Attention: Profitable daytraders

Discussion in 'Trading' started by sunggong, Feb 21, 2007.

% of buying power

  1. less than 0.05%

    9 vote(s)
  2. between 0.05% and 0.1%

    4 vote(s)
  3. between 0.11% and 0.25%

    3 vote(s)
  4. between 0.26% and 0.5%

    5 vote(s)
  5. more than 0.5%

    10 vote(s)
  1. What % of your buying power are you averaging per day?

    ex) Averaging $500 per day with $1,000,000 buying power would be 0.05%.

    Thanks greatly!
  2. Only 8 votes?

    There's got to be a lot more daytraders that make money.

  3. A very limiting question, IMO. "Day" trading is just a small part of an overall trading plan. And, IMO again, we need to "use" $2-$4million just on the opening only programs, to make $1,000 per day.

    BP (Cash) is just a tool, it is the skill and the strategy that makes money. No reason to limit oneself by worrying about exceeding a pre-determined limit. A good mechanic with the right tools can work on Ferrari's and make big monrey, or use the same tools to change the oil on his old truck - it's the mechanic decisions that make him money. ("Fair" metaphor, not "great" - LOL).


  4. Don,

    I think you missed my point.

    Of course there are a host of factors involved in determining the performance of any daytrader. I'm not denying that.

    My point is that by asking such question, I want to get a very crude understanding of the level of "efficiency" at which these profitable daytraders can "work" their money.

    Obviously, most daytraders never fully use their buying power due to their strategies/risk management/etc. However, buying power represents that ultimate potential in which one can maximize their earnings.

    I just want to simply see how "efficient" other daytraders are in utilizing what they have to spend on a daily basis.

    If I'm making $1000 per day with $1,000,000 BP but someone else is making $2000 with the same BP, that could mean that my money is not working as hard as that someone else's.

    Of course, there are many other factors determining this, but asking for a % of BP gives a very high-level idea of where I stand compared to others in terms of how hard I am working my money.

  5. craneman


    Last 6 months take averaged out to about 0.41% daily of total buying power using the midpoint for buying power since it increases along with account size.

  6. I think you don't understand how this work. You should be mentally flexible to be successful on this business.

    With that said, if some people is making $1000 with $1,000,000 BP and other $2000 doesn't mean anything.
    The system behind the money made is the key as well how defended is the money on each case, anyway, how you take the BP on futures account?

    Anyway, if another guy on the "market arena" is making huge money according to his capital who cares, it doesn't mean that you're losing ground or you're doing something wrong.

    I personally leave 40% of my total trading money free for special situation.

  7. Who says I'm not mentally flexible??? :confused:

    If you don't care "if another guy on the 'market arena' is making huge money," then keep that to yourself. :)

    I'm looking to maximize my earning potential from the money that I trade with, and I just wanted to see how others are doing in terms of % of BP because that's one of the many metrics I use to gauge my progress as a daytrader.
  8. on average
  9. 70% on 1.5million on average