How difficult is it to make $150 a day?

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Old Sep 19, 2010, 3:11am   #1
Joined Jun 2010
How difficult is it to make $150 a day?

Okay, so I have been learning how to trade for about 3 months now. I have done tons of reading on several forums, lot's of article reading, guides and practiced a lot in simulators. I don't plan to trade just yet with real money as I still believe I got a lot of learning to do.

But please tell me, if I was to trade from Monday to Friday 1 contract on the emini s&p 500 from open to close can I make $150 profits after losses and commissions per day every week and how difficult would this be on the scale of:

very easy
easy
medium
hard
very hard

Please choose one of the above?

Many thanks
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Old Sep 19, 2010, 4:25am   #2
 
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Joined Feb 2009
Re: How difficult is it to make $150 a day?

Very hard. If you were to trade more than more 1 contract, then less hard.
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Old Sep 19, 2010, 4:35am   #3
 
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Joined Jun 2010
Re: How difficult is it to make $150 a day?

I don't trade the E-mini. Simply put, you can answer your question for yourself by answering the following questions:
1. Do I have a methodology in place that I persoanlly know is the best around?
2. Do I have safe and practical margining skills?
3. Do I keep level headed even in the most heated times.

The grade you give yourself in those areas is your answer. I'll also give you something on both sides of the spectrum to look for. You better score better than average on all 3 of those questions, because 90% of all traders fail, and you will be one of them if you have a low score in any one of those departments. The other side will give you something to look forward to. I make a lot more than that. But, it is experience and paying the price for what it took to be an excellent trader. It comes from a better than average understanding of how the markets work. You have to be better than average in order to succeed, because you will also be in the upper 10% of all traders if you make it. There is no need to apologize when you reach the upper echelons. You will have a good time at the bank.
BTW, through what you have written, you seem to have done much of your due diligence already, therefore, you are off to a good start. Don't leave your demo trading until you know you are ready to go.


Quote:
Originally Posted by sopodo View Post
Okay, so I have been learning how to trade for about 3 months now. I have done tons of reading on several forums, lot's of article reading, guides and practiced a lot in simulators. I don't plan to trade just yet with real money as I still believe I got a lot of learning to do.

But please tell me, if I was to trade from Monday to Friday 1 contract on the emini s&p 500 from open to close can I make $150 profits after losses and commissions per day every week and how difficult would this be on the scale of:

very easy
easy
medium
hard
very hard

Please choose one of the above?

Many thanks
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Old Sep 19, 2010, 9:33am   #4
Joined Jul 2010
Re: How difficult is it to make $150 a day?

The problem with making $150 a day is that losing $150 a day is ten times easier.
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Old Sep 19, 2010, 9:55am   #5
Joined Oct 2006
Re: How difficult is it to make $150 a day?

It's no easier than making $1500 a day, it's just a question of how many contracts you trade. As somebody already said it's much easier to lose it regardless of what contract size you trade.
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Old Sep 19, 2010, 10:43am   #6
 
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Re: How difficult is it to make $150 a day?

in theory, fairly easy - in practice, worse than very hard
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Old Sep 19, 2010, 11:11am   #7
Joined Sep 2010
Re: How difficult is it to make $150 a day?

Depends on a variety of factors .

What timeframe will u be trading?
The size of your position.
Your RR ratio.
MM parameters.

If all the above have been correctly defined , assume you would have to use a perhaps a 240m timeframe to achieve this. Using the smaller timeframes will just not provide you with reasonably well defined RR and MM parameters.

Sorry cant go into the numbers right now.
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Old Sep 19, 2010, 11:34am   #8
 
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Joined Jun 2008
Re: How difficult is it to make $150 a day?

It's about as difficult as it is to take money out of the markets on a consistent basis?
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