Advice to make $3K/month trading

Discussion in 'Trading' started by Evermore2017, Sep 20, 2017.

  1. Based in your experience:

    -Minimum capital
    -Instrument
    -Strategy (daytrading/swingtrading, etc)
     
    murray t turtle likes this.
  2. Minimum capital and instrument and strategy are all kind of irrelevant,
    I know that sounds kind of weird to say, o_O

    You should instead focus on your ability (or lack thereof) to predict/trade/manage the future.
    Say that out loud and think about that sentence everyday. over and over again.

    If you are really, truly good...You only need a small $100 seed capital to grow to a $300,000 acct.
    And likewise, if you are really truly Bad...you will need a 2 million acct...to generate $3k/month.

    I find it weird when someone says they want to make only $3k/month, for example. That's like saying you only want to kiss a pretty girl four times a month. I think your expectations and assumptions will change relatively quickly depending on the variables and circumstances of your situation.
    Why cap or limit the future with a specific number or amount...you don't know what the future holds, for better or for worse,

    As soon as I can afford a new laptop from trading...I will be So happy and satisfied with life.
    Then that scenario changes to a fancy watch. Then a fancy car. Then a fancy girlfriend. Then a fancy house -- the chain reaction never ends,
    It doesn't matter if you're a dime a dozen piker trader...or one of those ultra rare people who grow into over five million...it's the same concept,
    Nearly every man or trader in history has gone bust chasing the almighty dollar,-- study all of them, and hopefully you will see your light and find your place,
     
    Last edited: Sep 20, 2017
    MACD and Visaria like this.
  3. dealmaker

    dealmaker

    All three are irrelevant if you have not developed the prerequisite trading skill. Trading is not a skill learned overnight, rather over time. Read books, attend free seminars/ webinars, find a mentor (free) develop a theme and then worry about how to make $3k/ month.
     
    Last edited: Sep 20, 2017
  4. Xela

    Xela


    How does knowing the answers to these questions based on my experience help you? How you can do it depends on your experience and skills, not on mine.

    (By the way "swing trading" isn't a counterpart to "daytrading". There are plenty of intraday swing traders, too. "Swing trading" is a style of trading: the term isn't related to time-frame. This widespread misunderstanding is generally cleared up on page 1 of swing trading textbooks such as Alan Farley's authoritative one, The Master Swing Trader, if you want to take a look: you'll find the relevant explanation in the part of the text available to inspect in the free preview on Amazon. I'm specifically mentioning it not to criticise in any way, but to illustrate an example of the reality that learning from good books tends to be much more helpful and promising than depending on forum and other online chat as a "source of materials" for the reason explained in this post.)
     
    Last edited: Sep 20, 2017
  5. IamBlaze

    IamBlaze

    Mate, this is not a f*****g cash machine where you just put in your parameters and get 3k a month back. If I had a penny for every time I heard a question like this, honestly, I wouldn't need to trade. All of these three parameters don't matter or don't matter much because if you go into the market with such a mentality you will blow out your first account regardless of how much money you put in. The instrument? Well, doesn't matter either. Why? Here are all the instruments listed with the increasing rate of money loss: Stocks, Currencies, Futures, Options, Trading like a bellend. Strategy? oof. ok. Day trading will make you broke very quickly. On a serious note, if you are just starting out try position/ swing trading as it will give you more time to learn.
     
  6. very interesting: starting capital is irrelevant, strategy is irrelevant, instrument is irrelevant...

    The only we need is skill

    [​IMG]
     
  7. volpri

    volpri

    $10,000
    Daytrade
    ES or Nq
    (Average Net 3 points in ES per day after comm and losses or 8 points in Nq)
    No overnight. Flat at end of every session. Use PA strategies. PA stop losses. Max 2 contracts per trade.

    All my opinion.
     
  8. 777

    777

    What are PA strategies? What is a PA stop loss?
     
  9. qxr1011

    qxr1011

    just present would be fine
     
  10. volpri

    volpri

    Price Action
     
    #10     Sep 20, 2017
    777 likes this.