Nah, it ain't Don...unless Don is 29, with no college education but a supposedly "voracious" reader and "semi-pro" poker player (whatever that is). Yeah, it is West LA and he is likely overexagerating...but he does say he avgs $100k/day on the days that he daytrades when he isn't playing poker through which he also claims he can make 10k/hr doing. no worries folks, just thought I'd try to gain a little insight into what kind of capital/skills/experience would be necessary to pull that kind of mind-boggling performance off...though I know I'll never personally see it, especially as i will never be a day trader.
well.... its possible to have 100k days... ive had those.. except i preceeded to lose that the following day =(. but consistantly? solo trader? I highly doubt it, better be managing a hunded mil to make that kind of money on a daily basis.
I don't understand why the OP is asking this question. There is no way it can be ruled out, except by prejudice.
100k a day would be no problem for me with 100 million dollars in the bank. Sure it's possible but not for any extended period of time.
THERE'S NOT A SINGLE INDEPENDENT TRADER THAT AVERAGES THAT MUCH MONEY FOR MORE THAN 1 YEAR......AND THE ONE'S THAT HAVE MADE THAT MUCH IN 1 YEAR - THERE HAS NEVER BEEN MORE THAN 10.
Good professionals make significant money (depending on account size and risk practices) like this. If you do the math, figure about 180 days of work (200 minus August), you can see what the potential is.. A skilled person trading a decent sized account with strategies that have a positive expectancy is limited by the liquidity of the markets, ability to execute and logistics (ability to keep connected, IT management, etc). At this level, skilled professionals generally have support staff to help them. This means they don't miss many opportunities and if the staff is good, losses are held within acceptable limits. I would say that it would be highly unlikely for a retail trader. So in summary, yeah, good professionals can do this and more.
Its not really that difficult, if you know what you are doing. I have averaged $1K/day consistently on $10k day accounts over several months. At the end of each week I withdraw +/-$5k and start Monday with +/- $10K. It can be done. I do admit its not completely day trading - may be holding a day or two but not over the weekend