...if you have tried to go full time in the past but now you are not doing it full time, please explain what happened.

To be a full time trader, dependent upon the proceeds of your trading, don't you need to be taking a $40k/year OUT of your account. (And thats only a $20/hr equivalent.)

If you start with $100k, make 50% every year, take $40k out for living expenses every year, it takes you 5 years to double your money to $200k!

If on the other hand you start with $200k, make 50% every year, take $40k out for living expenses every year, it takes you just over 2 years to double your money to $400k!

I just don't see how the math works for full time, earnings dependent traders, on smaller amounts.



Full disclosure, I worked on what people here would call an institutional desk for about 17 years, and have been a solo independent proprietary trader for the last 14 years, whose only income stream is trading. My starting capital was significantly more than the numbers been discussed in this thread, and my median return lower than being discussed. I hate to burst peoples bubbles, but I think the path of a undercapitalized (or low-capitalized) independent full-time trader, without significant market experience (ideally pro-experience) is a very difficult and dangerous one, with a very low probability of success. That's not to say you can't make good money though, but maybe the Nick Radge philosophy quoted above is the better way to go.

Their podcast is good, I have one of their courses, I am thinking of getting more of their classes, would you recommend them if so which ones and have you taken any of their stuff?

Hi @Salao,
If you look at [Big Mike's] statements from 2015 (posted in the forum somewhere) in February 2015 he started with 32K and ended the month with 90K. But things have changed, now you can do exactly the same with micros, so you can turn 3K to 9K in one month if you know how to trade.
Micros are 2x to 3x more liquid than minis now so in theory this is definitely doable.

Since I posted the account value I feel it necessary to remind everyone it's a good idea to keep the minimum required at the broker to run your business.

However, it doesn't mean that is the entire amount I consider to be my trading capital or at-risk money. This is crucially important to understand. If you don't understand this, then you will be in for a world of hurt trying to focus on the useless percentages generated solely on that report data, and then duplicate or apply to your trading.

Sent from my phone