I am thinking to become a equity trader. I have no experience and just start reading some books. How much capital will it be needed to generate 200k per year profit? Thanks. wannabetrader
Its more like "how much time will it take to make 200K". If you work at a prop firm, you will get the capital to make that kind of money (not right off the bat though). But it will take you at least 6 months to 1 year to breakeven or even make $1. After that, it will depend upon how well you adapt to the market, how commited you are to success and how badly you want to make it as a trader. 200k a year may take 3 years or longer (maybe even never). If you give yourself 1 year to test the trading game, you will then have an idea of whether or not 200k is reachable for you down the road. Good luck!
How about you send me all your capital. I'll spend it on strippers and booze. Then I'll drive over to your house and kick you in the nuts. My way will be more kind then having a noob piss out all his capital in 1 week. At least if you go with my option you can ice your marbles down and I'll even buy you a beer.
At least ING will give you 3.75% in an Orange Savings Account. Now all you have to do is go blow some 90 year old billionaire like Anna Nicole did and your all set.
A competent trader should double his account each year. Thus, it would take a trader 200K to make 200K.
It's a treacherous path. I'd say $5,000. That way you could start out trading 5 ES contracts at a pop using your entry as your stop, right coolio?? Sorry, I couldn't help it. It's very hard to say how much capital you need to generate 200K in profits . If you're a beginner, you're asking the wrong question, IMHO.
Thanks Steve for your constructive help. risktaker, from your other posts, you ain't taking any risk at all. Please do others a favor, give up your handle and let REAL risktaker use it. tradewiz, you will get my capital, not in lump sum though, but bit by bit. Just be patient and you will have it. I make donations on the net all the time. But most time I get my money back with interest. Ripley, you really get me excited. 100% each year, that's the reason that I want to be a trader. Where do you get the number? Are there any competent trader on this board? I am looking to open an account but don't know where to open it. Does anyone have any opinion on this for example, cybertrade vs tradestation?
The $$$ signs are what is driving you right now. You will fail once you see that you will not be making money any time soon. Sad, but true, no need to waste anymore time.