With a 40k account.

Whats an average amount that could be earned each day?

Is 400 to high?

 

Your loss should be confined to no more than $800 per trade.

 

what?

 

Much depends on your risk tolerance, asset class, volty, etc... It's not unusual to have 10% weeks in exotic options.

 

He's telling you that to be a profitable trader, you must first focus on and manage your losses.

Every profitable trader learns to manage their losses first, and then they can develop a method (plenty on this website for free) of placing winning trades.

With an account the size of $40,000, if you limited your loss to $800 per trade, that would be 2% of your total capital base.

You are asking the wrong question.

The correct question for any trade you place is:

How much can you lose?

 

No, $400 is not high IMO.

I trade with 26-27k account. (I take out the profit each week.)

I've been averaging about $420 for the last 2 months. (I've been daytrading for only about 5 months )

Good luck.

 

thanks champ

 

Classic newbie mistake from Tyler. This is what fuels the market, not fundamentals.

 

Yep, I am a noob. Just trying to learn. Thanks

 

depends on what kind of leverage you can get on that 40k, which if you go prop can be a lot. 400 a day is about 100k, there are a lot of people on elite making more than that a year. so my answer to your question is, yes and more.