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 tomorton Average Weekly Earnings in the UK are around £500 (recent figures, Office of National Statistics). Who ...

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Old Feb 3, 2011, 12:31pm   #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, 12:36pm   #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, 10:54pm   #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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2011_01_results.jpg   2009_08_results.jpg  
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Old Feb 3, 2011, 11:10pm   #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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Old Feb 4, 2011, 2:53am   #29
Joined Sep 2010
Re: Average Weekly Earnings

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Originally Posted by temporarilylight View Post
T
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.
I dont use TA very much. Charts are only used as an easy way to see the general market moves. Thats all I use them for.
I use the Fundies more because the big picture news is what moves the markets. Keep abreast of current affairs, be logical and not overly emotional and you will be trading in the right direction.
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Old Feb 4, 2011, 7:05am   #30
 
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Joined Feb 2007
Re: Average Weekly Earnings

When you use fundies, do you day or swing trade?

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I use Fundies and Techies. Mostly fundies
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Old Feb 5, 2011, 1:48am   #31
Joined Sep 2010
Re: Average Weekly Earnings

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When you use fundies, do you day or swing trade?
I am a swinger
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Old Feb 5, 2011, 3:49pm   #32
 
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Joined May 2008
Re: Average Weekly Earnings

Quote:
Originally Posted by tdrtw View Post
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 :-)

Good for you for posting. I don't necessarily follow all the numbers, but don't worry, I'm not querying it or anything. Interesting that you have all the r:R for each trade. Have you computed an average? That number at the bottom didn't quite look like an average ... not sure what it was.

Do you compute average win:loss ratios, per period, or running average to date, or whatever? Also average win size to average loss size?

I'm always interested in automatic traders, because it sounds so much like the holy grail and I've never been convinced that it can work, at least not the kind of system the average retail trader would have access to. (I'm not talking about what goes on in the megabanks and whatnot). Do you find you are continually having to tweak the system to cope with changing market conditions, or does it basically run year in year out?
Also I don't recognise all the instruments you are trading (my ignorance, sorry....I mostly stick to FX ...I recognise a few). What's your range of instruments?

Was 2010 as good, better or worse than 2009 for you?

Oh yes, last question, what platform is this on?
(Don't worry; I'm not trying to steal your ideas. I have no intention of becoming an automated trader. I'm just interested, that's all).

Cheers,
Mike
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