Is that on average or do you consistently double your account every week? Either way, that is some good thing you got going there. PA
In the real world people have a sleight aversion to blowing out. Doubling every week is pure nonsense.
It all comes down to your money management. I make 14%-20% of my total bankroll on my wins, and 7%-11% on my losses. Doesn't take to long to double with these numbers. Sure, a few times a years I have a big drawdown, but I expect it and have the reserves to not miss a beat. Suppose you make $200K a year, and over the course of that year you deposit say 40K, where is the problem? Anyway, it works for me.
John F. Carter of __Mastering the Trade__ says 0.5% a day is a reasonable, manageable goal. I assume he is basing that value off the results of the systems he describes in that book. I'm shooting for 2%, but it's too early to tell if I'm going to be able to achieve that consistently using my current methodologies.
Just to clarify, there is a 20-fold difference in the returns you are quoting there. For example, using a non-compounding 260 trading day year, 0.05% per day is 13% per annum. Using the same parameters, 1.00% per day is 260% per annum.
For God's sake why 2%/day? .5% /day consistently and you eclipse warren buffett, soros and bill gates combined. Too much risk = dead ass broke
this year i found myself losing small 4 or 5 days , then big gain the 5th or 6th trading day. overall doing ok this year not the best though... i think its because i do a tight stop and been shorting alot... i lose most days but keep the losses small. then on the way it does pullback, i am in pretty big.
Lots of underachievers on the thread. Don't listen to them. Once a trader "Gets it", it's not hard. 5%, a day is easy. At 1.5 % risk per trade, that's 4 winners and 1 loser at 1:1 risk:reward. Not a lot of IndexPikers can trade. Hence, the nick, i guess. Keep going man. There's some good journals. SpanishXX (name), if I'm not mistaken. Him and some contributors were pushing 5%, per day easy. Good luck.