He didn't say he was compounding (did he?). I'd guess he just pulls his profits every week or two and maintains a relatively constant account value. 1.2% a day of a $25000 acount is only $300 a day. Certainly possible.
I wish it was compounding at that rate. Just 1.2% ($240) of my initial account size ($20,000) per day.
Take out a loan for living expenses, borrow on credit cards or sell your children. Do whatever you have to do...but just compound that shit!
Kastro_316, One of the key factors in how much you make is how much you can risk. Example: Seanote (who I think most here on ET would consider a highly skilled trader) traded, according to my calculations, $621,845.00 worth of stock today. His total earnings was $7,165.00-- all winners, one flat, no losers, an exceptional day for anybody. That works out to be a 1% return on the money he put at risk. Size is the key. If you're under capitalized you'll just be treading water at best.
Yes, and that was on an "exceptional day for anybody"....to AVERAGE over 1% a day? I guess my mistake has been NOT to trade part time. I figure if I traded 5 days a year, instead of 200+, maybe I could have had an average like that. One very lucky super day...maybe an upgrade, takeover, something like that while holding. Done. Now I just have to tread water the other 4 days, and BINGO! Track record established for the year!!(Then worry about next year) WAIT!!! Now that I think about it..... could be I averaged 100% a day when I was last in Vegas playing blackjack for a few days.....can't remember if it was positive or negative though :
What's the odds of having "an upgrade, takeover, something like that" happening on the first of your five trading days after you have already taken a position?
"i don't know how much smarts has to do with it. not too much, i hope." Not to worry. I am living proof that intelligence is not required.