Advice on how to make 5%/month on $1 million

Sounds quite esoteric and no trader I have ever met talks this much. Lots of desire for attention perhaps? Hard to say the story is bogus or not. Unless he is trading with play money believing he made 60% in January 2020 alone with a significant portion of his wealth at risk is hard to believe. Spx traded in a 150 point range all January which is about a 4.5% range

 

Do you know who he is? He is very well known and been doing this for years.

 

And this is relevant to my point how? Well known on Instagram? I don't have Instagram. On YouTube? I don't watch anyone trade on YouTube. So, no, I don't know who that is. But that's not important. How did he make 60% in January before any of the volatility kicked in?

 

Because he’s not one of the Wall Street Bets YOLO guys. He knew what he was doing.

 

Really? 60% return with a major portion of his wealth at risk in a month with a 4.5% total range? Lol, sorry but I find that extremely hard to believe. Possible? Sure. Likely? No.

 

I think that too many people focused on describing how difficult it is to make 60%/year, vs how difficult it is to make 0%/year.
Many of the already small number of successful traders written in books and interviewed on podcasts like Chat With Traders, talk about how they’ve blown several accounts and lost everything before starting over and becoming successful. Even some hedge funds have blown $billions and closed. While being lucky and making 60% in any initial period would make you so confident and complacent you’d practically guarantee your own demise.

 

Great article, but that guy runs a trading firm and has 30 years of experience. Trying to promise someone new to trading that they won’t even lose money, can do more damage than good.

 

You cannot lose money if you do not sell at a loss. Chew on it, man.

 

Before you can judge on this article you need ALL the information about every trade he made.
You need to have the impact of each trade, the distribution of the profits, etc...

I see that he made huge profits on Tesla. What would be his result if we would remove his best and worst trade? These two trades can make the whole difference between average and above average performance.
You cannot make any decent analysis on what is mentioned in the article.

And how much taxes he paid? Because the NET result is the only thing that counts.

 

Heed this! The more you make (in reality or in unicorn land) more you risk! In the long term, you will face this! There is no way to get around this so wake the fuck up and smell the coffee!