Realistic daytrading

[feb2865]

	Quote:	ant
	Nice post Raul!

Thank you Ant

[artp01]

I think if one looks at a desired figure then that will not be the correct approach. One should concentrate on trading only, how much you earn will be decided by your effort only.

[Reaver]

	Quote:	artp01
	I think if one looks at a desired figure then that will not be the correct approach. One should concentrate on trading only, how much you earn will be decided by your effort only.

I agree. While of course with trading being treated as a business, it is always necessary to have a profit goal, I believe that setting profit quotas, etc is something to be worries about only after you know you are consistently profitable (I'm not saying you aren't already, just speaking in generalities). My idea is to trade as an adjunct to my normal job (I work 1-930 at night, so I can be present in the market to observe, etc) until I know I have built enough capital and consistency to make it full time. By that point, I plan to have set up a business model including profit goals, etc. Sorry if I went off on a tangent.

[Kiwi]

If you had an account with $10,000 in it you could trade 2 HSI contracts for a realistic return (if you are trading well) of $1,000 per day on about 10 trades. So thats 10% per day.

HSI is thin though so scaling up is the issue.

The other challenge is consistently trading well (that's actually the real challenge).

[MPBigley]

Hello Syamster:

I read through some of your posts on this board, and like you was getting started in day trading equities. I noticed you posted a few months ago and was wondering how you have been doing? It seems we have similar parameters and I was wondering if you were meeting your 1.5 to 2 % daily goal? What have been your biggest hurdles, obstacles? Successes? Would enjoy hearing some of your beginner experiences if you have time to post them. Thank you.

MPBigley

[Dr Who]

	Quote:	syamster
	Hi, What percentage do you look to make on a daily or weekly basis. For example, if I invest 10,000 which would give me 40,000 of buying power, is it realistic to think I can make 600 - 800 per day? Or 12,000 - 16,000 per month. If these numbers are not realistic, please tell me what is. Syamster

Syamster,

The first goal should be capital preservation. The second goal should be maintaining capital preservation. The third goal should be profit only after you have learned to maintain your capital preservation.

Anything else is a gambling mindset that may be ok for a while but will surely see disaster in the long run.

[nicknextmove]

Kiwi,

What is a HSI contract - what is the underlying?

Thanks much.