Trade for a living: Advice wanted...

Do you want to have monthly income, quarterly or annual?

I mean when do you want to count the chickens (the $60K)?

Do you have a rough estimate of your profit factor?

What is your win %?

I will try to give you some estimates about how many trades you need and your probability of success.

 

I forgot. I also need the "cry uncle" amount. Howe much of the 350K are you willing to lose?

 

Start a brokerage. They are the only ones who make money in the long run.

 

If their names are Merrill, Lehman, or Bear Stearns, they're DEAD in the long run, like us all.

 

There is more truth to this statement that most ETers would admit.

 

averaging 20% per can be achieved.

emphasis on *averaging*!

one year can produce 35% then 5% then next, then 20% then next.

you need to expect some lean years and some huge years.

I don't think it's realistic to expect to produce a steady return each and every year like a straight line (unless you're selling premium each month where it will be straight with the occasional wipeout).

 

If you are easily satisfied you may find your answer here on the interwebz..

 

spend time finding your niche
spend time examining the markets
spend time examining your results
spend time examining yourself

spend the smallest amount of money possible until you're comfortable you spent the right amount of time on the things above.

Remember, when we first start, we don't know what we don't know. Progress quickens when we know what we don't know. Confidence builds when we know what we know.

 

That's especially true when we finally realize that we know we really don't know anything...

 

I bet you've already realized that you know enough . I know I have. I am talking about trading and politics.