What;s a good monthly % return for day traders?

Discussion in 'Trading' started by chipmunk, Aug 29, 2008.

  1. it all depends on you and your goals....% is irrelevant because this is not a contest so you really shouldn't care about how everyone else is doing.

    you can make money consistently... fine. then design a plan and start diggin.
     
    #21     Aug 29, 2008
  2. not true. I have been at this as my sole profession for years, and my accuracy has hardly changed at all. I can estimate what I am going to make based on how many trades i make. I get a certain average per contract over the long run. This number does not change in summer markets, etc.

    markets change of course, but if you are a very short term day trader, as in minutes or less, you will not be affected by this stuff. I have been using the same few setups for about a decade, and no changes whatsoever.
     
    #22     Aug 29, 2008
  3. Well said. I also trade quickly, somewhere between scaper and short-term trader. Same story, second verse regarding my systems. Once I got the damned things to work, I haven't needed to tweak them much over the years to stay profitable.
     
    #23     Aug 29, 2008
  4. In average, not losing money is quite good; as most daytraders lose money.
     
    #24     Aug 29, 2008
  5. most just blow up before they learn the ropes I think. The rest just don't get the "mental" thing.

    I believe the mechanics are quite easy to learn. Accepting that you are wrong half the time is the tough part.
     
    #25     Aug 29, 2008
  6. Best response I've ever seen to this question (which gets asked a lot). Brilliant!
     
    #26     Aug 29, 2008