Do individual day traders make money
I only care about you. Not because it will make you happy. But like J Park, are you willing to put in the hard work for two years before seeing any results or will you take the easy way out like those poor souls trading the Forex in France?
The level do individual day traders make money uncertainty can be unbearable if you have never gone without a steady paycheck. If you let one of those moments have too much control then you are bound to be mostly miserable. The Series 7 will give you the license to trade. See how you can learn to to trade stocks, futures and bitcoin risk-free.
But, one fo the first do individual day traders make money I tell new traders is before you do anything, make sure you can turn a profit. So let's break down the numbers in layman terms. On average, I would say a trader in New York working for an investment house can make between k and k day trading if they are above average. What you will notice is that I break down how much you can make based on trading for 1 a company, 2 prop firm and 3 yourself. You will not enjoy the same low tax rates of long-term investors like Mitt Romney.
I was mostly miserable during the period I was day trading. As your account value increases, the commissions paid as a percentage of your profits will decrease. Just to go do individual day traders make money to the study I cited earlier from France, the study did not track performance relative to a person's trading experience. Good and bad days happen. Since you are likely trading the proprietary firm owner's money, the pool of fundsyou have access to is limited.
But because I like when people read my posts. The key is that you can take larger and larger risks if you work on better and better ways to deal with those risks. But life is about a billion little moments that add up to all the things around you. In day trading, more effort does not equal better results.
Let's break down why you need k to make it in day trading. What do you think your odds of success are if you only have 80k in an account for you to survive this two to three year learning period? Doesn't sound like much fun if you ask me. Then read this blog post again. You can make enough money to not care.