Well there is normally 200 trading days in a year. Clearing $500 a day on average is 100k and $1000 on average is 200k. Seems very reasonable to me.
Hi dinoman, You are a good trader. Do you have to do a lot of trade per day? What kind of strategies do you use?
You don't have too, but you can. The majority of the time I just use price and trend. I use size though and should really be making alot more. For example stocks like AAPL, I will take 2000 shares for 50 cents or a buck and then go goof off or take care of other business. Then come back later and try to get another trade similar on a group of stocks I follow. Instead of beating my brains out all day trading I have learned over time to be a better and more patient trader. My strategy never stays the same though for all good traders have to adapt and change their strategies all the time.
I think, for what it's worth, it can be done, but in addition to working capital you need a equally excessive amount of *perspective*. What I mean is that in the beginning, please have realistic goals in mind. Every business (which is what you are starting) has the deck stacked against them from day 1. I think largely it is due to worry too far down the road, or focusing too far down the road, that you overlook that very day, and each subsequent day thereafter. In this business, remember that "past performance is not a guarantee of future results". You have to bring your "A" game every day, and you'll have your good and bad days - even the guys on this board who claim to have consistent success. Having a daily number in mind will not only boost confidence, but will also create a bit of rhythem in your trading as well create DICIPLINE (this is huge) and an ever increasing bankroll. Remember, this job is about the journey, not the destination. If it was about the destination, then there'd be huge turn-over in posters on this board. Good Luck!
100,000 in a day is entirelry possible for a day trader.... if they are trading futures... much harder if trading individual stock due to lack of liquidity which would lead to slippage (obviously depends on the stock). It also depends on the futures mkt being traded... crude oil= 50 lot x 2.00 move= 100k 100 lot x 1.00 move = 100k.. crudes range lately is dbl this... however.. the trader can lose just as much in the same amount of time.. i would guess that some huge traders have made 100,000 a day on average every day of the trading year.. but i seriously doubt it was from intra day trading.. i thin you have to make 23 million a year to average 100k a day .. I know there are crude oil traders in the pit making 10K a day easy right now.. thats only ten cents on a 100 lot.. but 100k..and up easily doable .. but difficult to consistently repeat....100k a month .. now that is possible.. intra day and repeatable.. especially with the mkt moves we are seeing latley. day trade margin for 100 crude futures=410,000 100,000 barrels leverage= 120,000 uso shares (oil etf) crude avg 300,000 volume a day.. thats 3000 (100) lots
remember you have to take into account the fact that if you are trading with someone elses money you need to make 2-3 times what you hope to take home yourself.
Right on. I went the janitorial ( called cleaners here in Australia) route. Oh, the highs and the lows. Regards the question- when you have the answers, thinking about making $100000 is a limitation.
What kind of question is this? Of course it's possible. A day trader can be a bit of a misnomer. We just don't hold anything overnight. You can trade anything out of a shop these days. Equities, futures, forex, options, etc., Prop shops too, differ in what they offer. Some are strictly arcades, and others offer great services. Deals differ immensely from shop to shop as far as percentages, commisions and desk fees are concerned. Shop around.