Average Weekly Earnings

[tomorton]

Average Weekly Earnings in the UK are around £500 (recent figures, Office of National Statistics).

Who earns at least this amount from trading?

(I don't).

 

[brettus]

Average Weekly Earnings in the UK are around £500 (recent figures, Office of National Statistics).

Who earns at least this amount from trading?

(I don't).

About that, not much more. I don't do it for a living though. That's £500 before tax right?

 

[tomorton]

Cheers brettus - Earnings is after tax.

 

[brettus]

Cheers brettus - Earnings is after tax.

That would suggest average yearly wage is like £32k. I thought it was alot lower than that. Like £25k.

 

[BlackBison]

i made £16,500 last month tax free

 

[HowardCohodas]

The median weekly income for my state (Ohio) $919.

I consistently earn more than that just from trading.

 

[brettus]

The median weekly income for my state (Ohio) $919.

I consistently earn more than that just from trading.

That's about £500 after tax i reckon.

 

[Pazienza]

That would suggest average yearly wage is like £32k. I thought it was alot lower than that. Like £25k.

It is around £24.5 K p a before tax.

 

[montmorencyt2w]

I was doing so for part of last year, but not consistently (although only drawing a fraction as income - I was trying to build the account).

Certainly not at the moment. The aim is to get back to that sort of level, but with less risk and therefore less stress. I needed to take a break to re-think, which I have now done (the break, that is ... the thinking continues ).

I have the "luxury" of not needing to trade for a living, which could be seen as both an advantage and a disadvantage.

This was with spread-betting, mostly FX, with the occasional foray into gold, oil, and stock indices. Gold was both a triumph and a disaster It's too painful to relate, but not for the first time did I learn to treat that lady with respect.

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

£500/week after tax sounded a bit high to me as well, for average national earnings.

 

[Pazienza]

I have the "luxury" of not needing to trade for a living, which could be seen as both an advantage and a disadvantage.

This would be a huge advantage for me. In fact, at my current state of development as a trader I can't think of anything that would have a more beneficial effect on my returns.

 

[Jock Strap]

It is around £24.5 K p a before tax.

which equates to about £475 per week before deductions, so definitely before tax...

 

[meanreversion]

i made £16,500 last month tax free

That's always pleasant, keep it up!

 

[BlackBison]

That's always pleasant, keep it up!

yea lets hope i havent just jinxed myself..

 

[meanreversion]

No, you're ok.. all you said was what you made last month, fate can't retrospectively change that. You did not tempt fate by going on to suggest this performance would continue.

 

[montmorencyt2w]

This would be a huge advantage for me. In fact, at my current state of development as a trader I can't think of anything that would have a more beneficial effect on my returns.

Take the stress off you, you mean?
I know that I personally could not live with that stress.

However, others seem to, and I have seen the view expressed that you need that stress to perform best.

 

[Pazienza]

Take the stress off you, you mean?
I know that I personally could not live with that stress.

However, others seem to, and I have seen the view expressed that you need that stress to perform best.

Not so much stress, I've conquered that really.

I meant more that it would remove any urge to trade. I can let myself down during slow periods ("slow" is very slow for me, 4 or 5 trades in a week would count as busy), but if there was no need to trade I wouldn't have any problem with patience.

I rarely have a loser that I don't deserve, and it's only really impatience that leads me astray now. The first 3 weeks of this year have been dull, and I've taken a couple of stupid trades as a consequence. One I got away with, one I didn't. Had I been able to exercise more patience, I'd be up about 6% instead of around 3.75% for the year so far.

 

[traderman1]

Average Weekly Earnings in the UK are around £500 (recent figures, Office of National Statistics).

Who earns at least this amount from trading?

(I don't).

I do.

 

[traderman1]

Average Weekly Earnings in the UK are around £500 (recent figures, Office of National Statistics).

Who earns at least this amount from trading?

(I don't).

I am sure that there are others here that earn more than £500 per week. But maybe they are too shy to admit it.:cheesy:

 

[tdrtw]

>>I am sure that there are others here that earn more than £500 per week.

I would be more concerned about average % gain and % draw down than a set amount per week. Once you have expectations it can set yourself up for failure as you mentally want to meet those expectations in an environment you have no control over (but only control over yourself).

That being said, me personally - my expectations are that I stick to my system - as this is what I can control. Whether a winner or a loser is irrelevant as long as my rules were followed. If I don't lose any money for the month, I consider that great going (this in itself is an expectation which I don't like having). Anything else a bonus.

One thing I can attest to over time, is EVERY time my rules have been over ridden by myself, it ALWAYS cost me profits. I have never had a time that I could honestly say I over rode my system and made money.

>>I am sure that there are others here that earn more than £500 per week. But maybe they are too shy to admit it

Traderman1, that is probably very true ;-)

 

[traderman1]

> If I don't lose any money for the month, I consider that great going (this in itself is an expectation which I don't like having). Anything else a bonus.

If I was earning less than £500 per week, I would be doing something else.