Realistically, How much Money can I Expect to Make?

Experience and learning are required but they are not so much learned as acquired. Theory alone or hunches alone will most likely cause the new trader to lose consistently and possibly fatally for your grub stake. Narrow your focus to things you know the most about. A farm boy might concentrate on food companies or farm implement manufacturers or on grain handlers for example and build carefully and make small bets only and not allow them to run too far in the red without stopping at a limit of dollars or in per cent. Old traders will still do this but their experience makes it possible for them to go with larger positions than a newbie. I have come to the point of having the guiding principle of all sales all the time. I don't deliberately buy much of anything. What I own I will sell calls against. When there is little to sell calls against then I sell naked puts well out of the money and in small amounts. When I have a good profit I might offer to buy back cheaper but often wait for an expiration as worthless or if assigned something to sell calls against. I should have gone this route when I was younger, it avoids a lot of bad buys. The real caveat here is to sell puts when the market is really bad so that in recovery you do not get assigned. When the market is high just concentrate on selling out of the money calls that will make you better off.

Its all about time and timing. How much can you expect to make in X time. A month, a year?
Suppose you said that you wanted to double your account, and suppose for arguments sake you had a £10,000 account. There are 20 working days in a month (roughly), so that means you need to average £500 per day profit to double your account in 1 month. Suppose you bet £50 per point (5 contracts on the FTSE futures for example) You only need to get a move of 10 points to make your target.
This is not too hard. What IS hard is stopping and not trying for a bit more.
How many people started really well on Friday, only to end up in the red?
That's why all experienced traders know that self discipline is the key.

hi nikhil , Do you trade indian markets or US markets . $625 per day seems too good to believe.

No its not $ LOL! Its in INR , In $ terms average is close to 120 per day. In 2013 i have not had a single red day because i have diversified in my trading, i am trading 10 markets now. Index Futures/Index Options/USD/Euro/GBP/JPY/Crude Oil/Nickel & Natural Gas

you mean $12

My trading accuracy is nothing to boast its less than 50% but variability of position size usually helps. N = Normal Size , 1/2(N) = Conservative Size , 2(N) = Aggressive Size. Honestly speaking we just have to accept that we are not Einsteins and just put on trades without thinking of results. Technical Analysis can only help in terms of risk analysis for me personally. Take for example i am Bearish on Nickel , base metal, but i am trading it Long on conservative size LOL!

Yes on that particular day $12 in Crude Oil. Average is $120 though. In India people my age group (23 years) earns in a month what i earn in a day

hi nikhil,How many trades do u do everyday ?. You seem to be a scalper. I am an NRI and do trade nifty options ,Tata motors futures & Dlf . I earn on average £ 80 to £100 . Why dont you specialise one single market? I hope ,you dont get offended. cheers