Even your calculation is not correct. The US is not the only place on earth were traders live. There is also a world outside the US. All depends of your personal situation. Where you live can have a huge impact: In Monaco my calculation would be correct as they don't pay ANY taxes on trading at all. But living expenses would be much higher. Where I live I pay 10% on all my trading profits. In the US you pay a lot more... Thanks for confirming that the statement of making 1000K in 10 years is not realistic. Even in the most optimistical version without paying taxes it is not possible.
If you cannot put your finger on it it might mean that there is nothing wrong with it. If not you would be able to show the logical error. I just used simple and basic logic.
Wow! I like to meet that guy. I am happy with beating the index by a few % year after year. Of course I am just a mom and pop investor.
I take back my statement. I now see, after reading back and ruminating upon the thread and the context of it and with all variables considered that were mentioned, that you were referring to trickshot and his specific issue, and along with all the other bits taken into account as well, a ten-year return of that nature would be beyond magical.
5ok a day net each me and one other guy was my biggest day e-mini sp back around 2003-4. i called trades and he placed the trades on a tt platform. wore my ass out 500 a flip at member rates. toned it down to about 3ok a week which was more sustainable physically. but only traded about one or two weeks a month. now i am about to flip on full auto trading and become a hall monitor.
You at least making the real money, much better than those psycho that claim to make 300% return consistently for 20 year.
I wouldn't even consider trading for 10% a year, it would not be worth my time... And my time is the most valuable commodity
If you can even not read correctly, you will never be a real trader. Can you tell where it was posted: 300% return consistently for 20 year. I cannot find it. Especially the part "for 20 years" seems only to exist in your imagination. You read like Surf.
First read this article and then my remarks about trading. http://www.oregonlive.com/portland/index.ssf/2017/02/meet_the_portland_teen_might_a.html Comment on the article: the smartest scientists all over the world cannot find a cost-effective way to take the salt out of ocean water, so that we can use it. But a young boy, who had the insight that others did not have, solved probably the problem in a very simple way. Having the right insight is apparently very important besides of being smart and insight can even compensate for lack of intelligence. Comments on discussion about trading performance: I think the same applies to trading. The most neglected things a trader needs to become successful is insight and out of the box thinking. I started like all other people with gathering wisdom about trading. I was hoping to make 1 point a day in the ES. It looked very easy when I watched the charts. But reality showed that making that point was not he problem, but the losing trades were. Keeping the profit was the problem. Consistency! After many years I did make net 1 point a day consistently. So I thought that I reached my limit as I reached what was before unachievable for me. I could not believe that other traders could make 3-5 points a day consistently. The years after that, I continued to study and analyze. To make a long story short, I got insights in trading that apparently most don’t have. Whereas 1 point in the ES was almost a miracle years ago, it is now small money and I understand now why it took me so long to make real money. I missed the insights that I have now and that I did not have before. Thinking out of the box was essential for having results. Like the boy who found what the smartest scientists of the world were not able to find. He analyzed all details and based on that found a solution. Apparently nobody ever used the fact that 90% of the sea water is not bonded to salt. Or maybe nobody even knew that? Insight and out of the box thinking. That explains also the eternal discussion on ET. People with different knowledge and insights discuss and they both are right. But only from their personal point of view. For them personally what they say is true, but people with less (or no) insight can never understand that what for them is impossible might be possible for others. Tribes in Africa or South America can also not believe that you can take a small plastic box in your hand and speak with somebody who is on the other side of the world. And there is even no cable that connects the 2 phones! Message for Trump: this boy is one of those that are building up America's economy, although you want all of them out.