1000 shares per trade, $7,000 week profit is this below average or average profit for a trader for the past 5 years. What would be a good average?
How about 7 points per week then. So if you bought 5000 shares per trade that week , then you make $35,000. Is the 7 points per week a good average or below
Is this some sort of dick measuring question? Can you pay your bills trading? Can you buy a couple extra widgets while you're at it? If you pass that hurdle you're doing OK these days.
Assuming you are position trading and doing crossover trades (average of 2 a week) and using a High Quality Universe, my view is that you are above average in the milieu of normal position traders. The prices of 3 Beta stocks is usually in the 20's. Assuming you have an all in approach (based on the cycling of the Universe) it would take about 3 streams of capital @ 25,000 per stream to nail 7K consistently. Your description of your trading approach is a little sparse. Usually a person in your position compounds capital so the static level you mention for 5 years means that you do not compound and you have a life style of about 350,000 a year to support. Most people would cut back a little and grow capital for a while so that the weekly take goes to 50K a week by trading at the block size of the 3 Beta stocks. You are way under the normal block size for your reasons. If it takes you 5 years to begin to recognize your strategy is static, that says a lot about your financial reasoning prowess. Most people would conclude from your post that you are dealing hypothetically.
Jack Thank you for your Kind post. I had no idea of the negative responses and how they beat you up this forum. At least I no I am going to make 7-10 points this week. how about u: cgeorgan, Anaconda, madknock
Please consider adding some profits to your capital base and then running parallel streams of capital. Shifting up to block size and then doing partial fills at block size is a common and simple way to advance capital. Running up to 12 streams is very manageable. We pull a new Universe weekly(an add and delete, really) and for any day the are usually 6 or more good choices for stocks that will move 4% a day, thus allowing two trades a week at a nominal 10% profit for each. This compounds at a rate of 100 cycles a year. For high money velocity in trading, you have to go elsewhere. the surplus profits form this commodities trading winds up in position trading stocks. I feel that there is a limit when trading multiples (partial fills) of block size. Fro me it come in at about 100,000 share holds and 20 partials to get in and 30 partials to get out. Please regard the negative running commentary where I post as a kind of humor. some people have very strong beliefs about what the market puts on the table as an offer. These people cannot adjust to the standard of anyone taking the market's offer. It is a strange and common trait of those whgo use the conventional wisdom of the financial industry. One thing about these people is how they keep the hit rate up in threads they are active in. Some of the funniest stuff is the repetition of pics. One person originate a pic and other cut and paste it as their sentiment. Sometimes I think about giving them a loaner ATS so they can make a real pile of money. I would have to provide their initial buying power too. It would be fun. They get rich and then do not need the loaner anymore. My main focus now is building capability with a team of guys and gals who are completing a successful modle for treating PTSD amoung vets. We go back to vietnam vets for part of our team. we are giving scholarships the a "mindfullness center" for practioners in psychology, psychiatry, therapy, etc... we are also forming a mechanics operation where we take in cars and refurbish them and give them to vets who do have homes but no jobs. This gets them mobile and they can secure jobs as they are able to deal with PTSD. My world has a lot of contrasts. The OCD detractors here can only be laughed at; no one takes them seriously except for the dreadful mental state they acquired. It detracts from the ET mission statement and does prevent some threads to maintain quality as the ignore function is limited to original posts. On the other hand seeing traders continually get better and better both in trading and dealing with PTSD is something else AND they help others 24/7 too. I do daily debriefing emails with up to 10 pages of backup including the carryover considerations. Today, I emailed the open too since it was complicated. Don't worry about the detractors; they are reading every word posted but it just can't sink in at all anymore. When you get ahead of the curve help solve local problems. There are some really neat people out there who help others.