I would not have a clue if this person actually makes money but of course it is possible, and many people who do trade for a living on their own account would do similar. The compounding argumemt is just daft and shows a complete lack of understanding by anyone who posts it. Buffett's performance is outstanding because of the size he has to trade which requires a completely different approach and a far longer time horizon on his investments. He is an investor. A trader has much shorter time horizon. Say he has $100k he uses as margin and trades up to $2.5m a clip. Making $50k a month really isnt that difficult or unsustainable. However doing those kinds of sums with say even $5m of capital is far far more difficult, especially these days with liquidity far worse than even 2 years ago when the likes of AIG, Bear Stearns etc were supporting the market.
lol, I did not have such a good laugh in a long time ;-) He makes 50% monthly but only keeps 50k in his account? And he trades with fxcm? Well I guess I found out what is going on, he must be paying all he makes to fxcm through the spread and the little he has left before he re-sets his account to 50k is used to finance his burgers and to make the monthly lease payments on his car. What a pathetic story but still made me smile. Thanks for the chuckle.
This discussion seems silly, at this point..... http://www.elitetrader.com/vb/showthread.php?s=&postid=2695758#post2695758
it was from the first post of the OP. Sometimes when it smells like sh.., looks like sh.. chances are high its ......... enough said
It would have been more fun if you hadn't demonstrated a basic ignorance of grammar and english, and included a subject...
Because you can't daytrade, nobody else can?? Lol. You don't know what you're talking about. Don't get in the way of others who might succeed where you failed. And no, I won't tell you my broker or account value. Will you demand audited accnt statements next ?
I've never day traded, so no I haven't failed. I make too much money in my career to walk away from it for a profession that has a 90% failure rate. And I've never said that you can't day trade successfully. Obviously it is done by many. However averaging 3%/day *consistently* (let's say over the course of 2 yrs) is just another internet claim that can never be backed up. I just don't believe you, that's all.
Anyone that tells me that they can average 3% per day consistently is full of crap and I am a profitable daytrader.