this, imho, is an excellent strategy. learn a few stocks extremely well, plan your moves, and cash out when you hit your numbers. i do this with AAPL, GOOG, BIDU, RIMM, XOM, and a handful of others, i maybe watch 100 stocks on an intraday basis. POT being one of my favourites. brilliant.
It's a relatively easy strategy that works and doesn't take a great deal of time. Many ways to skin a cat, I'm sure you have good ones as well.
yes, with that i agree. but you do have to realise DB has access to virtually unlimited capital, versus one of his rookie traders trading highly restricted on minimal deposits. like all strategies, it has to be taken in context.
I would say that $300 to $400 average daily profit on a $50,000 account IS reasonable... Provided that you don't lose more than $175 on your down days (2:1 reward-to-risk ratio before commissions and bid/ask slippage). Breakdown ------------ 252 trading days (assuming you are not trading FX or futures during the weekend) * 50% win = 126 days profitable, and 126 unprofitable. 126 profitable days * $350 = $44,100 126 unprofitable days * ($175) = ($22,050) Net profit (before commissions, slippage, and taxes) = $22,050 = 44.1% ROE on your original $50,000 = $1,837.50 profit per month on average = $22,050 / 52 weeks, or $424.04 per week = $424.04 / 5 days, or $84.81 per day @ 8 hours of screen time per day = $84.81 / 8 = $10.60 per hour Some might think that is crummy, but it all depends on the person. $10.60 hourly from home is not a bad deal for a beginner. This will allow you to build up a track record and mental fortitude to be able to stay trading for a long time, and send out resumes to (legit) prop firms. They like consistancy. And if you are using at least SOME automation (i.e., trailing stops... assuming you are not a high frequency scalper) then your hourly rate would be higher while you go workout, lol, but the annual profit would obviously be the same.
When I started trading spot FX 4 years ago I gave myself exactly same questions that now are definitely not the ones I should have asked myself ever in first place. First learn to beat the odds before the odds beat you. As I haven't gone through all of the posts in this thread I can say that you can't and won't make 1% every day without having a solid edge. If you have been trading before and made dough then my apologies, if not then in reality you have no chance to beat the market. It just doesn't work this way. Trust me on this. I'm here to share my experience and help those who want to listen My first post in 3 years so a big "Hello" to everyone!