Average Weekly Earnings

This is a discussion on Average Weekly Earnings within the General Trading Chat forums, part of the Reception category; Originally Posted by redart And I was told it was lower still. I think 18k was the number I heard ...

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Old Feb 2, 2011, 10:38pm   #22
Joined Sep 2010
Re: Average Weekly Earnings

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Originally Posted by redart View Post
And I was told it was lower still. I think 18k was the number I heard on some programme a little while ago....

traderman, do you look at charts and use TA to make trading decisions?
I use Fundies and Techies. Mostly fundies
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Old Feb 3, 2011, 1:49am   #23
 
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Joined May 2008
Re: Average Weekly Earnings

£500 a week might not be much if trading for a living and it were your sole income.

But if spare-time trading on top of a regular job or other income-stream, I'm sure many would find it quite handy.
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Old Feb 3, 2011, 7:05am   #24
Joined Mar 2010
Re: Average Weekly Earnings

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Originally Posted by montmorencyt2w View Post
£500 a week might not be much if trading for a living and it were your sole income.

But if spare-time trading on top of a regular job or other income-stream, I'm sure many would find it quite handy.
Yea. Even if i was only making £100 a week trading on top of my salary i would still do it. An extra £5k a year on top is more than most save in a year..
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Old Feb 3, 2011, 11:31am   #25
 
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Re: Average Weekly Earnings

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Originally Posted by tomorton View Post
Average Weekly Earnings in the UK are around £500 (recent figures, Office of National Statistics).

Who earns at least this amount from trading?

(I don't).
That's much more than I was lead to believe! Interesting.
Anyway, I dont earn that much.

Only 1 or 2 posters claiming to earn more from trading so far

I'd like to know what methods those that do claim to be profitable use. Not necessarily in any real deatail, but it might be that no TA guys make money and those that use fundamentals instead or some relatively unique or unheard of method are the ones that do for example.

People that I have come accross who do make money trading hint that they dont use charts or scalp the order book, and even suggest that they dont really use fundamentals. Im always left wondering what im missing, lol.

Personally, i've come a long way and tend to win more than I lose nowadays, but accept that at best, for me , trading will just be extra money on top of any other income I have
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Old Feb 3, 2011, 11:36am   #26
 
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Re: Average Weekly Earnings

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Originally Posted by temporarilylight View Post
That's much more than I was lead to believe! Interesting.
Anyway, I dont earn that much.

Only 1 or 2 posters claiming to earn more from trading so far
The reason is obvious: people who are killing it don't want to draw attention to themselves for one reason or another.
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Old Feb 3, 2011, 9:54pm   #27
Joined Oct 2006
Re: Average Weekly Earnings

Account is in USD. For the risk, I consider this a fairly average return overall.

I also found a screen shot from a very good month back in 2009 (but this is not the norm). It shows even with more losses than wins, you can come out ahead by letting the profits become larger than the losses.

I have absolutely ZERO control of the actual outcome of a trade. The only thing I can control is my ability to follow my predefined rules of engagement. I try to stay focussed on "Did I follow my rules this month" as opposed to "what percentage gain" can be made.

I didn't follow my rules fully during Jan, 2011. I have fully programmed in my rules to a computer program I run from a server in my house and don't actually trade anymore. There was a couple of errors in my software which deviated from my rules. I corrected the software and have deployed the fixes. I also overrode a trade which actually was correct, but I made a visual mistake and thought my program had it wrong when it was correct. My goal for the month of Feb is to have zero mistakes and follow my method to the tee. What ever the actual outcome is, it is (I have no control over that).

I believe people become fixated on the things they cannot control such as "how much money will I make", or "what is the hot system I can use" (you can control what system/method you learn/buy, you just cannot control the results). But everyone is different and you need to go with what works for you.

I am also a little uncomfortable posting this as it gives a level of "expectation" now on my part personally. But I challenged myself to post it to give real results in a real account, and also to solidify in myself that my goal is to follow my own rules and not shoot for things I cannot control (such as a pre conceived amount of money to make). And to give back to. I started out here a long time ago and I can say if it wasn't for this forum I wouldn't be where I am today in a journey that I'm still on and have a long way to go :-)
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Old Feb 3, 2011, 10:10pm   #28
 
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Joined Sep 2010
Re: Average Weekly Earnings

Quote:
Originally Posted by temporarilylight View Post
That's much more than I was lead to believe! Interesting.
Anyway, I dont earn that much.

Only 1 or 2 posters claiming to earn more from trading so far

I'd like to know what methods those that do claim to be profitable use. Not necessarily in any real deatail, but it might be that no TA guys make money and those that use fundamentals instead or some relatively unique or unheard of method are the ones that do for example.

People that I have come accross who do make money trading hint that they dont use charts or scalp the order book, and even suggest that they dont really use fundamentals. Im always left wondering what im missing, lol.

Personally, i've come a long way and tend to win more than I lose nowadays, but accept that at best, for me , trading will just be extra money on top of any other income I have
I currently make my living trading index options credit spreads. It is not my only source of income, but it exceeds my monthly expenses by a bunch.
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