To make a living you need at least 300k in your account?

Discussion in 'Professional Trading' started by crgarcia, Oct 21, 2008.

  1. Fkin awesome. Seriously that is intense. I dont think I would have the tolerance to trade a small account anymore. I would risk too much because of impatience in making the account larger.
     
    #71     Oct 23, 2008
  2. My performance is peanuts compared to a buddy of mine. $25k to over $400k in less than 3 months.

    His playa hatin skillz are even more impressive than his trading.
     
    #72     Oct 23, 2008
  3. where have you been?
     
    #73     Oct 23, 2008
  4. sumosam

    sumosam

    i make about $300 - $500/day using only a small portion of my portfolio...lets say $12,000. Have made alot more by using a six figure amount....but was too stressful, and could not handle a loss.

    Eventually, will increase that amount, but you can easily live on $12,000 or so....if you are good at trading and risk/money management.
     
    #74     Oct 23, 2008
  5. This whole thread is a repeat of all threads starting with "How Much do you Need to make?" or "How Much do you make per day"? or any other thing that brings on all manner of bullshit claims.

    Anyway. I think a buffet style 20% per year is a very respectable goal. All you got to do is keep it going for 40 years, though.

    I doubt any of the day traders claiming 200% or 450% in a day can keep that going over 40 years. A blowup is going to happen with near 99.9% certainty for people attempting to trade like that.
     
    #75     Oct 23, 2008
  6. Daal

    Daal

    This is true for larger sums of money/hedge funds. anybody who thinks they can make 200% a year on that kind of money should quit posting in a forum, open their hedge fund in the cayman and own the world in a few decades. You could be buying islands by the time you retire. But of course no one can do that without a blowup
     
    #76     Oct 24, 2008
  7. PJT

    PJT

    This is awesome.

    What a fabulous success story.

    Thanks for sharing this lescor.

    One quick question for you:

    Do you think trading successfully is a factor of emotional intelligence as much as it is technical intelligence?

    Thanks and continued success to you and yours.

    :)
     
    #77     Oct 24, 2008
  8. lescor

    lescor

    You need control over your emotions to trade successfully, no one would dispute that. But to grow bigger and bigger, to keep scaling up as your profits grow, is the hardest thing to do and the limiting factor for most profitable traders.

    You always hear of guys who make money but then when they try to trade bigger size, they screw things up and take a hit. They know how to trade, but have not let go of the emotional attachment to money. Everyone has a certain comfort level where the money truly doesn't matter. The key to growing is to slowly and methodically bring that level up while at the same time honestly and truthfully letting go of any emotional attachment to your p/l. It is hard to do and takes time.

    After you've become consistently profitable though, it's the number one thing I think a trader should work on.
     
    #78     Oct 24, 2008
  9. lpchad

    lpchad

    Lescor - statements or method for us to audit, please.

    Thanks,

    ET Community
     
    #79     Oct 24, 2008
  10. Dustin

    Dustin

    Yeah Corey we don't believe you. Statements or ban!
     
    #80     Oct 24, 2008