Don't want to be the rain on your parade but most traders aim to make a steady 2% per working day.
But seems you may be on the right track - so good luck !!
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?
perhaps you would be a part of it if you could trade really well for 10-50 years.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?
You can't possibly be serious.
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.
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?
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.
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?
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.
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
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