That equates to over 3% to 10% per month on account size 30k. I call total BS to this statement. First off if you were a gun trader you would not have an account size of 30k. You would have an account size of 3,000k more like it. Secondly if you had an account size of 3,000k, yes you would probably be pecking away on 30k lots or that would be your monthly lot size and winning 3k per month. Thirdly, if you were pulling in 3k per month on 30k of trades, your outlay of equipment and data costs, fees etc would be huge. Have you factored in those costs? I think it's about time day traders got living in the real world instead of this bizzare fantasy world they can't seem to escape from. With 30k you are pulling in 3k, pffffffff Day traders are competing within an elite sphere of trading, you are competing with huge and secretive organizations manned by huge numbers of staff and infrastructure. Are you telling me that you in your pyjamas and tank top with your Commodore 64 computer with 30k is pulling in 3k a month? Because that is where ET day traders are, you have a model T Ford attempting to compete on a Formula One track.
Stocks are like a relatively boring and tame street car; While options are a Formula 1 race car, Completely different beasts; One is a hawk, the other is a primal Pterodactyl,
Depends, one stock isn't the same as the other... and same for options. Some options on some stocks are completely boring and some stocks are as much of a whirlwind as options...
Disagree. Day trading is not Formula 1. Day trading is labor expensive, your fees and slippage are high, your set up costs are high, the only part which is Formula 1 is stress and pace. I'm in Australia, our market is currently open, my positions are doing ok,at close of trade today I will outline fully how much money I made/lost. The reason, I do not believe a day trader would outperfom me. Why? You cant match my position size relative to risk and my very low costs. Plus, I have experience which would far surpass many ET traders. (In terms of years experience) Market here closing in about 20 minutes.
Today on ASX we had the following; The XJO (ASX top 200) was flat, 0% rise, down 0.6 of a point. XMM Mining index up 0.7%, up 25.4 points XGD Gold index up 0.8%, up 36 points. XEJ Energy index down 0.7%, down 64 points On one of my trading accounts (the most active of three accounts) I currently hold 17 stock trading positions. Of those 15 are mining related, Gold, Copper and general mining and a further 2 positions are within the Energy sector. Of these positions; 7 lost money today, 2 were flat, 8 made money. Total Account size 380k thereabouts with $4,400 in cash (in nearly 99%) Profit/loss for the day +$2891.00 Now for a 30k account if it were scaled, that would equate to $228.00 profit today. Lets assume we make a profit 50% of all trading days in a month. That is approx $2500 per month not inclusive of brokerage, fees or slippage or labor costs.
@themickey for giving some insight in your accounts. But it seems that you tend to hold in stead of daytrading? OP asked about daytrading.