Discussion in 'Psychology' started by profitplay, May 30, 2006.
How long did it take for you to be profitable in daytrading?
took me 5 months trading at .0125.
Most of the traders I know it took no more than 6 months.
You will get a lot of people sayins BS and that it takes years and yada yada.
Guess it just depends on your style, your training and your aptitude for trading.
when did you start trading?
Profitable is from ZERO above,..
How about a good enough income to leave your job, say $200K plus.
Day trading is for dimes, position trading is for dollars.
Must define profitable...
You may get some noobs paying high rates scratch out a $100 winning month and think they are profitable.
How about profitable being $200 per day, 4k month on avg?
That's a BS assumption, but very prevalant here on ET. I know not one, but several that make those kinds of numbers and more.
And to the other posters. I consider profitable enough to make a living.
Whoever thinks you can't make 200K a year scalping isn't doing it right.
If after 5 years of trading and I was only making 4K a month, would be doing something else. Who can earn a living off of 4K a month?
Its taken me close to a year to make somewhat decent money. Went from being negative a few months, while learning the markets to trying a few different things that was neting me 3k and now this month I have refined my trading style to net 12k for myself and we still have a day to go. Like it was said before you have to define profitablity, to me its a quarter mill. I haven't reached that yet, but thats my goal for this year.
Lots of people. If you have paid off your mortgage, have no car payments, no credit card debt you can live on that amount. And if you have a wife who also brings in some $$$ that creates an even better scenario. In fact, you can easily save $$$ and not be like the "average" person in the US who has a "savings rate" of -1.6%.
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