Australian (ASX) Stock Market Forum

I can make 3 grand a day day trading!!!

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I can't stand to read some of this crap any longer without chiming in. I don't post on here too much as I prefer to be trading and spending time with friends and family instead of getting caught up in discussions with nuffies. ( I am not calling all of you nuffies....but there are plenty around!!!) Firstly I am not going to post any statements as I have no desire to prove anything to anyone except myself. So you can take this post any way you like...I don't give a toss. Let's talk in percentage returns instead of dollar return.
It is not too difficult to return 1-3% on your capital per day if you have half a brain in your head. And alot of screen time, commonsense and discipline.
I have a trading system that wins about 50% of the time ( I musn't be too clever as I get it wrong 50% of the time).
My average win is twice my average loss. I'm no super trader.
I risk 1% of my capital on every trade, because with a 50% win rate I have the potential to have a 14% max drawdown ( I wouldn't feel comfortable with a drawdown any larger therefore risk will stay at 1% of capital).
Lets hypothetically say my account is $100000.00.....therefore I am risking 1% per trade ( or $1000.00 ).
To attain an average gain of say 3% per day on my account( a $3000.00 gain on my $100000.00 account ), I would need to make 6 trades a day.
So I need to look for a market that will offer me 6 trades a day....are you beginning to understand? 3 of my trades will lose ( so i lose 3x1000 =3000)

3 of my trades will win( 3x2000=6000)
Wow I made a profit of 3000 a day on my trading account of 1000000.00.
It's not rocket science.By the way I make about 1% return per day. I have made 3% on days when I have spent all day on the computer stalking my trade setups but that just does my head in spending all that time inside. A footnote......to all the doubters....you will find it hard to be succesful trader with your current attitude. Look at what successful people do and try and emulate it rather than saying "thats bulls**t that cant possibly be done)
 
Guys with as much respect as I can muster you have no idea what you are talking about. None.

It seems your experience of markets are so limited we are, as I said above, talking to fish about climbing mountains.

I have never wanted to post my full trading here because its mostly irrelevant whether I make $100 per day or $10,000. I've tried to show a glimpse of what is possible in my scalping thread and other eye catching results with the odd statement. But its clear that the doubters simply do not understand basic maths. Above I posted what miserable numbers you need to make 3gs per day and you haven't even addressed it?

You guys haven't questioned the position size!
You haven't asked how those numbers relate to daily ATR.
What margining would be required to trade that size.
You haven't even had the brains to try and apply a sensible win/loss R:R to the numbers.
you haven't inquired about liquidity of such markets.

Instead you talk about 'staying awake 24hrs' and 'Every trade a winner.' and other list of laughable nonsense that only confirms how lacking your understanding is. Just apply some sensible maths. If after that you can come up with sensible numbers and you still don't believe or understand. Then we can start talking about proof. More than happy to. until then, until you guys open your heads and get on the same page by starting to understand the numbers beyond your silly lists we are wasting our time.
 
Trembling Hand said:
Guys with as much respect as I can muster you have no idea what you are talking about. None.

It seems your experience of markets are so limited we are, as I said above, talking to fish about climbing mountains.

I have never wanted to post my full trading here because its mostly irrelevant whether I make $100 per day or $10,000. I've tried to show a glimpse of what is possible in my scalping thread and other eye catching results with the odd statement. But its clear that the doubters simply do not understand basic maths. Above I posted what miserable numbers you need to make 3gs per day and you haven't even addressed it?

You guys haven't questioned the position size!
You haven't asked how those numbers relate to daily ATR.
What margining would be required to trade that size.
You haven't even had the brains to try and apply a sensible win/loss R:R to the numbers.
you haven't inquired about liquidity of such markets.

Instead you talk about 'staying awake 24hrs' and 'Every trade a winner.' and other list of laughable nonsense that only confirms how lacking your understanding is. Just apply some sensible maths. If after that you can come up with sensible numbers and you still don't believe or understand. Then we can start talking about proof. More than happy to. until then, until you guys open your heads and get on the same page by starting to understand the numbers beyond your silly lists we are wasting our time.
Click to expand...

There was a well documented case from a few years ago (have been looking for a link but can't find one) of a young lady:

Day trading stocks only
Trading long only

... and averaging $150,000 PER MONTH.

That's > $7k per day
 
wayneL said:
There was a well documented case from a few years ago (have been looking for a link but can't find one) of a young lady:

Day trading stocks only
Trading long only

... and averaging $150,000 PER MONTH.

That's > $7k per day
Click to expand...

Working off a capital base of $100,000.00???????????
 
Here's something I've quoted quite often on here FWIW

Which brings me to day-trading. In the popular press, day-trading has been given a bad-name. Everyone seems to think that those people who sit in sordid offices buying and selling stocks every minute and never holding over-night positions are no better than gamblers. And we all know how gamblers end up, right? Let me tell you a little secret: in my years working for hedge funds and prop-trading groups in investment banks, I have seen all kinds of trading strategies. In 100% of the cases, traders who have achieved spectacularly high Sharpe ratio (like 6 or higher), with minimal drawdown, are day-traders.
Click to expand...
 
Setting aside the smugness of some of the more experienced traders that is sneaking in and not getting into debates about which instruments you are trading and the risk return ratio's, the liquidity of the instruments and the spreads, you are not trading off a capital base of $100,000.00.
 
Trembling Hand said:
You guys haven't questioned the position size!
You haven't asked how those numbers relate to daily ATR.
What margining would be required to trade that size.
You haven't even had the brains to try and apply a sensible win/loss R:R to the numbers.
you haven't inquired about liquidity of such markets.
Click to expand...

These are the exact things I have been puzzling over for the past few months.

Trying to gain knowledge of those things in other threads. While trying to spread out my naive questions so as not to annoy people by asking too much.


This thread however, is quite odd, as it appears to be more about boasting than anything. So apologies for my straight up "how much do you make in a day question", I was simply trying to be inline with this thread. :)
 
FFS!! nulla do the friggin sums. To day trade HUGE positions with comparatively low risk you need VERY little capital.

10 SPI futs get you $1,000,000 exposure for a tiny $50,000 margin. You can trade $1,000,000 and risk 10 points which is only $2500 dollars. With the most basic position sizing you dudes are continually failing to think about you would only need a $125,000 account.
 
Trembling Hand said:
FFS!! nulla do the friggin sums. To day trade HUGE positions with comparatively low risk you need VERY little capital.

10 SPI futs get you $1,000,000 exposure for a tiny $50,000 margin. You can trade $1,000,000 and risk 10 points which is only $2500 dollars. With the most basic position sizing you dudes are continually failing to think about you would only need a $125,000 account.
Click to expand...

With all due respect TH, even in your response above you acknowledge that "With the most basic position sizing, you dudes are continually failing to think about, you would only need a $125,000 account". This is not $100,000.00.

Additionaly ,the brokers that you trade through, for the various instruments, will only allow you to have so many trades open in respect of the credit limit they place on your trades. Their credit limits are normaly determined by the size/amount of your funds lodged with them, the paid up positions you have open with them and any further allowance they make. Most day traders, with a capital base of $100k or less are simply not going to be allowed to trade in the manner required to generate $3,000.00 per day profit day in and day out.
 
nulla nulla said:
With all due respect TH, even in your response above you acknowledge that "With the most basic position sizing, you dudes are continually failing to think about, you would only need a $125,000 account". This is not $100,000.00.

Additionaly ,the brokers that you trade through, for the various instruments, will only allow you to have so many trades open in respect of the credit limit they place on your trades. Their credit limits are normaly determined by the size/amount of your funds lodged with them, the paid up positions you have open with them and any further allowance they make. Most day traders, with a capital base of $100k or less are simply not going to be allowed to trade in the manner required to generate $3,000.00 per day profit day in and day out.
Click to expand...

Don't know what your on about but go load up on say 10 crude contracts intraday for a cost of 26k US (intraday margin) catch a fast sweep down you'll see far more than 3k on your screen sometimes within minutes :eek:
 
-Bevo- said:
Don't know what your on about but go load up on say 10 crude contracts intraday for a cost of 26k US (intraday margin) catch a fast sweep down you'll see far more than 3k on your screen sometimes within minutes :eek:
Click to expand...

And you do this, closing out the profits, day in day out, never fail? You've closed out profits of $780,000.00 over the last year (less allowances for the days the market was closed and nomore4s took a sickie)?
 
nulla nulla said:
And you do this, closing out the profits, day in day out, never fail?
Click to expand...

I was pointing out that a trader with 100k could easily in theory make 3k a day there is ample moves there intraday in some makets to make it possible not saying I can do it.
 
Let's take another perspective.

Can someone with 10k make 300 per day?

I'd say many can swing that standing on their ear.

It's only a zero.
 
It looks to me as though Buddy Fox has retired from this thread and is probably lying on a beach somewhere, sunning himself and laughing while the rest of us either argue the toss or crouch over our computers avidly waiting for the next post to appear!!

I know it is possible to make $3k a day with a $100,000 base (hey! I do it every day in hindsight!!). I'm just nooooottttt quuuiiiiitte there yet.

Whether Buddy is having a lend of us or not I can't say, but the entertainment factor alone has made it worthwhile for me.

Thanks for the fun.

Ruby
 
wayneL said:
Let's take another perspective.

Can someone with 10k make 300 per day?

I'd say many can swing than standing on their ear.

It's only a zero.
Click to expand...

Well its not 300 a day but Brent Penfold is running a challenge using 10k.

The Challenge
To trade $10,000 into $20,000 within 3 months,
a 100% return with live trading,
in real time, with real money,
in real markets!
 
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