All these super traders on forums making more real money than super traders , would they spend their time here if they could make 50 pips a day@ $100 per pip on 10 lots?
some one may be range or position traders and needs some distraction for a break; Sharing dos/don'ts are mutually benefitial while keep secret your edge; trader life is solitary and needs interaction with others.
that's probably based on an assumption that you are trade only one security at the time.. there 7000+ stocks out there. and they ain't moving in same direction all the time simultaneously
Amazing how many replies this gets. In case you haven't figured it yet OP, these kind of numbers will make you a millionaire soon. it would be naive to think this would be easy. If you decide to make this your career, you will be forced to do the best in your life. You will also have to find good help, such as a prop firm or successful mentor.
Frankly Don, I always thought that prop was for traders who already had a winning approach but were short on capital. Your answer leads me to believe it was for the complete novice yet that surprises me. As you can tell I have no experience with prop.
Do not try and make a specific dollar amount a day. You can only take what the market gives you. These percentages have not only applied to myself but 100's of traders that I have worked with. You make 50-75% of your annual profits from only 3 months a year. You make 20% from a single week or even a single day. Looking to make a specific amount each day sets you up for failure in two ways. It makes you inpatient to trade when you havent hit that number. Two, once you have hit that number you fail to let your profits run. Can a 50k account be turned into a 250k account in a year. Yes for an experienced trader. But it is not reasonable to extrapolate that return as your capital base grows.
scalability of what you see above is limited. it't keep diminishing over the time. screenshoot was made somewhere on the middle of this cycle. mastertrader456 +1 another +1
As an addition to that point, I think that IF the OP can find a strategy which works, his first goal should be to execute that strategy with 100% compliance to its rules. If the strategy really works, money will be a byproduct of that compliance.