Discussion in 'Professional Trading' started by tyler19, Aug 26, 2006.
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.
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 )
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.
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