I don't have a 50k account and there's very few people here serious about trading, particularly day trading. Some of the ones that are, are also 100% focused on themselves, which have no issue with that can see why and that is there decision no one else's. of course. Point is that is why I post sparingly on these boards these days. At a point now where not interested in having ignorant conversations with people who aren't serious. Frankly it's boring and literally gives me a headache to communicate with 95% of people on here and I am not exaggerating at all. With person I am working with now, yes we have produced similar results to what I was discussing. However on a much smaller amount of capital. We are being pretty consistent and growing at a nice rate. As soon as we grow to and/or acquire 50k I'll be more than happy to send you the results, whether it is less or more than I stated. That's about all I can do. But again what's the point? Like do you understand I am here to make money? not to debate, be negative or positive or sit here and try to prove people wrong? That's a total of waste of time, it should be offensive to you as well to sit here and use your time like that. . The only reason I post on these boards was to find people that were serious about trading so that I could advance myself and them. Practically begged people, offered to meet in person even live trade in front of them. I've been very clear and up front on the issues I was facing and what was needed to solve them and finally found someone that is serious and seeing the exact results I expected. Trade well.
Because he had a valid question and at the time I wasn't in any trades. Also I have made some good contacts from this board as well, but have not made any good contacts here in over a year. I just explained why I posted, are you not clear on that or asking me to expand? If you're asking why I still post, it's the same reason. I was just saying the effort putting in for the return has not been there lately and it's just a bunch of people debating to debate. Why am I posting at this exact moment now in case you ask that, it's because we're just in a continuation long right now and there's nothing for me to currently do but wait.
6k a day on 150k account consistently of course is impossible if you're using your account size as an edge, instead of as a vehicle to trade more size with a purpose. no disagreement there at all.
For me, 0.5% is 1R. I sign for 100% consistency of 1R per day anytime. In a year, thats over 120% what is a nice return!
I think the key fact here is you have a second job which covers your monthly expenses. Another key fact is, how quickly could you get similar job like your current fulltime? Anyway, if you go with trading, good luck!!!
The point is there is no free lunch in markets and overall they are far more efficient then most realize. If the returns you are quoting were scalable and routine then a ton of people would pile into them until the "edge" is mostly saturated. I'd say expecting consistent returns on the scale you are already expecting is a recipe for either disappointment or failure. But only time will tell if you are the exception to that rule.
Efficiency, the way I understand it now, means that the markets are always correctly priced. For e-mini S&P futures that means for example that the cash index and futures are always moving in lock-step due to index arbitrage performed by computers/program trading. And I have not even mentioned SPY and the options markets that are related to the index. Regardless of that, there's clearly a lot of loose change in the indices these days - meaning there's good ranges and good moves on a daily basis. If you look at the daily range this week - the average daily range was 55 points. Let's say a skilled trader can capture half of that. That's 22.5 points on one contract for a gross total of $$$ 1125. Or 11.25 points (a quarter of the daily range) on 2 contracts. 1-2 ES contracts on a 50K account isn't a great deal of leverage if you have any skill at all. So, clearly possible as the points are up for grabs, but obviously something that's out of reach for most who try this. The only way a skilled trader would not be able to make money is if volatility dried out and the market stopped moving. There were a few years (2012/2013?) where the market was barely moving. That's a tough traders market. Then, the trader would have to consider finding something else for a while.
Well the exception to the rule in most cases is knowing when to push the trades or not trade at all. So the context of when to trade and being able to tell the stability or sponsorship of a market is critical. The results so far may be really good, but it's not like we're necessarily doing anything amazing to get them. It's just having a deep understanding of how the markets work. We're certainly fallible just like other traders are, we're aware of that. Thankfully while not perfect we are decently apt at being able to identify when to push and when to sit back. This type of discernment is difficult and I would argue takes the most amount of skill, but it is the way to get the exponential gains (As oppose to just having a set trigger and taking it regardless of context). Also the disappointment thing is not really a concern either. Our win rate and/or profit factor could drop and we would still be in a position to earn good money trading, it would just require more capital and size of course to generate the same type of income. Even that wouldn't be a requirement necessarily because we could still be making decent money and just grow slower. Just to add to this it isn't about getting some monster returns and proving a point, it's just about trading what we know and making money. If we do that, the results will come, even if they don't end up being amazing. By the time our edge is saturated it would be a moot point. There's so many markets we can employ what we're doing in and we're not even trading what would be considered even close to large size on the one market we're focusing on. Also, some of our trades could be likened to waiting for others to make a mistake and we take advantage of that mistake. So we're not forcing trades and as long as people, hedge funds and etc are trading they will always make mistakes. Someone always has to capitulate.