after commision and slippage, then the fact will speak by itself.

trader_mk · Apr 3, 2011

The guy had a great month if it actually happened. And that kind of thing does happen. He should be happy, and also wary of such a deviation, but I wish him continued success nonetheless.

To the previous poster, the net result of a sample of 10 short term trades doesn't tell you shit about the overall profitability of your trading.

hippie · Apr 3, 2011

Quote from forsalenyc:

Only one way......you'd need to join a prop firm.

Are u suggesting that he give his 6k to a scam prop for "training"? 6k is not enough to join most scams these days.

galvinlee888 · Apr 3, 2011

Quote from trader_mk:

The guy had a great month if it actually happened. And that kind of thing does happen. He should be happy, and also wary of such a deviation, but I wish him continued success nonetheless.

To the previous poster, the net result of a sample of 10 short term trades doesn't tell you shit about the overall profitability of your trading.

Most "profitable" trader here can't even show they are profitable in 10 trade in row, most of the them will tell the whole world when they have one winning trade (with small profit), and keep the head down for the next two big losing trade

daveyc · Apr 3, 2011

Quote from galvinlee888:

Most "profitable" trader here can't even show they are profitable in 10 trade in row, most of the them will tell the whole world when they have one winning trade (with small profit), and keep the head down for the next two big losing trade

This is so true! Its like some traders are too proud to admit any losses when we all know that its inevitable to lose and it doesn't matter what skills you have or that you think you have or what software you are running. The simple fact remains that only a few can really make it consistently and profitably and survive over the long term and those guys probably aren't hanging out on boards like this sharing their trades.

trendo · Apr 3, 2011

Quote from cle_winner:

My initial deposit was $4000. At the end March, my total P/L was +5,232.52 trading the S&P Midcap 400 futures and the DAX futures. My return was around 130%.

How much leverage per trade do you typically use? Just curious.