All the best... but my prediction is that this thread will be dead by summer because the OP's account will be down to $0. But if you prove me wrong, I'll hire you at 750k per year to manage my money.
50/50 split is too high. I think they only get like 5% for managing other peoples money. They have to pay the taxes on that also and pay the commissions. So after they are done giving you 50%, then they will most likey end up with 10%. Not very profitable if you ask me.
deviltrader All the best... but my prediction is that this thread will be dead by summer because the OP's account will be down to $0. But if you prove me wrong, I'll hire you at 750k per year to manage my money. ------- You can contact Mark Minervini from Quantech or www.markdcook.com To date author not observed any result better Your respectfully
JimmyJam Quote from phil1424: another dreamer good luck with it , your need it son . jake -------------------------------------------------------------------------------- LOL, stop being such a naysayer jake. Jeez man, myminitrading just gave the guy some really excellent advice. ---------------------------- Gentlemen If statement of Mr. JimmyJam was related to author ,it is false . Author speculated from real account only from money ,which won from different trader contest's worldwide . Contest entry wihtout charge. Would author not win ,would not speculate. More of them author have not demand for any bank account,any bank service ,only multiple broker's account's by pure agent of principal. In worst case scenario (author evaluated very possible) author would receive 1. Zero loss 2. Losed long -term he's time ,but that is as in any kind of another acitivities . Your respectfully
there's one huge problem which may have been mentioned, but i only skimmed most of the comments. if your account is 26k, and you have a few stopouts, you're below 25k. and then the asinine PDT rule comes into play. the amount of "5k off of a 26k account" sounds large until you break it down. 20 days in the month. target 300-500 a day. a 26k account can intraday trade104k worth of (marginable) stocks. so the goal is 3-5%, which is DEFINITELY attainable. and he's only trying to make, after losses, 250/dday. definitely doable. i' mnot commenting on his trading, psychological profile, or anything else. but that part is doable.
"the amount of "5k off of a 26k account" sounds large until you break it down. 20 days in the month. target 300-500 a day. a 26k account can intraday trade104k worth of (marginable) stocks. so the goal is 3-5%, which is DEFINITELY attainable. and he's only trying to make, after losses, 250/dday. definitely doable." ========== Good post gaj! I was just about to post the numbers. I don't understand all the negativity in this thread. Do people really believe it's impossible to earn $250/day on a 25K account? A simple gap or break-out strategy could earn this IMO. Perhaps I'm misreading the goal here, but, it looks doable to me also. Anyways.... Does the 5K/mo to pay the bills include taxes?
If you can make 25% profit every month, that pretty much means you'd be among, if not, THE most profitable trader in the world.... hedge fund managers, private equity managers, hell even Goldman Sachs would be tripping over themselves to hire you. A little too much wishful thinking here...
Again, I'm sorry but you can not compare. Its a different style of trading - a different world. You can not take a billion dollars and scalp it like some daytraders here that do make 25% per month.
Elite Trader is a great idea and a great source for the exchange of ideas amongst fellow traders. However, it is simply amazing to me how much negativity is abound in many of these pages. . The number of people who are readily available to shit on other people hopes and dreams, however fantastic and unreachable they may appear to the shitter, truly makes me want to never visit this website again. I am convinced that many, but NOT all, of the people who post on this website are guys/gals who have it in their mind that what they want cant be achieved because they are to afraid to commit 100% to acheiving their dreams or they did give their dreams a TRY and they failed. Anybody making a run at their own dreams and goals will be promply told that it cant be done. Maybe this website should be called EGO TRADE. I salute penny trader for putting his ass on the line in a public forum. Whether you fail or succeed, by your own definitions, your experience will be an opportunity for all of us to learn.