Trading for a Living?

IsaacHua

Newbie
5 0
Hmm, true .. =) I think 10% monthly is possible. But u got to be really good i guess.. Many are called, few are chosen..

Ninja, which markets are u trading?

Depends on so many factors: risk management, opportunities for entry and re-entry, volatility of the market, position management technique...

You need to work out what is realistic for the specific method you use for each aspect that makes up your trading style, then you can get a rough idea of what return you could get.
 

LittleKnown

Active member
160 12
10%-20% per month is 120%-240% a year, over the space of 270 trading days divided by twelve, between .44% and .88% a day, no losses, pure profit, been looking into it myself and think that 240% a year on a $1000 account would be easier than a $50000 account, emotion, fear, greed, and all that jazz, still aiming to double my micro account in a year, baby steps..
 

traderunner1

Member
57 2
10%-20% per month is 120%-240% a year, over the space of 270 trading days divided by twelve, between .44% and .88% a day, no losses, pure profit, been looking into it myself and think that 240% a year on a $1000 account would be easier than a $50000 account, emotion, fear, greed, and all that jazz, still aiming to double my micro account in a year, baby steps..

A good daytrader will be able to make a profit in the order of 0,4-0,7 times the initial risk per trade is my experience; it is therefore important to have a system that generates many of these trades per time period. A daytrader making 5 trades a day should be able to get about 2-3,5 times his inital risk put on the table, per day.
this will amount to 40- 70 times the initially exposed risk oer month.
So trading a future system exposing yourselves with a stoploss initial risk of 100 $ per trade will then result in 4000-7000 dollars per month.
However there are two important factors here that are also confounded:

How is the variance in the trade reward? If you get 0,4-0,7 times the initial risk per trade as a rewardbut it is because you have one homerun per 10 opportunities it will be different from having a consistent series of basehits....and the reason is that it is more efficient to size your position with base hits instead of home runs.
Position sizing is the key to great success over trading for a living only.

The foundation for good position sizing is low variance in your trade results.
Low variance in trade results comes from having a good plan and executing that no matter what.
I have learned that the hard way....

Traderunner
 

citystar

Newbie
5 0
in the last 2 years i have traded from home spread betting to capitalise and forex, now i am daytrading in and out in 10,1,an hour or all day but no slippage. yes i have lost so thats part of the game,you must have a feed 24hours 7 days to stay in the game,i am happy at it and it keeps me on my toes,when all else fails i drive trucks,until i find that trade. then!!!!! thats the secret
 

qsera

Junior member
15 0
No Martin - It's a JUNGLE out there !!!

Welcome Mike


Cookie

This is what you'll look like when you become a daytrader.

LOL I totally agree of being in a Jungle from so many months..
 

gracesarah

Junior member
11 0
Hi to all
I hope I do not get ridiculed, chuckled on, spit on, sarcastic replies, gun in my face etc. etc. as I got from my first couple of posts.

The subject of trading for a living is definitely a yes, yes and more yeses.
I am doing it. I quit my job just after my coach/mentor told me that I was ready to trade live. His teaching methods is unheard of and explains things in plain simple terms with analogies. Which makes it easy to learn. He created his own system, also unheard of.

Trading the markets levels the playing field for achieving above average income.
It does not matter if you are born rich or born poor.
It does not matter if you have an education or no education.
The markets levels the playing field for all that can achieve profitability.

How to achieve profitability is the question and your goal. You are just banging your head against the wall if you are learning or stuck on the old conventional school of thought and by following the old out dated rules will be hard for anybody to achieve a consistent profit, expecially if you are a beginner. Most successfull traders from the old school, has lost a ton of money some where in their path to success. Instead of losing my money to the markets, I decided to seek a successful coach or mentor that would hold my hand through the learning curve. Instead of giving my money away at losing trades, I decided to give my money to a successful mentor. That was the best decision of my life. My mentors 2 famous words which he added to the 2 old famous fords of "greed and fear". He told me a thousand times. Do not be "Cheap" and do not "procrastinate". He said to me if you are cheap and you procrastinate, added to gread and fear. You will not make it as a trader.

I am not going to repeat everything, so seek my previous 2 posts for more info.
The Answer is in my first 2 posts.
See my post "the blind leading the blind"
See my second post "Buar Trading....4 figure Profit Consistantly
 
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happytrader2011

Junior member
11 0
Hello Everyone, I am a full time trader but it took me 18 months to get there! 6 months of going around and buying every single Forex Robot out there and attending loads of webinars and then 12 months of guidance and support from Sophie Gold.

Trading a first is bloody hard and it really isn't something to get into unless you have thick skin.....but once you get into your groove you really can make a lot of money and most importantly you will make money on a constant basis.
 

RedRenegade

Junior member
21 0
I think it is possible to do trading for a living... like if you work in a company. ;) At-home investors would need to know what they are doing. I do know someone whose sole job is trading from the comfort of their own home. He says he does it because he would rather earn what he is worth rather than slog away for someone else...
 

HowardCohodas

Experienced member
1,868 97
I think it is possible to do trading for a living... like if you work in a company. ;) At-home investors would need to know what they are doing. I do know someone whose sole job is trading from the comfort of their own home. He says he does it because he would rather earn what he is worth rather than slog away for someone else...

I make my living trading. By that I mean I pay for all my living expenses from my trading. It is not my only source of income, but I am retired. I do it because it's fun.
 

Pazienza

Senior member
2,334 442
I make my living trading. By that I mean I pay for all my living expenses from my trading. It is not my only source of income, but I am retired. I do it because it's fun.

Boll0x.

C'mon Howard, even if that is true, which it isn't, you've only been trading for a few months. A bit soon to be making claims about making your living from trading don't you think?
 
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Chartsy

Experienced member
1,129 82
Trading for a living....nah....

Get a fun job which pays ok, trade fearlessly knowing that trading isn't your sole income and you can be patient and not have mental breakdowns in a 2 month drawdown. Trade unaggressively into fortunes i say!
 

HowardCohodas

Experienced member
1,868 97
Boll0x.

C'mon Howard, even if that is true, which it isn't, you've only been trading for a few months. A bit soon to be making claims about making your living from trading don't you think?

So someone starting a new job and takes home a check every month to pay all his bills is not making a living with that job because he hasn't been at it long enough.

I think most readers would agree with me.
 

Pazienza

Senior member
2,334 442
So someone starting a new job and takes home a check every month to pay all his bills is not making a living with that job because he hasn't been at it long enough.

I think most readers would agree with me.

Only if they were stupid enough to think that someone starting a new job is in any way comparable to someone in their first few months of trading :LOL:.

At the absolute most, one could say that they have covered their living expenses for a few months. But even that isn't true in your case.

You really are a muppet.
 
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brettus

Experienced member
1,185 103
So someone starting a new job and takes home a check every month to pay all his bills is not making a living with that job because he hasn't been at it long enough.

I think most readers would agree with me.

That's like going down to the bookie and winning £10k on a £10 bet and saying you gamble for a living because you don't have a job.
 
 
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