You're confusing me. Who do you think you're responding to now. Yes, I do have a few trading accounts. The quantity of trades doesn't necessarily qualify you as a trader. I would suggest however, if your goal is around 10 to 12%/year, you might be better off putting you're money in a couch potato portfolio and forgetting about it. After all, there are many other things that you could be doing with your life that would make you a better and more positive individual.
What is more realistic is a (semi) retired guy who saved up a decent amount and starts out with 2-300K and makes a decent 20-30% supplementing his retirement. Or hell even 10%, anything beating the market is good. But the point is, account size does matter. You have less pressure, more chances to diversify, and if losing, more time to recover...
Only on Elite Trader does someone with a seven figure account get lectured by someone with a $10,000 account. You are not a Pretender just a Dreamer. Mtrader is the Pretender. I wish you the best of luck. Someday I hope after more repeated failures you can set about developing a realistic trading strategy where you can compound your capital into seven figures.
As I said, that's what I'm doing with my long term investments. The 8K trading account is just play money. I'm not up to seven figures yet, but by the sound of it, I'm younger than you. Even if I couch potatoed my current investments for the next 20 years, I'd be well into the 7 figures. By the way, I am not lecturing you about your money; I'm lecturing you about your rather condescending and arrogant attitude.
I don't like the idea of a larger account allows me more time to recover. Good traders dont need to recover, they manage their risk, keep their daily losses and drawdowns to a minimum and maintain profitability. I actually like the pressure, the pressure teaches me to be sharp at the game because I'll need to be sharp to survive.
I asked Baron for this site feature a while ago... That it would be cool, if there can be a mouse hover function...that would quickly show historical, real, verified account performance (i have no idea how feasible or how to logically implement that...but that's his job. it's his site) That way, you can ...separate the wheat from the chaff ...in this forum.
This is the title of this thread: How Realistic? $50k account, $500 / day We are discussing the RETURNS that are achievable. It was also clearly about a 50K account. I asked your RETURNS. But you diverted the discussion to account size. It was about RETURNS not account size. Showing your account size doesn’t say anything about your performance. Money can come from anywhere. I say clearly: 1% a day is easily achievable. But this is only a real performance if the returns are consistent. A losing trade or day is not a problem as long as the account gets a 250% return on the starting capital. So 250% net in 1 year, on starting capital is a piece of cake, that’s what I say. I know people who have even 8 figure accounts. Two of them ended up with ZERO figures accounts. The first one made millions in business, and thought he could do the same in trading. The second one inherited his money and wanted to show that he wasn’t a no-good. Both could show me they were supertraders before they blew up, at least if they would have done like you: show their account size. Account size means nothing. Performance does. You have no clue about my account size. You even don't know how many accounts I have. Best is to keep it that way.
I would never participate in that, like most profitable traders I think. Even if it would be 100% proven, bashers would still not believe it. Besides, what is the benefit for those who publish? I once published records, apparently with too much information still visible, because my broker told me people contacted them trying to find out who I was. The reason for that was very clear. I became more cautious after that. Publisher have nothing to win, they can only lose.
I would agree that winners won't feel the need to prove it to a bunch of nobodies on ET. Having said that, I think my choice to report my progress on my most recent journal thread actually improves my chances of success. It will help me to stick to my plan.
Me neither, but on a 200K account, you can take a 10K loss, on a 10K account, you can't.... And as I said with a big account you can do different strategies with different risk/returns and different instruments. A small account is very limited in every way...