As you have probably noticed, ET is seperated into two camps. There are the people who have "done it" and the people who tried, didn't, and now believe it's not possible. For whatever reason, the second group likes to try to convince the first group what they have done is not possible. Often. Jack has incessantly tried to get people to consider the market's potential. In whatever instrument you trade, calculate how much money changed hands on whatever day. Another way of doing this is Jack's "crayola test" (I wonder how many people have ever actually done this... anyone???) and start at the beginning of the day, trace the path price takes, and figure out how much you'd make per contract for the day. This is what's possible. Now, what is humanly possible? Your only job is to clear out all the crap that prevents you from getting to that place. There are some people who should not be listened to here. Some lines that automatically turn off a poster for me are: "If you could make [blank] percent a day (fill in the blanks), you would own the world in x amount of time". Isn't it obvious that anyone who says this has never been profitable?? The original question was "Is this enough capital to achieve his goal?" There is only one answer. Of course it is. There are literally thousands of ways he could turn that into a fortune in a very short amount of time, in plenty of different intruments. The question isn't "does he have enough money", the question is "does he have enough knowledge". TNG
How does a person, any person, demonstrate mastery ? Simple: by being tested. I am with jack, and jimmy, and thenewguy along with the rest of those who believe that the op's friend must simply try. Because success belongs to those who do, and because putting the thing into motion is the only way to truly find out. The risk is there, but so is the return. I have traded futures for almost 17 years. When I started, everyone i know proffered unsolicited advice about my likely future. I would fail because: insert your reason here. I am sure some of them were valid, yet, I am still here, and would not do anything else. I wish your friend success ... I am quite sure he already has sufficient numbers of people explaining with great wisdom all the reasons why it cannot be done. -bazi
"Is it possible for him to make a living with a 30K account?" The above was the question. Almost anything is possible but IMHO, this is not enough money. I couldn't put a number on it but I would say that the probability of losing the 30K is much greater than the probability of his making a living with the 30K. Now, whether or not he should try is a different issue. Joe.
You raise some very interesting questions. The answers are intriguing as well. Good luck. It mostly has to do with poor IT.
I agree with the above. Making 60-100m per year in income starting with 30m ain't happening. The problem is the objective: The income. Ain't happening. I'll gladly give 30m to a good trader who will generate 60-100m per year for me in income! LOL!! I don't even care how much leverage he/she wants to use. It's the fact that if they can get me a 300%+ return on my 30m by the end of a year's trading with them, I'd do 30m in a New York minute! Fact is, it ain't gonna happen. Not CONSISTENTLY...
The reality is that each of these questions has a very logical answer. You'll probably never know them until you set foot in a place that makes money and you ask them how they do it. You're not going to believe me though, and that's ok with me. One thing that I did find fascinating, however, is your approach to my comment about what the market offers. Can you not see the difference in what I was talking about and your reply? I'm talking about what is actually there, every single day, day in and day out. Look at the screen man! This is not the teletubbies hour, you are correct. All I did was try to get you to consider the potential, and you come back with talk about going forward in time, and going back in time... Why on earth would any trader not start out by thinking "ok, what is actually out there for me to take?". By taking your approach you are automatcially limiting yourself before you have even started. So if you don't consider what is theoretically possible, then what DO you use as a benchmark? Anything over 0 is a great day? I wish you the best of luck sir, I don't understand how anyone with your outlook on the markets can be successful. TNG
Here is the answer mathematically speaking: It is possible, supposed his strategy works the same with futures. Of course we don't know how much he needs to make a leaving, thus let's suppose he is a single guy and can live on 50K a year... So the question is, can he make 50K starting with 30K if he was able to make 60% gains with stocks? Of course with futures everything is about leverage, so if he chooses the correct leverage, he can replicate the 60% stock return. It is basicly 140% on his starting account, but that just means he needs to use more leverage.... Let's go further: 50K (goal) / 250 (trading days) = 200$ per day If he is using 4 cars, he only need to do the proverbal 1 ES per day. Let's say he is not that good, so he could use 8 cars and still not be overleveraged and he only has to make 1/2 ES per day....