1000 a day?
Is it possible to do 1K a day with a smaller account?
The simple answer is, "Yes it is". If you have a good plan and tradable, execution levels where you are disciplined enough to be able to take a number of stop outs before you hit your stride it is indeed possible.
For most though this is not something to expect regularly. To do this you must expose your account to serious risk. There simply is no other way. I played the Oil news release today and it worked out very, very, well. The prices stuck to my levels that I had defined long before the news release and it resulted in well over 60 ticks for the day. Coupled to my trades in the indexes where I recognized quite early that stops would be run to the upside it resulted in about a 1K day on a 10K account. Almost 10%.
The problem is not so much doing it but rather expecting it daily. You simply can't do this regularly. You thank your lucky stars and you go back to trading where you expect much less. 2-400.00 a day is a much more reasonable expectation.
Today I took about 4 losses on 10 trades. The day did not start well. It finished very well. I don't know can you take 2-3 losses in a row? What about four?
You should be able to. Your system should reward you for only being right 25% of the time. If you are grabbing quick profits you are going to be pasted at some point. Your risk is always a factor. You must be consistent this way. All it takes is one lapse of your brain against the algo's and you are toast. Your account takes a brutal loss and you are in catch up mode for the rest of the year that is "If" you can.
Anyone telling you that day trading is easy is not telling you the truth. Anyone telling you that you don't need to learn how to do it before jumping into the market is also not telling you the truth.
I will be taking some trades for everyone to see over the next little while. I think video learning is a good way to watch and learn too.
The simple answer is, "Yes it is". If you have a good plan and tradable, execution levels where you are disciplined enough to be able to take a number of stop outs before you hit your stride it is indeed possible.
For most though this is not something to expect regularly. To do this you must expose your account to serious risk. There simply is no other way. I played the Oil news release today and it worked out very, very, well. The prices stuck to my levels that I had defined long before the news release and it resulted in well over 60 ticks for the day. Coupled to my trades in the indexes where I recognized quite early that stops would be run to the upside it resulted in about a 1K day on a 10K account. Almost 10%.
The problem is not so much doing it but rather expecting it daily. You simply can't do this regularly. You thank your lucky stars and you go back to trading where you expect much less. 2-400.00 a day is a much more reasonable expectation.
Today I took about 4 losses on 10 trades. The day did not start well. It finished very well. I don't know can you take 2-3 losses in a row? What about four?
You should be able to. Your system should reward you for only being right 25% of the time. If you are grabbing quick profits you are going to be pasted at some point. Your risk is always a factor. You must be consistent this way. All it takes is one lapse of your brain against the algo's and you are toast. Your account takes a brutal loss and you are in catch up mode for the rest of the year that is "If" you can.
Anyone telling you that day trading is easy is not telling you the truth. Anyone telling you that you don't need to learn how to do it before jumping into the market is also not telling you the truth.
I will be taking some trades for everyone to see over the next little while. I think video learning is a good way to watch and learn too.
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