<i>"It's much easier to make $250 a day on your $25000 E-Trade account Mandelbrot, than to make tens of thousand everyday on a large retail account. It's your inabilty to comprehend those types of numbers that shows you are you piker."</i> Please explain to us what the mechanical difference is between making $250 per day with $25k or $2,500 per day with $250k. I for one have to claim ignorance on this statement. Setting mental and emotional aspects aside, what is the mathematical = logistical difference between trading one ES contract, ten ES contracts or one hundred ES contracts with exact-same execution results? Difference in ZB? Difference in large-cap stocks? Difference in EURUSD futures?
<i>"It's the truth -- you stop having the urge to post, because to give a true picture of what a successful trader can do, not many would believe. And you just stop caring enough to bother convincing others, what is the point really."</i> Wholeheartedly agree. There comes a point where all the negative chatter about how imposible it is to average +$500 per day on $100k account and other ridiculous statements makes you realize it ain't worth the bother of explanation any further. Everyone figures out their own reality about trading, few listen or believe anything otherwise along the way.
<i>"Do you really want to be on this site claiming that you can pull in $500 per day. I know girls that would pass you over in a instant"</i> Most traders cannot make $500 per day on $5k, $500k or $5mm account, because most traders are still trying to figure all aspects of this profession out. Therefore they assume it is an impossible task for anyone & everyone. Right now they can't = no one can. Even a paltry $500 per day x 240 days = $120,000 usd per year, linear with no sizing up along the way. Not a bad place to start. The gold-diggers you may know who would "pass someone up" are irrelevant to anything to do with trading. Attracting hot women is only difficult for men with severe personality = social disorders. Everyone else is in the game. Attracting success as a trader and keeping it is much harder to accomplish.
Hi Clubber Lang, austinp already addressed these issues, but I assure you I stopped trading stocks, etfs, mututal funds, etc. in my own accounts years ago. I won't go into too much detail because I'm not a patient man, and I have discovered through my own experience that teaching elementry level futures, money management and risk management courses do not even remotely interest me (especially not to the clown patrol). But for you and the numbnicks who think you put me in my place, LOL, all of you might want to start putting in the screen time and doing the math to determine exactly what is, and is not, possible ... Have a great trading day. P.S. Like I said "it's your inability to understand it that shows your limitations, not those of the poster", and I wasn't being mean. I was just being real.
Interesting thread. I am always fascinated by how much others make(%), or think cannot be made. Without it, is navigating without a compass. OPâs bar setting, is indeed quite doable and if remotely possible today by a handful, there will be tons of teen age quants achieving way more superior results in the very near future.
Austnip hit the nail on the head. Those that can = They do it Those that can't = Do not want to hear that YOU can Those that "DO" have been "around the horn" a few times and have the miles under their belts. We all see new clowns come in looking for answers or claiming to know why the other answer was bs. As they post more and more they reveal the real truth and that is they are fishing or else are having visions of selling you something. My Daddy makes more than your Daddy. <a href="http://www.sweetim.com/s.asp?im=gen&ref=11" target="_blank"><img src="http://content.sweetim.com/sim/cpie/emoticons/000201E2.gif" border=0 ></a>
LOL, all too true, and there's no point in educating the unwashed ... but you forgot the trademark funny faces.
<i>"A professional daytrader should make money just by showing for work. Minimum profit to be pro. daytrader is $500/day consistently without any drawdowns for 20 consecutive days. and account must be under $10,000 with 4:1 margin. A pro daytrader should be able to make $500/day with a $10,000 account with account staying at $10,000 with cash withdrawals weekly."</i> Losses and drawdowns happen for a myriad of reasons. Trading a $10k account for +$500 daily is going to be a bumpier ride than $50k account to accomplish the same. Professional traders make the same mistakes everyone else does... just less often. They nip wrong decisions in the bud, accentuate correct decisions and live with overall long-term results.
It's all a matter of the "what" and the "how" of the strategies and tactics involved. Trading the opening only orders requires capital but is still one of the most successful strategies for professional traders. Trading off of the MOC imbalances, same thing. Adopting "children" - meaning trading the same 1 or two stocks day in and day out is excellent. Heck, my nephew makes a good 6 figures just trading GE all day long. Most strategies do require the use (not abuse) of a $million or more to make 6 figures, but as you all know, our traders can use that much with $20K in their accounts. Not so many basic "daytraders" scalping quick ins and outs these days...stiall a few, but not as many as a few years ago. FWIW, Don