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Before Christmas I had the bright idea of quickly calculating how much it would take to go from a typical 9 to 5 job to trading full time. I admit, I was grossly conservative in my calculations. So much for doing things on the back of an envelope as your professors tell you [...]
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11 months ago
No day trader will make these numbers on a consistent basis. Over the long term the market will yield a return that's in the high single digits. Even if a day trader is able to double or triple this you don't get close to your numbers. And even that is optimistic; even good day traders will lose money some years.
You'll need a lot more capital and a lot more patience than your calculations indicate.
11 months ago
I believe your return rate is too optimistic.
I think its important to realize any down months. Thus I feel anyone reading this article or blog should really focus on a 5%-8% percent return - even at that level you're going to have a -20% annual return.
So be fair warn and cautious on where you're going to be putting your hard earn ALREADY TAXED dollars.
The stock market reality is much darker that most professional plays them out to be.
Good luck investing - you'll need it.
11 months ago
11 months ago
11 months ago
10 months ago
10 months ago
Not a problem, hah! As with everything, no calculations that are somewhat subjective can be perfect. It does give a relatively realistic starting point though. I should work on making some sort of calculations with historical monthly data but I think that's outside my reach. In any event, glad you enjoyed it and good luck!