Average earnings

Armyofone

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I have read that most day traders lose money YTD after taxes and commission are paid.

Is this to keep day trading a secret or to stop shorting the market?

I have been doing paper trading for 4 months now and I’m up $7000.00, starting with $20,000.00, but it has been done through riding the momentum of BS advertisement of penny stocks and getting out ahead of the crowd.

What are the average earnings after all expenses are paid?
 
Depends on you capital pot and your aversion to risk, how often you trade, eg: 1 trade a day, morning or afternoons or 24/7, as well as the number of lots you trade 1,2,5,10 or more, at the end of the day, only you know what you want to make out this business and whether you have the knowledge and experience to make it pay, you have to gear yourself accordingly, but don't get greedy, got a knack of biting you on the ass when you least expect it.
 
I have read that most day traders lose money YTD after taxes and commission are paid.

Is this to keep day trading a secret or to stop shorting the market?

I have been doing paper trading for 4 months now and I’m up $7000.00, starting with $20,000.00, but it has been done through riding the momentum of BS advertisement of penny stocks and getting out ahead of the crowd.

What are the average earnings after all expenses are paid?

On average people bet 2% of their pot per bet and if you can average winnings of 2% of your pot per day you are doing OK imho
 
On average people bet 2% of their pot per bet and if you can average winnings of 2% of your pot per day you are doing OK imho

At 2% per day you could double your pot in 35 days.... that's considerably better than OK in my estimation!
 
Paper Trading<-------------------------light years------------------------->Real Money Trading
 
I have read that most day traders lose money YTD after taxes and commission are paid.

Is this to keep day trading a secret or to stop shorting the market?

I have been doing paper trading for 4 months now and I’m up $7000.00, starting with $20,000.00, but it has been done through riding the momentum of BS advertisement of penny stocks and getting out ahead of the crowd.

What are the average earnings after all expenses are paid?

P.S I'm pretty sure Timmy Sykes used the other end of this strategy, and I'm pretty sure he blew up.
 
he did, there is a video on youtube of him being interviewed about his new book...he is pretty drunk and abusive...yeah is very funny.
 
true - very very true!

Paper Trading<-------------------------light years------------------------->Real Money Trading

I know its an OLD OLD thread - but I gotta comment on this - its just plain too funny - after 4yrs of trading - I couldn't have put it another way - so simple - yet so TRUE!! - paper trading and real trading are "light years" away......it just cracked me up!!! to see the way it was posted. Very wise.
 
Spot on!

Paper Trading<-------------------------light years------------------------->Real Money Trading

:LOL: Exactly, precisely! All these people should do ok as long as they stick to sipping paper Piña Colada's while sailing on their paper yachts. :LOL:
 
Can we please ban anyone who asks this question in future.

If there was a poll and sticky post then all newbies like myself would not need to keep asking the same question.

I would do a poll but dont know how to do it.

Its only natural that someone new to this wants to understand if profits can be made and how much realistically can be made.

It could read something like

How many trades a day do you do ?

How much do you have in your account on average ?


How much do you make on average a month

a) Beer Money
b) Less than beer Money
c) Monopoly Money
d) £100
e) £1000
f) £5000
g) £10,000
f) £50,000
h) £1m
i) £100m
j) £1bn
k) £100bn
l) £10000bn
 
If there was a poll and sticky post then all newbies like myself would not need to keep asking the same question.

I would do a poll but dont know how to do it.

Its only natural that someone new to this wants to understand if profits can be made and how much realistically can be made.

It could read something like

How many trades a day do you do ?

How much do you have in your account on average ?


How much do you make on average a month

a) Beer Money
b) Less than beer Money
c) Monopoly Money
d) £100
e) £1000
f) £5000
g) £10,000
f) £50,000
h) £1m
i) £100m
j) £1bn
k) £100bn
l) £10000bn

It should be clear to anyone with a brain that profits can be made. It should be equally clear that asking someone to tell you what they take home in a year is a pretty direct (not to mention rude) question, and one which most professionals, I would imagine, would choose not to divulge.

Knowing what someone else makes in a year trading your market has no bearing whatsoever on what you will make. None. If people would spend as much time in front of their markets as they did on T2W asking other people how rich they were, they might get there a little quicker.
 
It should be clear to anyone with a brain that profits can be made. It should be equally clear that asking someone to tell you what they take home in a year is a pretty direct (not to mention rude) question, and one which most professionals, I would imagine, would choose not to divulge.

Knowing what someone else makes in a year trading your market has no bearing whatsoever on what you will make. None. If people would spend as much time in front of their markets as they did on T2W asking other people how rich they were, they might get there a little quicker.

I thought I had a brain(yet to be proved or disproved) but that aside there are many schools of thought out there for day trading from 99% make a loss, its a zero sum game and its only a matter of time till you reach zero, you cant beat the market, there are professionals with far more information than yourself....etc.

Hence you begin to wonder if this is a zero sum game.

When I first started I was not sure.....I've been equity trading for years (but just buy and hold).

Now doing full time trading, I've been making consistent profits and good ones but there are still some days that you doubt whether it is a zero sum game or not.

I suppose the newbies or who ever asks the question is looking for reassurance that their chosen path, given hard work and some intelligence would lead to rewards.

Its not really about 'how much people make' but more so do people consistently make a profit. We all have different resources at our disposal and different perceptions of risk and therefore comparison of absolute values is useless. But if someone say they make a grand a day, then you know in the long term if you accumulate sufficient capital this is not an unreasonable target to head for.

A grand a day may or may not be a lot of money to some people on this board.

Certainly my wife doesn't think a grand is a lot of money.

For those that are new to trading, it at the very least provides motivation that consistent profits can be achieved.

We should follow the Italian approach and allow everyones earnings and tax records to be viewed.....then you could just go and look it up on the Internet.
 
Will you stop going on about your bloody wife?

Clearly trading isn't a zero sum game, is it? If you think about it maybe you'll figure out why. I can't be bothered speaking to you any more, you are an idiot.
 
How much money on average do cashiers at Waitrose make? We could make a list:

A) You're pathetic
B) You trade an £80 account and want Bloomberg
C) Your axe of a wife needs to realise she aint shopping at Harrods since you lost your purchasing manager's job and decided to give trading Apple a bash
D) All of the above
 
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