So what do you make a day on average ?

Not arrogant at all.

Consider for one moment the risk to capital from trading. If you are only making £50 per day (as per wiseguys post) then effectively given the number of trading days thats £10,000 per year.

You would do better on the dole...

You could do a menial job for twice as much without the risk of capital loss, or cardiac arrest.

£50 per day simply isn't worth it and you are fools if you think it is. Now I am being arrogant.

JonnyT
 
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Surely if £50 a day (on average) is achieveable so is £100 or £500. I would assume you just buy more contracts or raise you punt a point, obviously capital allowing.

Enzo
 
I would have thought that there are plenty of people here in the UK that are earning less than £20,000 p.a and don't consider their jobs menial? Just because a job doesn't pay well doesn't mean its easy or menial as our trainee teachers or nurses will probably atest too.
 
You can't seriously discuss earnings per day without any reference to the amount of capital employed and the positive expectancy associated with that capital...
 
$500 per day MUST be achievable!

ewilcox, I suspect JonnyT was merely trying to illustrate a point and wasn't expecting his post to be interpreted quite so literally! :cheesy:

As someone who fits into the bracket of doing a 'menial job' and earning a LOT less than £20K, I would be very ****** off to think that I couldn't earn from trading the sort of sums quoted in roguetraders post. Trading is my 2nd job which, one day, I hope will enable me to give up my menial day job and enjoy a better standard of living. If I thought for one minute that $500 per day wasn't attainable, I'd stop right now and look for something else. Besides, there are loads of people on these very boards who make this kind of money. I trade U.S. stocks and, as such, I look to Mr. Charts and Naz for guidance and inspiration. Both, I believe, make well in excess of this figure on average every trading day.
Tim.
 
An example . . .

Just to illustrate the point, check out this short EBAY trade by Naz for a $5.70 profit per share. Now, I've no idea how many shares he traded but, for the sake of argument, as it's a high priced stock - let's say 500. If my maths are correct, that's $2,850 profit on one single day trade!

http://www.stocktrading-online.com/index.php

Tim.
 
Just a casual obsevation on this post, I notice a lot of interchange between currency quoted from post to post, some blokes are talking USD and some GBP. That makes quite a difference to your expectations particularly with current exchange rate.
 
What about emasiello's point — if you've got a consistent edge with one contract, even a slight one, then achieving £500 a day must be a matter of doing three things:

1. Increase your number of contracts to achieve £500/day
2. Capitalise your account so your risk/account fits your guidelines
3. Cope psychologically with the extra size

As the numbers scale linearly what else is there to do? Apart from the obvious like maintaining your edge etc. which would apply at any size. I'm assuming we're talking about a number of contracts that will get filled easily. Your edge would have to be wafer thin to need so many contracts to get £500/day that you didn't get filled on a big liquid instrument, yes?
 
i think it really depends on the instruments & capital you're using. As blackcab said it's all fitting it together to get this right. I for example used to trade warrants with a very high leverage . I would sometimes make £500 a day - but I didn't realise that the probability of doing this all the time was pretty low. Needless to say the instrument I used had to be changed (or at least the leverage issue had to be resolved).
 
You`re right Tubbs.........its not that easy. It has been said that 9 out of 10 traders lose money; would that be about right?
For the rest of us its 2 steps forward and 1 1/2 steps backwards, apart from those few that are always right.
 
why not sign on AND trade , own boss and all that better than the 9-5 grind for a measly 13,000 quid.

the fact is not if 500 quid a day is attainable , anything is, even 5000 quid a day , but what is the RISK cap you are putting up ? that is the point .

and if it's scalping nonsense we are talking about , 500 quid a day is not that much when you factor in the risk and the cost eg ) the cost of your exchange seat or bucket shoppe fees , which would come close to 100,000 quid for the year .

scalper glamourisers tend to leave these facts out conveniently .

and you can still LOSE when scalp , no guarantees in trading .
 
Gentlemen,

I have made $ 2000 per day and more, but my average per day has been -$100 per day.
Recently signs before the numbers have changed from $ to £.

I do hope that nobody else on this thread can beat my achievements


Gully
 
not the per day wins that is in contetion here , " gentlemen " , but the overall return to capital , and the risk you take with each one trade .

no point making 10,000 one day and then losing 2,000 for the next 7 . any fool can do that , called gambling , you still lose , go figure.
 
yeah Gully, look what wisest says........but we all got to learn

and wisest, what about all those hours spent on "trading"?
 
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vetten,

yes , hours spent trading and researching is work time , but I for one would rather that than hours spent working for some idiot boss , or politicking in the office as is required by corporate custom or trying to fill my time time at a deadend job.

and far be it for me to tell others what to do , these are just my honest views , that's all.
 
What you say Wisest is alright if you are doing trading and researching in your free time after coming home from your job............but if you are trading full time, somebody got to pay the bills before even worrying about your rate of return on your capital employed..........
So I think it should be AT LEAST income to pay the bills (that`s what? $ 30k, 40k you fill it in) PLUS an adequate return on capital used in trading PLUS costs (brokerage, news, computer, telephone, ISP etc).
Not many people get there, but I`m getting better in that respect.
If it`s a hobby, naturally income to pay the bills will come from other sources, so as long as you have a decent return on your capital employed after deducting costs, yo`ll be alright.
 
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