Dont be silly. The risk of ruin when paying 500% commissions a year for a retail trader is almost 100%.
I pay $3.63 round trip per contract. As that is the only material business expense for most of us, it works just fine IF one has developed the skills and disciplines necessary...and while most fall by the wayside, many do ultimately succeed. It just ain't an easy journey.
I agree I'm sure the burnout rate is very high but I tend to think any strategy is possibly viable with the right trader behind the wheel.
So you make 1000%+ a year, thereby easily being able to cover 500% in commissions? Well that is very impressive, exceptional, you are one of the top traders in the world.
I doubt it but it works for me...do what works for you. I don't encourage people to get into day trading as it is tough to master but I also don't want to discourage those who have the drive and work ethic. And there is no lack of negativity and discouragement on ET.
Dont be so humble. If you can average 1000%+ year. You are an exceptional, world class trader. Why are you wasting time on ET?
Talking shop and lending direction and advise to noobs, although I often question my presence here. For years, a group of us had a private chat room but we broke it up as it cost entries. In ET, there are no social obligations...just come and go as well as participate in discussions at will.
A 10k account % returns is much different than possible returns on a 100m account. Don't be a dick, speedo is one of the good ones here.
Its not about being one of the good ones or not. But saying that making 500% a year just to cover you commissions is realistic for retail traders, is just really silly guys. Maybe 0.1% of traders can do that if they have found some arb strategy that guarantees making money. But its not even worth considering as realistic for 99.9% of retail traders. Saying otherwise is something that a newbie trader would come out with.