$100 a day

[aBadTrader]

Haha yes - math is not my strong suit, if I had one.

No when I say $100 daily I don't mean a guaranteed one trade win. I meant more $100 daily averaged out over the course of a year. So by the end of the trading year I would have averaged $100 a day. I also had, in my simple mind, the idea that risking $100, or 0.1% per trade was a sufficient risk, depending on market conditions and volatility.

I'm just a beginner. Doing my best to learn, and if the prospect of a side income could arise from it, then why not dedicate time to it

Sorry I don't mean to sound naive, I just am! haha I think what keeps drawing me back to trading is the entire idea and function of trading is just so wonderful to me. Much like someone who has a huge interest in motor vehicles, I have this fetish for trading Whether I am good at it is a story for another day - I don't attest to that. What I can attest to is the amount of help I have gotten from this forum and its members. Extremely grateful for the time spent.

 

[So_Cynical]

For them ore experienced traders here; what sort of account size would you ideally be comfortable with in order to comfortably and emotionless create $100 daily.

Needless to say that my goal is to generate a side income from trading since I work from home anyway.

Just did my tax so have the numbers, i created $112 per day last FY, 5 day week from 190K

A fairly typical year, i average around 15 - 16%

 

[ukulele]

Pretty nice results there cynical!!!

 

[Gringotts Bank]

Just did my tax so have the numbers, i created $112 per day last FY, 5 day week from 190K

A fairly typical year, i average around 15 - 16%

Well done - what sort of work are you doing to achieve that? I mean how many hours/month?

 

[tech/a]

Unfortunately less tax.
If this is added to your income if you have another source
that can take a hefty whack.

Tax the Bain of my life.
I work out how to be a little better off than most and the
Tax man rubs his hands together as he whips away copious
amounts of my hard earned. (We) become AAA workers for
the Aussi Tax man!

Fade in Violin and orchestra!

 

[So_Cynical]

Pretty nice results there cynical!!!

I was impressed, first year of my new strategy worked well, only a few trades that didn't get the CGT discount.

Well done - what sort of work are you doing to achieve that? I mean how many hours/month?

Thanks - the work really just involves looking at stocks and one thing leading to another, as for time its probably only about 6 to 8 hours a week, if i have spare time i tend to spend it looking at stocks and thinking about whats the best move from here, whats coming up - decision forming.

I usually start by just going over my watch lists and portfolios, looking at what is falling and thus should i be buying that, looking at what has gone up and should i be selling some or all of that, then focus in on a single stock and try to understand why the price is behaving as it is and is that an opportunity, whats the outlook, the PE, the yield etc etc etc.

Unfortunately less tax.

Yes before tax - im not in the top bracket (but very close) so will only pay 32.5c in the dollar and only on a bit less than a third of my $112 per day.