I do remember a few traders here at ET that stated (*cough*) they had +million dollar trading day but they worked for a trading firm. In contrast, I don't ever remember any retail trader here at ET that trades from home...discussing their +million dollar trading day although I'll admit I have not read every single message post at this forum. Yet, lets forget about 2008 or any year from 10, 20 or 30 years ago. We are not going to see a retail trader (trading their own account)...in today's market conditions...come to ET and say they had a +million dollar trading day. Simply, if someone does say that here at ET...I bet they're at a trading firm. Thus, they are not retail.
ET is nearly nothing though in the spectrum of places a truly profitable trader would spend time. There are so many specialist forums, programming, math, economics.. I do ok but I'm only here as studying politics trolls gives me some mental relief from having to see a certain politicians face 20 times a day. Good distraction to bang out a post when waiting for a trade to complete. Those numbers can be done however you need to have the hunger. Reporting them here? pointless and risky to personal security. This year there was major day, also predictable from technical charts. Some made a lot of money.
You're adding qualifiers later on - must be within the last few years, must not work with prop etc. That wasn't the initial discussion. I think he is retail and not working for prop but I could be wrong.
Tangential and essential. https://www.google.com/amp/s/amp.bu...on-replaces-donald-trump-with-kittens-2016-12
Hi Al, sorry for the ambiguity. I meant real trades with a funded account, in that sentence ... they were tiny trades, just spot forex on a pretty small account, but that didn't matter. One thing's for sure: if you can't trade a small account safely and profitably, you certainly can't trade a big account safely and profitably! I'd done the same thing earlier on, many times, on demo accounts, mostly with absolutely dreadful, hopeless results ... but given enough time and practice and the slow developing of skills, they gradually improve if you steadily do more of what works and less of what doesn't work. But the ability to do that depends on both (a) keeping very good records and (b) being able to analyze them productively, which in itself is an "acquired skill". But I didn't trade real money until I'd (eventually) done what I described above - actually twice! - successfully on demo accounts.
Yeah, the initial discussion was sort'uv changed by someone else and then I saw your discussion...I then replied to that new discussion via being very specific about the type of trader I'm talking about. Retail perspective of a $1000 profitable trading day versus Trading firm trader perspective of a million dollar profitable day. Thus, I didn't want to make any generic statement so that others can get the two mixed up into thinking retail traders making +million dollar trading days in today's market conditions aren't going to be seen here at ET talking about such. Yet, I'm not suggesting nor implied it can't be done. I'm saying that if a retail trader is doing such...we aren't going to see that trader talking about such here at ET forum due to the nature of this forum. In contrast, I have seen a few trading firm traders come here and say such but those types of market conditions are long gone. Seriously, if you're retail and those unusual trading conditions showed up and you happen to nail a +million dollar trading day...would you come to ET and tell others about it ??? I wouldn't...I'll go elsewhere because this place is too toxic for that type of discussion.
I'd just end up hating kittens though .. and I'm a Leo so can't go there. This one is good however. https://www.business2community.com/...-donald-trump-tweets-childs-scribble-01782015
i think it’s best to focus on the process( of which, as someone earlier astutely pointed out, risk management is probably the most important component). plucking one event (one trade or one day’s profit or loss) out of the process and having an emotional reaction to it is, albeit human, counterproductive. i would cringe at a +$1k day if i knew the approach that produced it was flawed.
One thing that mystifies me a little is the idea that 'real' retail traders don't take large risks and it is all slow and steady wins the race with risk management. In business you take a chance at points in time. When an event like the February correction which was clearly signposted or a Brexit comes along and you have a chance to make a year in a night.. which serious trader who has a plan is not going to go for it? You will still manage risk carefully however there is sometimes very little risk for very much profit. And you feel very clever. The light comes on and I press the button trading is important but a retail trader does not have to justify the odd money orgy to a risk department full of pocket protectors.
i’m sure many people have done very well doing what you’ve described. there are many ways to extract interest. some go for base hits, others swing for the fences. whatever you do, heed the advice of Floyd Mayweather and ‘protect yourself at all times!’