How much money is enough for you ?

Discussion in 'Trading' started by CALLumbus, Jan 4, 2012.

  1. CALLumbus


    Hi everybody,

    right now I feel that I start getting to greedy. I was mostly trading CL in the last couple of months, but if I want to make more, I need to focus on a market in which I can move more size.

    But then again I think if I should not just continue what I do now and be satisfied. But somehow I believe this is part of the human mind, the more you have, the more you want.

    I talked with some friends (no traders) and most of them would be totally happy and satisfied if they could have something like 5000 EUR per month.

    What do you guys (and girls) think, how much money would you need (per week or per month) so that you can say that it is absolutely enough to really live the life you want ?
  2. More.

  3. gmst


    It depends on everyone's current position/environment they live in.

    I am a contended man, and will be ok with 2000 USD a month to live.

    What I aspire though is 100,000 USD a month - and God willing, I will reach there before end of 2013, purely from trading income. This is only for satisfying my competitive spirit and ego - not real life needs.

    Hope it helps! :)
  4. mark_mm


    Before even going full time I would want to be making double what I earn in my day job, so I could still compound up, I don't see the point in trading but not compounding as long as the volume is there? As my account increased I would decrease my risk and return.

    The dream is to make a few swing trades a month on the bigger timeframes, but you need a huge account first.
  5. The late Charlie Wilson said famously "Too much is never enough." Many people thought he was talking about money.
  6. CALLumbus


    @ Sculptor: LOL

    @ gmst:
    Your long term goal is something I would also like to reach, but with my current main instrument (CL) I cannot do this (with my style of trading). If you want to reach such a monthly profit with very short term trading, you need a very liquid instrument, so you can move some serious size. But then again, you cant do everything in ES what you do in CL ...

    @ mark mm:
    I was also thinking about that, to start swingtrading parallel to my daytrading. It is a nice dream, because in swingtrading size would never be an issue, but I am just not good enough at it :mad:
  7. gmst


    I am good at FX, and to make 100k pm trading FX, I need to score 100 pips net in a month, with a size of 10 million. Euro spot can easily take that size, even with close 20 pips stops - no issues. Averaging, it means just 5 pips per day with that size definitely possible w.o slippage.

    Not sure how much liquidity CL has though and what size it can take w.o significant slippage.
  8. How much money to mek me "happy"?

    That's hard to say. But a rough estimate would be enough to have my needs met (house, gas, food, utilities, insurance, car and technology/laptop depreciation/replacement costs, etc.) not just for me but future GF/wife AND $5-$10K in annual toy/hobby spending money...
  9. gmst


    For moving to swing trading, it will have considerably lesser # of trades compared to day trading. Maybe a good idea to develop practice by papertrading it for > 1 year. This will give you enough confidence and time/experience to adjust to a different kind of trading. My 2 cents.
  10. CALLumbus


    gmst, CL is very liquid (I mean, its oil, lol), but for very shortterm scalping 10 contracts is sometimes already to much.

    6E (EUR/USD futures) would be an option, but I think sooner or later I will make the transition to EUREX futures. You can move serious size in FESX and FGBL, and the exchange fees are very low.
    #10     Jan 4, 2012