I don't know if this is an odd question or not but I was wondering if any of you could honestly tell me how much you make in a day when you are trading? The reason being I'm doing all sorts of predictions in my head regarding this stuff and I'm going to be getting a part time or full time job soon somewhere so I can earn money and top up my trading account as I go along. What kind of daily income could you look at when trading? Obviously it's going to vary a lot because of the win/loss ratio and the leverage you have but I'm just really curious now.
I would recommend you just browse the Trader P/L thread to get some #s: http://www.elitetrader.com/vb/showthread.php?s=&postid=2557056#post2557056
Depends on- *How much you money start with? *How much time you have to spend watching the chart throughout each day? *What market you trading? *How good you are at trading and making money instead of losing it? You start with £5,000 capital in crude oil, the market is dead at the moment with barley any movement or volatility so very very little money o be made, But if you are quite-very good a trading you can make maybe £200-£300 average per week.
What anyone makes per day is irrelevant. Whether I make $10 a day or $1,000 a day has no bearing on what you can do as a trader or how long you'll last. In addition, how will you discern honesty from BS? This is the internet where most stories really are BS, perhaps even mine What I will tell you is that I started full time day trading some 10+ years ago with a low 6 figure account. My initial trading goal was not to lose and to at least beat money market rates. For the most part I did that. Then I slowly started doing better. For the past two years, my trading has paid all of my bills and I have increased my net worth nicely as well. Of course, I had a very cooperative market. I have no clue whether I am as good as my recent numbers suggest or if I'm the Captain of the Black Swan. Nor am I wasting any time projecting what ifs. If MM rates weren't so low, I'd say that I could live with it if I dropped back to beating them. But I could easily live with 10-20% a year until the next big bubble. Maybe I'm the Captain of Low Expectations... Time will tell. And FWIW, my best day ever was just short of 18g on Sep 15th of last year, the day Lehman went under. As a non professional trader, that was beyond my wildest imagination 10+ years ago.
No. it's a self-selected group of traders=they choose to post. there are many others who choose not to post. I don't know how many, this is where you may be misled.
Depends on how much you have to trade Depends on how much leverage you use Depends on whether or not you are consistently profitable. This is what separates the 95-99% from the profitable traders. I would not rely on the P/L thread. You don't know the answers to the above, and there is no way to verify it is true. Count on 3-10+ years of huge efforts, losing tens of thousands of dollars in training, fees and losses, and maybe having less than a 1-2% chance of making a living, assuming you have tens of thousands of dollars to trade after all this.