BeginnerJoe
Senior member
No. You only made the 2% profitable trader.
new_trader
Legendary member
You can't possibly be serious.
Shakone
Senior member
50 trades is not really much to go on. Good luck though.
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?
Pat494
Legendary member
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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new_trader
Legendary member
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?
Pat494
Legendary member
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.
Jack o'Clubs
Experienced member
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
new_trader
Legendary member
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.
Jack o'Clubs
Experienced member
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'.....!
Depends on what you are trading. In futures you go for 1 or 2 % on the day but you can't just scale up, once you are up a certain dollar amount you can start adding 1 contract to the size you trade. With individual stocks I guess it is different, but I would suggest anybody break their trading up in chunks.
Say have 10k for each ES contract, trade 2 only once you have made another 10k. There is no rush, rather focus on making money consistently. If you can then the money will come in the end
Say have 10k for each ES contract, trade 2 only once you have made another 10k. There is no rush, rather focus on making money consistently. If you can then the money will come in the end
Jack o'Clubs
Experienced member
As I look now, ES has 500 on one side and 200 on the other. You could scale up one hell of a long way before size became an issue...
PriceActionDayTrader
Newbie
aparoid89, that is some amazing news.. profit is being profitable.. don't let anyone tell you different.. Very awesome to finally here some inspiring stories such as yours..
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