jammixmaster
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I know how hard it is. I'm a day trader as well, started when I was 18. I may have only been trading for a year and some odd months but I understand that buying a lambo is still years away.
Financial Independence in the FOREX market
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NetTecture
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Well 
I did not want to make false hopes. Heck, given my current simulated trading (always well prepare before entering the markets) I am still getting too exctited and make needless risks Time for more training.
But, look ahead above daytrading. I love that, too. But over the next 12-18 months we should possibly see some significant moves in stocks recovering (though not possibly yet) as well as.... oil
If one takes some of those larger moves... you can possibly take some serious money our of longer term positios... that START as day trading positions and just are kept open
That all said, it depends tremendously on your capital. Once you know you have theedge, you need to accumulate enough capital to make trading something that allows eing worthwhile. Lets assume you make 1% a day on average. This may be good, may be a little conservative.
That is 20% a month. Well, 21% if you cound in holidays, 22% if you work non stop, but traders should have some fun too, so let's say 20%.
If you swing 10.000 USD you will get 2.000 USD per month. Deduct costs - not a good living to start with. Does not work.
Swing 25.000 USD and you maange to make 5.000 USD a month. Quite a good living, but you will not talk of lambo.
Swing 100.000 USD and you make 20.000 USD a month. That is enough to have a good live AND grow your account significantly. Do not buy a lambo and you get soon into a 200.000 USD account unless you spend crazy.
I can not overemphasis this. Make sure, before commiting, you can live from not too risky deals, comfortably. Helps having a job paying more than 100.000 USD net after taxes and no living expenses thanks to a company on the side, which is what I do
But then, when you swing in excess of 100.000 USD - and manage to keep your profiles - you have a chance. That is, if you can control the psychological side, do not go crazy and are one of th e few with a real edge.
I did not want to make false hopes. Heck, given my current simulated trading (always well prepare before entering the markets) I am still getting too exctited and make needless risks Time for more training.But, look ahead above daytrading. I love that, too. But over the next 12-18 months we should possibly see some significant moves in stocks recovering (though not possibly yet) as well as.... oil
If one takes some of those larger moves... you can possibly take some serious money our of longer term positios... that START as day trading positions and just are kept open
That all said, it depends tremendously on your capital. Once you know you have theedge, you need to accumulate enough capital to make trading something that allows eing worthwhile. Lets assume you make 1% a day on average. This may be good, may be a little conservative.
That is 20% a month. Well, 21% if you cound in holidays, 22% if you work non stop, but traders should have some fun too, so let's say 20%.
If you swing 10.000 USD you will get 2.000 USD per month. Deduct costs - not a good living to start with. Does not work.
Swing 25.000 USD and you maange to make 5.000 USD a month. Quite a good living, but you will not talk of lambo.
Swing 100.000 USD and you make 20.000 USD a month. That is enough to have a good live AND grow your account significantly. Do not buy a lambo and you get soon into a 200.000 USD account unless you spend crazy.
I can not overemphasis this. Make sure, before commiting, you can live from not too risky deals, comfortably. Helps having a job paying more than 100.000 USD net after taxes and no living expenses thanks to a company on the side, which is what I do
But then, when you swing in excess of 100.000 USD - and manage to keep your profiles - you have a chance. That is, if you can control the psychological side, do not go crazy and are one of th e few with a real edge.
HaloTrader
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'Still years away', probability says its never. Especially for someone whos main goals are money, which i think is a primary hold back for many traders, obsession for money and cars rather than focusing on consistancy and good trading. I use to be so obsessed with making money that i'd be crushed by a loss because i felt it had set me back several months.
If a trader cannot make money within 6 months, they may eventually make a nice living, but never own a Lambo. (In my opinion) Because the certain restrictions disabling them to learn quickly will be innate forever until they understand them and that can take forever, especially for the youth.
-Halo
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