Making a Living from Trading

[Cornix]

No reason to be making 15% a year if you're trading. 15%-25% a month or more, maybe not every month but most if you know what you're doing.

$15,000 a year????....$1250/month = 25points a month or ~4-5 ticks a day on a 1 lot in the ES. You better be doing better than that!

Indeed. Actively trade for 15% return per year sounds like a VERY conservative approach.

Maybe only if one trades from weekly or monthly charts, spending 15 minutes a week on them and doing it on a small size, then...

 

[EulerFourier]

Going back to what I said earlier about trading with bucketshop fx brokers (FXCM, Alpari, Oanda, blah blah blah....), I just came across this snippet from none other than Paul Rotter himself. For those of you who are unfamiliar with his name, google is your friend. He is possibly the worlds top trader:

TraderDaily: How helpful are $250 forex mini-accounts and products like the CFD (Certificates For Difference) to individuals who hope to parlay a small amount of capital into a fortune? Are these valuable tools or just the malt liquor of the financial world?

Rotter: In my opinion, this is just a kind of gambling similar to online poker. I know some smart guys who consistently make money in online poker, just taking it from all the gamblers. If you are not just a gambler, you need some professional equipment like news feeds, etc., and then, with the right strategy, you might turn even a small amount into a fortune. The biggest problem with these products is that you do not trade on an exchange and it is not regulated. That means your counterparty is the broker who probably doesn’t even hedge your position. So, if you are too successful, the broker won’t like you, and kick you out or just not give you good fills. I’ve heard many stories like that. The broker is your counterparty; you must accept his prices and his fills. So, basically it is “malt liquor” for these brokers and not for the financial world. You definitely have much better chances playing online poker, as this is level playing field

Insight From


Well, there you have it. End of story. Don't believe me, but for goodness sake believe Rotter!

 

[vergis92]

If you want to make a living from trading then you need at least £100,000 war chest to start for. what could be an average return for an average trader? i guess somewhere around 15% per year. Do your math and you will know where you stand. Other possibility is to trader with £20K+ account and get your performance published at Managed Futures and CTA Program Performance to attract clients who are willing to invest on your trading sys. It will take time. Anyways got to go. Good luck mate.

How much can one make advising clients on trading,?? it sounds interesting

 

[Pferd]

How much can one make advising clients on trading,?? it sounds interesting

I think this is very risky territory. It could open a can of legal troubles. Don't think is very wise to get into this area unless you have proven preparation, official paperwork/registration and strong legal advice. You could end broke otherwise with court cases against you coming left, right and center.