$5000 day, Is that what you would consider a good day?

Discussion in 'Trading' started by traderich, Feb 17, 2007.

Would you celebrate a $5000 day trading?

  1. Yes, a 5 bagger is a huge day!

    76 vote(s)
  2. No, a 5 bagger is just an average good day

    24 vote(s)
  3. No, a 5 bagger is nothing at all

    19 vote(s)
  4. Yes, a 5 bagger is enough to celebrate about!

    24 vote(s)
  1. I am curious what everyone on ET considers a good day of trading.

    What would be a good day of trading for you?

    I am talking about a day that makes you really happy. Enough to go out and celebrate. One that would make you say, WOW! what a great day I had today trading.

    I used to think that $5000 in a day would be incredible, but now that I have done it quite a few times, I am beginning to wonder if I am losing touch with reality.

    When I worked as an engineer, I remember thinking how great it was when I got a job paying $65,000/year. Nowadays, I think of that as too little money for all the corporate bs.

    So, let me know what is a big day for you. I am curious if I am completely out of touch or maybe there are guys who are pumping out some much bigger numbers.

    By the way, I am talking about PCR,PYX,MOS,MH, PKG, and FBP yesterday. Bought in for 200,580. Sold for 205,780 MOC.
  2. lwlee


    $5k is an outstanding day by any measure. If you could average that over a full year, you taking in $1.25 million.

    If $5k is one of your best days, but say you average $1k-2k per day, then you averaging about $250k to $500k a year. It would put you in the top 5-10% of traders.
  3. That's outstanding TR!
    I remember about a week ago you had a $2500-$3000 day,
    didn't you?
    I guess the big question is, how have the day's in-between the good days been?, particulary the losing days?
    If your good days are far outweighing your bad days and your
    risk to reward ratio is positive, then you have a good workable
    trading plan.
    Another thing to think about is, will your trading plan work if the markets do what they did in May, June & July 2006?
    Do you have an alternate trading plan for a bearish change in market direction?
  4. the answer will be different for every trader, but the more important question would be "was todays PnL 5X, 10X 15X, or higher, your daily average?"
  5. K-Rock


    Happiness is generally a moving target, so keep shooting.:D
  6. The actual $ amount means nothing IMO. If I can consistently make 85.00 four out of five days then I must be on to something. Then I just up the size... Consitency and understanding your strategy is the key.
  7. I would say its a great day IF its from an action thats repeatable. If not, then its a lucky day. Either way,nice job!
  8. 4K a day gets you to the Million gross mark and that is a great mile stone for anyone to average daily on a few 100k account. Sounds far fetched but is possible in the futures world that is built into the products.

    Plus add in the Asian time zone and the Eurex market and you can do three shifts on the same account or 24 currency. This goal is reachable.
  9. buylo


    Easy on the trumpeting. This is your second or third dedicated thread to how great you are. Keep it up and watch out for blowups, for that is the Grail

    Trade humble
  10. To me Trading is yield on capital minus time. To improve you might think in net APR's.

    Larger net capital nuts to crack, make this ever so challenging..You end up finding yield and balance risk...in ever more creative ways...Bill Gates hires people for this. Keeping capital working for some, requires a staff of full timers...:)

    Michael B.

    #10     Feb 17, 2007