day traders please explain to me

Discussion in 'Trading' started by chipper, Apr 7, 2008.

  1. chipper



    Can you tell me what is reasonable % monthly return to expect day trading stocks?

    No hype please. I do not believe you can make millions overnight no experience.

    As a business. Tme, effort, education, experience can you make %+ per month on equity? Or am i still being unrealistic?
  2. chipper


    I know a day trader, he trades penny stocks and makes 30%+ per month BUT he only trades with a $25,000 account.

    I'd rather make 5% on a million + account my-self.

    Is 4% to 7% per month realisitc?
  3. chipper you don't need to day trade to achieve that - you can do it position trading.

    But regardles of day trading or position swing trading - it depends on your skill. I can easily get +10% pm on a big account; you could easily get -10% trying to do the same... if you're not too bad of a trader!
  4. If you have no idea what to expect in terms of returns and want to put up a mill of your own cash to trade... I would say kiss that mill goodbye.
  5. How about some negative hype? 1-3 years minimum requirement to learn to daytrade consistently. Sometimes I hear 5 years but that seems to be the high end. You almost never hear of anyone who "gets it" in under a year. You just dont have the experience nor the speed to keep up.

    Been daytrading 8+ years, took me a year and a tad to "get it"

  6. Fine, I'll start. You don't generally care about percentage returns when it comes to daytrading, there are too many variables that will affect your absolute p/l range, such as what stocks are you trading, how many shares per position, leverage, time frame etc, so if you want to risk more to gain more, go right ahead there is plenty of liquidity for the most part.

    For 1MM capital and unlimited share size, you could probably get the +/- up to say 10% each day easy, trading the more volatile names. What decides if it's more '+' than '-' is your own ability.
  7. 1% a day.
  8. You wish :D
  9. Is true. See Joe Doaks' new thread in strategy trading. One trade for one minute made $35 on $3875. Kiss my ass, BTW.
  10. If you can make 3% monthly consistently and with low drawdowns, over extended period of time (such as 10 years), you'd be the super star. This will beat the performance of 99% of all the mutual funds, hedge funds, and most of the individual celebrity traders. You'd be featured in the Time magazine, people would recognize you in the streets, and Goldman Sachs and Renaissance Technologies would beg you to manage their money.

    If you can make only 1% monthly consistently and with low drawdowns, you would still beat 90% of the daytraders out there. This includes all the clowns in this thread who claim to make "1% to 10% daily easily".

    Trading is a business. You may as well ask, "How much can I expect to make if I start up a software company?". Well, you can become the richest man in the world, but it's far more likely that you will not last even one year, as 70% of all small business startups fail in the first year.
    #10     Apr 7, 2008