38. Profit Expectations: What Millionaire Traders Know

[dalv11]

If i have a solid portfolio, what's the next step in finding someone to back me with money?

[FutOpsTrader]

100 + 300 = 450 ?

[dwranson]

Thank you very much for this video. Excellent material.

[georgiewilliam]

Are you a millionaire yourself dave?

[PimpMyFahrrad]

Obviously, the percentage of money you make depends on how much time you spend trading? I mean, you say 30 percent in 1 year - is it 15 minutes a week or 24/7?

[Hillbillygoob]

Dave-is it realistic for someone in the Forex Market who is a seasoned veteran trader, to make $1000 a month with $10,000 in equity. Basically a 10% return each month. Again talking about someone who has been studying and practicing for a year.

[PimpMyFahrrad]

@Hillbillygoob if you would have been practicing for a year, you would already know how much money you would be able to make. A seasoned veteran trader, you say?

[freeSCALPINGindicato]

I got free SCALPING indicator - stable PROFIT 273 out of 300 trades

[masterpatric07]

maybe correct use of leverage and a little luck allowed the guy to do it.it is possible.

[thesexyfinancialshow]

check out gafnn site for traders created by a playboy model from women of wall street ,she's always on it chatting if you need advice!really cool site google gafnn

[FreeFOREXautoROBOT]

Thanks for sharing!

I like Forex Robot - I got one free

[TubeScavenger]

2% of $5mm is $100k and 20% of $1.5mm is $300k. $100k+$300k = $400k. Where does the extra $50k come from?

[hightorque13]

Has anyone considered getting an account with zecco. There is no minimum deposit needed to open an account.

[Yurasik]

In my view, 20% per year is the minimum return of any profitable trader, otherwise there's really no point - why risk drawdown when you can get 10% in an index fund - set and forget? I wouldn't say its the "top" of traders. Second, there are enough stories of traders who can double and triple their accounts in under a year. Problem is you really have to do it full time and be high frequency. I mean, what's the point of day trading if you earn a paltry 20%?

[eueueueu21]

30%year is 2.5% per month...0.083% per day...

wich with a 5.000$ means 4$ per day...i mean... cant u do that with your eyes closed ???

[OilTrading]

Greetings my friend, just wanted to let you know not to trade the forex market, watch my forex video and you'll see it's a scam.

I'm trading Oil now, if you haven't tried it you may want to, it's the best thing I personally have ever found, I'm able to trade it everyday and make money, and do so in a very precise way.

Sincerely,

David

[MrGripperz]

I know a trader who has made 150k GBP in 7 months in the UK.

[Frankenpalin]

check out Jacko on Forex Factory, he traded less than $3000 into $500 000 in 6 months and he did it live with a shitload of witnesses

[MrGripperz]

is there a link ?

so i can watch

[joshuademoraes]

@Frankenpalin that was " lucky" nothing more....to be realistic, 5 % a month is a good goal...

[Frankenpalin]

@joshuademoraes sure 5% a month is reasonable but 6 months of consistent success isn't luck at all if you check out his method but he was an experienced trader beforehand.

I haven't checked on him in a while but he's probably making an ass load of money on the short side of the EUR/USD right now, that was the only pair he traded when I found out about him.

[Frankenpalin]

@joshuademoraes personally I shoot for 1% a day in short term breakouts when I'm active (London session + overlap) but I'm not crazy about the lifestyle because I live on the west coast....and it's like being a gerbil on a wheel.

[Boogers4dinner]

That's very inspirational news. I love to hear stuff like that. It motivates me to wanna become a better investor and possibly have the potential to be one of those successes that you just mentioned.

[nepalihercules]

@MrGripperz i make about £950k in a year

[highon74]

@MrGripperz

that doesn't say much.. you need to say how much he started with. 150K on 150K is much different than 150K on 1,500,000

[abedsak]

hi david i have been watching all your videos and i have a question: if somebody has made a profitable trade somebody else had lost that same money, eventually the losing gay will get out of the market, so how traders can still make money in the long ran? where does the profits come from??

[NPSF3000]

" where does the profits come from??"

Your buying companies, Companies make profits and distribute dividends.

[Revone]

A solid trader can take a principle of $1000 risk capital and build that up to 2, 3, 4, 5. While, maintaining strict money management and tight risk per trade. Within 2 months. Instead of thinking about how much you can make with a small account size you should try and think about what you can realistically DO with a small account. Because you can't maintain a small account and expect a year salary. But you can grow a small account, into a less smaller account, and, even into a big one.

[XENAXON]

from begging on the streets. :))

[lostinreallife]

Hi Dave, thank you for this video.

How do you calculate the Total compensation, $300,000 + $100,000 = $400,000? where does the extra $50,000 come from?

[lti12]

What exactly do you mean when you say swinging for the fences?

[comtwah]

like in baseball, always swinging for the home run "fences" which is unrealistic.

[Boogers4dinner]

LOL...Yeah everyone wants to be the "Homerun King" Me singing..."I am the homerun king! I swing at just about everything! I am the Homerun King!" LOL That's a poor way to invest. I agree totally with your statement.

[pips5678]

Hi Dave, I'm new to your site and first I want to personally thank you from the bottom of my heart for putting your resources to work to educate the eager to learn fx market with your videos. It's just to bad mrbuttes doesn't understand fx trading plans and money management (the holy grail of investing) otherwise he could easily make a brain dead 30% a year return as you suggested in your reply, which I think is way to easy to make. I' am so greatful for you and your site. THANK YOU!

[crgshell]

Hello David, Just out of curiosity what do you think the minimum account size one would need if he wanted to try to make $100 a day trading in the forex market? ($50,000)?

[nevous8]

lol... 5000

[jgray110]

Systems dont need to be changed. The trick is for a trader to develop a system with which he is compatible (Ed Seykota, Market Wizard)

[wojtek0000]

"...blow their account up." ha ha! i wouldn't be able to learn so much if this guy didn't have such a good voice and steady speaking manner. Dave for President!

[InformedTrades]

I know can you believe that everyone voted for Barack instead of me? Best Regards, Dave

[highon74]

@InformedTrades

I agree with wojtek0000 on your voice and speaking manner.. I'm going to watch all your videos too, due to that. You are teaching exactly what I need to learn. I'm going to go and join your site now too.

[patrino]

Wouldn't putting that $10.000 into a leveraged account be a good alternative to using a money manager?

[InformedTrades]

Hi Patrino, Thanks for the comment. The point that I am trying to make in the above video is not that traders should use a money manager, but that a potentially faster way to making money when starting with a small account, is to develop a sound strategy that follows sound money management and then raise money based on that trackrecord. Best Regards, Dave

[drumfisch]

I just translated this for me and other non native speakers:

"SOUND money management" = convincing, successful and clean money management will attract rich people making you work an a reasonable sum of money

[morelltechyahoocom]

I have been wondering where to find an online broker whom only charges per trade, SogoTrade say they have $3.50 a trade with no fees, but wheres the catch? also if i plan to swing trade by holding stocks over night can i defualt away from needing $25,000 in assets to trade. I want to get started with around $4,000. What is it that i am missing?

[InformedTrades]

HI Morelltechyahoocom, I am not familar with Sogo trade however I would check into other peoples opinions on the company by searching around for them and seeing what people have to say. As long as you do not open and close more than 4 trades within one tracding session in a period of 5 or less days then you are not required to have $25,000 to start. For more information on this you can search for pattern day trader rule on google. Best Regards, Dave

[technotuber]

Excellent work, I just saw your videos a few days ago, I have been trading for a while and I have to tell you, you are doing a great service for novice as well as experience traders by reinforcing some basic lessons, and don't get distracted by idiots like "mrbuttes" comments. Keep up the good work.

[InformedTrades]

Hi Technotuber, Thanks for the comment and the encouragement its much appreciated. Best Regards, Dave

[mrbuttes]

30%, eh?! LOL! You're nuts.

"Don't swing for the fences...just kick back, put your legs up, and earn 30% a year for 10 years!" HAHAHA. You're a nut and anyone who believes you know the first thing about anything deserves to lose all of their money.

[InformedTrades]

Hi, Normally I would not address someone who does not have enough decency to show others basic respect however I would like to clarify that, as I feel is clearly stated in many of my videos, I am in agreement that this is not something that can be accomplished by kicking your feet up. Trading is hard work and I have over 70 videos in my introduction course which is only the first step that people need to learn if they want to target those type of returns. Dave

[blackberryjuice1]

sweet, you should make a video course on how to get into the money manager game.

[InformedTrades]

hi blackberryjuice1, thanks for the note will put that on the todo list. Best Regards, Dave

[Hexactinellida2]

i've always wondered if there are people that start trading with low low balances(ex: 500$ or close to that) and if there are, is there a way to make small profits off that account.

[InformedTrades]

Hi Hexactinellinda, Thanks for the comment. There are plenty of people who do start with such small balances however the successrate of those people I would think is very small because they do not have enough capital to stay in the game if they take losses. If someone really must trade with that low a balance then trading forex at a place which allows you to trade very small contract sizes may be an option. I would recommend however building up more capital before staring though. Best, Dave

[chasleo]

To start day trading (4+ trades in one week) you need to obligate the SEC ruling which requires you to have a minimum of $25,000 US in assets. Most trading firms (ie. TD Ameritrade) will loan you what they call a 'margin' - on $25k it would total $100,000.

I recommend NOT dipping into the margin much as you can quickly go into debt with ~9% interest.

You can potentially make $500 work - this wouldn't be considered day trading but more along the lines of investing as it'll take a lot longer.

[cableforex]

Another well balanced video. I have a question. Clearly trading is a randam distribution of wins and losses. Bascially it is a probabilities game. Therefore, if you have defined your edge(technical analysis)and stick to it without being afraid of placing a losing trade and moving on(no emotional baggage), as well as taking profits as per your strategy you should see a rising equity curve?

[InformedTrades]

thanks for the comment and good question. As we will go into a little further down the line in my lessons a trader needs a strategy which has a positive expectancy which is another way of saying an edge. Once he has this and then is able to trade the strategy correctly using some of the things I cover in my lessons, then yes he should see a rising equity curve. What we have gone over so far is just the basics however kind of like the freshman year of college so we have a lot more to go.

[cableforex]

Thanks alot for your reply. I look forward to more quality material.

[mujeebyzai]

Excellent. Thanks for sharing. 5 stars usual.

[InformedTrades]

my pleasure thanks again for the comments. Dave