Have I entered the elite 5 percent?

[aparoid89]

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?

 

[BeginnerJoe]

No. You only made the 2% profitable trader.

 

[wakka]

Depends on whether or not you will now get over confident and blow the lot in your next trade.

 

[Pat494]

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 !!

 

[new_trader]

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 !!

You can't possibly be serious.

 

[Shakone]

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?

50 trades is not really much to go on. Good luck though.

 

[FringFX]

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.
will you still aim to be a part of that group?

 

[Pat494]

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.

 

[new_trader]

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?

 

[Pat494]

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 ".

 

[x4x]

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.

 

[Jack o'Clubs]

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.

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]

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.

 

[Jack o'Clubs]

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...

 

[x4x]

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

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'.....!

 

[x4x]

Trading is technically very easy - the hard bit of trading is the psychological aspect - so compounding on a trade by trade basis can be counter productive. Take out your expenses each week and compound from there.

 

[ian23]

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

 

[Pat494]

I trade SB and not the American contracts. So trading 1% of wedge per bet is easy to work out

 

[Jack o'Clubs]

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

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]

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..