My job is holding me back

Discussion in 'Trading' started by Jdesey, Dec 26, 2022.

  1. Hello countryBoy641,

    YESSS, agree. that first million is tuff. I am far from it
     
    #21     Dec 26, 2022
    countryBoy641 likes this.
  2. VEGASDESERT

    VEGASDESERT

    Not to be harsh but if you have to ask on a message board, i wouldn't do it.

    Sounds like you're not ready tbh.

    you'll know when you're a pro.
     
    #22     Dec 26, 2022
    comagnum likes this.
  3. hilmy83

    hilmy83

    DO NOT QUIT YOUR JOB...

    Use the money you're going to save and automate your process as much as you can.
     
    #23     Dec 26, 2022
  4. taowave

    taowave

    You are far from 1 mil and hope to make 6k per day in 5 weeks??

    What kind of returns are you shooting for????


     
    #24     Dec 26, 2022
    SimpleMeLike and CALLumbus like this.
  5. Sekiyo

    Sekiyo

    Take responsibility.
    It’s not your job.
    It’s yourself.
     
    #25     Dec 26, 2022

  6. Was going to ask the same question. I will say that $6k a day on $150,000.00 capital is pretty reasonable and do able, assuming you have a real intra-day edge. I mean even on $75k or 100k it's do able, but at that point you need to really have your stuff together mentally as well and your chance of failure rates also increases.

    I will say though for intra-day trading I find it better to focus on the risk aspect in points, as oppose to capital returns. For example if you have a $20,000.00 account and willing to risk $10k of that, that gives you 500 points of NQ risk before failure. So if your average trade stop loss is 8 points eon 1 mini you have roughly 62 trades to lose in a row before failure.

    If you've backtested and forward tested your system and it has let's say a 58% win rate and 2.1 profit factor. Than it's unlikely you're going to hit failure rate at any time if you can lose 62 in a row. At that point exponential gains are possible and what would seem like out rages returns percentage wise, isn't really that crazy.

    Obviously the higher win rate and better R/R you have, the more safely and likely it is to get exponential gains before failure.
     
    #26     Dec 26, 2022
  7. Businessman

    Businessman

    $6K is doable, just not every day. After taking losing days into account you will average or net just a fraction of that.

    If you want to average $6K a day ($1.5million per year), you probably want to be making $60K (or more) on a good day.
     
    #27     Dec 26, 2022
  8. tomkat22

    tomkat22

    I think it would really help the OP to read Neke's journal. It's very long but well worth the read.
     
    #28     Dec 26, 2022
  9. Buy1Sell2

    Buy1Sell2

    ---Your trading is actually hurting your job and your boss.
     
    #29     Dec 26, 2022
  10. Businessman

    Businessman

    Fuck the boss. As long as you work the hours you get paid. He shouldn't expect more.

    As for trading hurting your career, i agree, probably countless people have damaged career prospects and future earnings potential, not to mention current lost income, by being distracted by trading..
     
    #30     Dec 26, 2022
    guest_trader_1 likes this.