...and that's what I've been trying to tell him. I really don't think you can extrapolate results of 60% per year unleveraged to 600%+ per year leveraged, but for some reason he thinks he can. ...and BTW, thanks for not recommending AAPL or BIDU with 100% room to go UP in this thread j/k
"Do you guys think that it's enough capital to achieve this goal?" NO, HELL NO. Just do the math with the "expected/required" rate of return, he could own the market in short order. He could "gamble" to make a short run and increase his capital exponentially but to try to do this on an annual basis for an annual income probably is not in the cards IMO. Joe.
ATM, I don't think it's his intention to "own the market", just to pull in 60-100K a year. I'm pretty sure that liquidity isn't an issue when you trade 5-50 contracts or even more.
Market's open, and I'm gonna be busy, but just a heads-up. Don't take futs advice from guys who don't know how to trade'em. Now, you can take that as you will. JJ
And why oh why would he abandon that? 60% returns with no margin and low drawdowns. Using $100k (he has more you said) and 2:1 margin that's about $120k in stable (you say) income. My advice: stick to what you know and do well and enjoy the nice income and don't spend it all so you'll compound the capital base.
If you are trading futures like ES YM or even NQ you don't need 30K all you need is $5000 if you can trade.
and this guy trades every day one trade a guy can make 60% return and still have full time job outside the market
You don't need to trade full time or spend 7 days a week or work 'very hard' like those brokerage firm managers tell you.