You hear that @deaddog he's callin you "average" LWMs, the Stock traders who started off as Day Traders seem to do VERY well.
LOL You like to stir things up. You must really be almost as bored as I am.. Average is better than below average.... and pretty damn good considering all the successful traders here on ET. There are a few of us who manage to live off our trading profits.
You are comparing trading profit to lottery. Some of us handle trading like a a day job or, rather a business, that we enjoy doing while we earn. We do not have extraordinary profit raining on us on just one day. We go through all the seasons and go about it like all others who handle their jobs. I am a profitable trader. Couple of years ago I had very good profit for several months due to commodity cycle. Now those commodities don't work the same way. I use that money as capital now and use similar strategies on stocks. Can I make more profit by scaling up? Maybe. But the point is scaling up increases risk. I can't say if it increases profit. That's why we don't aim for the lottery style approach. My Woodpecker works for me. So, instead of your click, click click, it is tap..tap.. tap... for us. Nibble..nibble...nibble.. In the process we earn monthly income, and, in the long run, make a nest too. PS: This is not to say our approach is better than yours, rather to each his own. Wide world of trading, varied approaches.
Whelp lets pretend with a huge stretch of imagination SML actually pulls off the impossible and hits on a method where clicking translates into an income stream, not a trickle, but a gusher. It's a gusher because dollars coming in far exceeds SML's living expenses. SML hits 2 million bucks in his bank account then calls it quits. Uh ohhh, SML's 'Bentleigh' needs servicing, the mortgage needs paying, SML's Ho needs constant servicing, babies are expensive to feed, coppers need paying off of the speeding tickets...... But da money has dwied up cause da tap woz turned off by SML who wanted to relax. Now SML is in deep shit. The holy grail money machine clicking technique tap requires turning on again.
Good Morning themickey, When my trading accounts reaches $7 million cash, I will quit day trading the ES Futures Market and stock investing and options trading forever. I will continue to dollar cost average TQQQ and SP 500 index only and take all the money out when I am 60 years old. I may continue Options Trading to see if I can make extra $1 or $2 million, but I will give it a few tries and quit it if I fail a few times. $7 million is more than enough for me to live a Rich lifestyle in America and enjoy the good life in America.
To make that kind of money day trading the ES you will have to put on 100+ lot trades in the ES at some point. Thats is 1000+ MES size equivalent. What is the biggest size you have put on so far? Are you trading more than 1MES yet. Have you got beyond Sim trading?
Up 10x YTD, does that mean I am successful ? Nope. I am still an EliteSucker.com A bunch of Wizards went broke. Failure waits around every corner. You can withdraw more than you deposit, But you can never be "successful" or a Wizards. The greatest successes often become the greatest failures. Pin it.