This is a very common thread topic. "Can I make X per week/month/etc on an account of size Y?" where X is an extremely large return value relative to Y. Trading is about assessing odds and risk. Sure, making $500 a week on a 2k account is theoretically possible. So is becoming president of the United States or forming a rock band that goes on to be as big as U2. What are the odds of that happening? There was another thread I saw where a poster asked if he could make 20% per year swing trading stocks. Certainly, that is a challenge to do consistently but that is much more reasonable objective. fan27
its probably written in one of the many forms you have to read beforehand opening an dollar brokerage account. if not then your broker made an error. I was well aware because I skimmed most of my forms.
I donât want to brag but I was doing great trading equities. I was earning a 3-4% return a week! 3 being the lowest and 4 being the highest. Again how much of this was luck and being in a bull market? I am quite certain a lot of the success was part of the major trend and high return on the broad average. Obviously I wouldnât come close to this in a bear market, I probably would lose everything, or even sustain this return in a bull market. <O></O> My questions were to get the experience of futures day traders. Their opinions and what type of returns that they get. <O></O> I wasnât saying can I make 1000 a day or such nonsense. I was even asking if 300 a week was possible to be realistic. 500 was the absolute high end. <O></O> I was curious to see if the higher leverage would turn a 3% return in stocks into a 20-25% return in futures. Fair enough inquiry. <O></O> A lot of cool posters have provided serious replys that have helped me so far. For that I thank them, elite, dom, ammo, and a ton more.
I'm 16. I live in a corner of my uncles basement. I dropped out of high school and never attended college, not even community. (DUH, I'm only 16).I consider myself lucky to have a computer to look up big words and famous sayings. Vocabulary and quotations can take a person far. I can also spell PDT, but I must admit I get it confused with some outlawed pesticide. Did you inhale some of that antiquity spray? Troll On!
Heck, Richie Dennis started with $1,600. He's one out of a hundred thousand futures traders. http://en.wikipedia.org/wiki/Richard_Dennis
Yes indeed! He was trading at the right time, right place, right products and right method. Needless to say the stars were aligned in his favor. "Dennis profited, as he bought successively new weekly and monthly highs in the trending inflationary markets of the 1970s, an era of repeated crop failures and the "Great Russian Grain Robbery" of 1972, when agents of the Soviet Union secretly purchased 30% of the U.S. wheat crop in the space of a few weeks. This set the stage for solid, sustained price trends in both directions for the next several years, a period in which "anyone with a simple trend-following method and a dart board could make a million dollars".[1][4] In contrast to the vast majority of floor traders, who quickly scalped trades throughout a trading day, Dennis held positions for longer periodsâriding out short-term fluctuations and holding over the intermediate term. Dennis often pyramided his positions. In the late 1970s, he bought a full membership at the more expensive Chicago Board of Trade and opened an office upstairs in order to trade more markets." fan27
The 25K rule was put into place only to protect those greedy market makers (they said too many day traders were eating their lunch and making it harder for them to make money...). The "official" reason they gave : "We have to protect the traders from losing their money day-trading" What a joke indeed
Its not a joke. Its to protect people from themselves. Like a seatbelt. Its actually the same reason why you need to be an accredited investor (200K individual income, 300K family income, or >1M liquid assets other than primary property) to invest with hedge funds. The idea is that any money they lose messing around with a risky investment (hedge fund or day trading), is negligible compared to their total net worth, so as to not affect their well being and ability to live life when they lose it all.