I have begun to trade on a daily basis. 90% of the time I don't hold positions overnight and sometimes I will exit within 8 or 10 minutes if there is profit. I don't have a regular job, anymore and can be close to the computer all day. My question is what is a reasonable expection for daily return? I have about 40k in capital that can be staked. Is this enough to earn me a decent living. I have been reasonably successful to date, and I feel I am getting better.
4get it bro, unless u change ur strategy your pretty much doomed 4 failure. take your $$$ invest it @ 4% and take a job. good luck, triple
That depends on you. Are you succesful? All you have to do is see if you are making enough money. 40k is certainly enough for a good trader.
Thanks Bagger, I've been successful in many things. So far I'm doing pretty good, I just wanted to know if 40k could earn me close to my old salary within about 3 years. I was making around 130k/year working for others. I would like to earn about 70k my 1st year I'm on track for this. I just like feedback. I appreciate your comments. Scott
Scottie, How dare you question the Trading God. He has spoken. So let it be said so let it be done. By the way I missed what your trading strategy was. Of course on the other hand, the only limitation we have is self imposed. If you believe that anything is possible, well than anything is possible. From what you read in these forums, with that size grub stake you should be trading the emini's. If you want to support yourself, you must treat it as a full time job, where there is no boss to answer to, no payroll dept. that will send you a check every 2 weeks, no one else to pick up the slack..... Can it be done, I think so. Although I am not there yet. I believe. regards, Bruce Hawkins p.s. How many coins in a "decent living" Triple no disrespect intended.
Yes, its feasible to triple your capital in a year once you are consistent (not every year, but on the occasional year)... but to triple your stake every year once you are just starting out is not feasible... you need to firstly get through your learning curve, and the vast majority of newbies don't manage to successful emerge out of their learning curve... Your $40k must therefore both cover you for trading capital and living expenses of at least a year... with no salary coming in, no bubble mania in the stockmarket and a learning curve that you still have to get through, things will be tough... but if you can live dirt cheap, have a love for the game, and recognize that the probabilities say you will fail, then go for it... best of luck...
Scottie Don't listen to the negative idiots on this site. Yes, you can make that kind of money in your first year. I don't have a clue where these people get their statistics from, but first hand I don't see it at all. We have a guy in our office that has been up over 1K net more than 5x this month and he is in his 4th month of trading. Especially with 40K to start with. I am sure everyone will tell you to trade retail, but my advice is to go to prop shops around your area or travel to some and find an office that fits your personality. Lay down 10K+ with them and live off the rest while you learn. It is possible, I have and will continue to see it done.