This is a normal return and most traders on this board average 30 to 40% a week. Assuming you started with $1000 you should have somewhere around $1,257,494,424.58 at the end of the year. But that's before taxes.
Here's the real deal.... You probably risked like 20%+ percent of your account to get that and you happened to get a winner. Now don't forget to come back here when your next trade is a loser and those gains are just about wiped out. After Thursday's tough trading day, I'd bet you already lost a big portion of it. Not trying to be overly negative, but this is just the truth. If you put a huge % of your account at risk, of course you're going to make a lot when you're right. The question is, how much will you give back on your losers. If you wanted to be realistic, you'd admit you risked a lot, you'd hope that on your next loser(s) you don't lose all those gains, and see if you can keep your account growing. You are not going to make 31% of your account every 8 trading days, I can tell you that. The best trader on planet Earth probably can't do that, never mind some newb. Any trader on this board could have done what you did if they risked a lot and got a winner. BUT THEY KNOW BETTER NOT TO. Because if they were wrong, to make up for the loss they'd have to have an even larger next win. The smart traders know this and they risk very little per trade. I know it's tough being an undercapitalized trader, if you are one... ROCK
I usually risk 1% with a 200% upside target. So I can have 200 losers to each winner before I lose money. I got the method from an out of print book written in 1919.
No! That's not the power of compound interest. It's the power of position sizing and riding winners. Demo of powe rof compound interest is if one had $1 compounded since the time of Christ it would be over billions now.. even at 3% compounded annually...
I think everyone who is critical of the initial post have a very legitimate point...A guy who is trading a $2,000 account and makes 31% in 8 days is radically different from a guy trading a six figure account making that same return in that small a time frame... Heck, who is to say that the same guy didnt buy a bunch of out of the money call flyers and made that gain...No facts given about the account or the methods used, hence its just more bogus public masturbation that has become the trademark of this forum...