Been trading real money now for four months, made around 50 trades and my account has expanded by 2 percent.
Have I made the cut of 5% profitable traders?
Have I made the cut of 5% profitable traders?
perhaps you would be a part of it if you could trade really well for 10-50 years.
will you still aim to be a part of that group?
Certainly am
Some days I make more, some less but 2% a day target isn't really pushing too hard and with accumulation pretty good. Betting at 1% per bet to make 1% each - so that's only 2 winning bets. Often done for the day in 1 hour.
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I’m not sure how you calculate your %, but I think we are talking about two different things. The OP increased his account by 2%. I doubt you are adding to your account at the rate of 2% per working day...compounded...do you have any idea how much money you would have in 12 months starting with even a small amount of money?
Yeah - lots and lots of luvely jubbly
A target is one thing, but I don't claim to make it day in, day out though.
Just gotta watch the " birdie ".
There's nothing difficult about achieving 2% per day as an intraday trader - but I, and I'm sure many others have to take out profits on a weekly or monthly basis, so compounding at the rate you are suggesting doesn't happen, and I don't think Pat494 said he was compounding anyway.
Less than 1 or 2 % per day would, in my opinion, negate the whole purpose of day trading and would make it inefficient - efficiency is an often forgotten aspect of a good trading system/method/style.
Less than 1 or 2 % per day would, in my opinion, negate the whole purpose of day trading and would make it inefficient - efficiency is an often forgotten aspect of a good trading system/method/style.
Surely if you could make 2pc a day and understood some basic maths relating to compounding then it would be worth giving everything up for a month or two to become as rich as Croesus on a medium term view.
Marshmallow, anyone? Stanford marshmallow experiment
The OP said he expanded his account by 2% over four months, he didn't mention anything about daily targets. Pat said in reply to this that most traders aim to make 2% per working day which implies they are expanding their accounts by 2% per day.
Which annualises at 5284.5% assuming a 200 working day year. Something I'm not getting here...
I'm guessing you don't day trade - and my expense providers may not be too keen on me 'giving everything up for a month or two'.....!
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