This is too easy, LOL. Many people with $50k, who go with a pro firm, can use $500k or more...much easier to make money with good, solid strategies, when you have access to more capital. Actually lower risk, higher reward in most cases. Don
Right, so long as they've overcome the first hurdle, which is having a consistent positive expectancy strategy. Then, if you've either got a large account to trade or can trade with enough leverage, you can make $500/day average. Still, you don't see a lot of traders making over $120K/year, regardless of account size. Again, I would guess that the number is less than 5% of all retail traders. I saw some data on this years ago, but can't find it. It kind of looked like you would expect, with a small percentage of traders accruing most of the gains there were to be had from day trading.
I wasn't worried about how much was in his account, I was worried about the amount he wants to make and how that stacks up relative to what we know about the distribution of day trader income. The IRS data I saw years ago showed that very few traders make an average of $500/day, regardless of the size of their account.
you sound like one of those prop traders who don't even know how much is in your account or what your ROI is.
To put this to bed. Expecting to make $120,000 a year from a $50,000 is extremely optimistic to say the very least. If you could make $5,000 year after year then you can count yourself skilled. If however you can generate a 1000% plus return each year then it wouldn't be 5 minutes before you are offered a $1,000,000,000 trading account to manage. Don't fall for the hype that has been spewed in this thread by a certain few.
Interesting question, for sure. I'm drawn to the saying "if you can't make it here, you can't make it anywhere" (yes, I know it's a juxtapostion from "can" to "can't" but you know what I'm getting at). It's much harder to fight all the inherent obstacles of retail than to attempt success with a professional firm. Don
i give up. im pretty sure this post has officially made me quite elitetrader. thanks everyone. happy trading.