Ahahaaaha, man, this is funny. So you think PhDs are smarter, better traders? That's funny. Seriously, why do some of you people compare annual % gain potential of small retails with those at the Wall Street? It's simply not the same. Strategies involved in playing the market with MILLIONS of dollars vs TENS OF THOUSANDS of dollars are very different. It's MUCH easier to average 10% per month with $20,000 than $20,000,000....
He did it to ask other traders her at Elite Trader what their experience was. Trading is a very isolated activity (most of my friends don't really understand what I do, and cannot comment on it based on their own experience), and access to other traders is not that easy to come by. At its best Elite Trader is a place, a Community Hall where traders can come together, talk shop and share their ideas, trading concepts and understanding. While that most definitely does happen, its become all too rare these days. Good Trading, JJ P.S. ... and he didn't just do it without offering something up as well. I've also found that combing Swing Trading with Day Trading to be a rather optimal combination, both psychologically and financially.
Ah, I see... forget my question. You know from your experience on the simulator for the last 2 months it's possible.
Problem is 300% on 10k it's difficult but no need for stevie Cohen, 300% on 10 billions you need God in person...what seems to be missed it's 30+% on 1 Billions is more like saying returning 1000% trading your own account ...
If one can make on average 1.5%/day (I say nothing about whether it is actually possible or not), it is very easy to avoid "risk of ruin" altogether. Just withdraw the original invested money after your first 100% gain (47 days on average). Even if all the remaining money in the account turns to zero, you lost nothing => no ruin. Or trade with half the sum. That way the return would be "only" 2000%, but drawdown is guaranteed to be less than 50%.
Kevin, what's up with that period at the bottom of all your posts! It's driving me nuts! I keep thinking it's a speck on my screen. :eek: .
First of all, why would anyone compare their trading to anyone elses? Trading is individualistic. Styles, tolerances, instruments, goals, systems, etc. Second, as I said, large accounts can't concentrate, they must diversify, and because of size, they don't day-trade. Even if they do daytrade, it would only be a very small portion of the total portfolio. Percentage returns from daytrading would be insignificant in reference to total portfolio. Based on diversification, I concede it's less likely all positions go awry. But I'm flat at eod, everyday. And on any given day, my total exposure to market risk is usually less then 3 hours. I trade all day, but few trades are held longer than 20m. Based on market exposure, less is better, imo. Third, I go for 300% per month!! Not per annum. 8% (80$) per $1000 of account value per day. And I don't care if it comes in 1 trade or 100 trades in a day. The key is concentration, not diversification, and risk management. I intentionally rebalance my account to avoid the pitfalls of large... I'm not trying to be Simons. BTW; volente wants to bet he can take 4K to 19K in 30 days. Knowing what I know, it's a suckers bet. Comparing yourself to other traders makes you delusional.
Exactly, JJ !! I think if you read my last comment here I specifically said that I knew I originally asked this as a question but I was really more or less trying to start a dialogue with others and get their experience.
Whaty type of trading are you doing with the sim? Scalping or swing? How many trades per day? What was your biggest drawdown?