Day trading %'s ?

BK1248 · #1 07-20-2005, 10:18 AM

My friend just started daytrading for a living and I bankrolled him for a no risk 5% cut. What % of daytraders can consistently beat the market and make a decent living?

skierdude1000 · #2 07-20-2005, 10:24 AM

Hmmm... well 90% of daytraders go broke within their first 6-12 months

Good luck

Dan Mezick · #3 07-20-2005, 10:37 AM

Here's the likely percentage of daytraders that make money: (none)

This post may be the sign of a top.

PokerParrot · #4 07-20-2005, 01:40 PM

Less than 2%.

Think of the similar question "what % of poker players make a decent living" and factor in that trading is monumentally more difficult.

jccookjr · #5 07-20-2005, 01:44 PM

Get your money back before it's too late.

jdoe · #6 07-20-2005, 01:49 PM

If you started with $1,000,000 and wanted to earn 1% a week anyone should be able to beat the market for a week or 2 before the money is all gone.

If you think he is good, look at my results in the 2+2 Stock Trading Competition. I will take the same deal and give you 6%.

Jdoe

OrangeCat · #7 07-20-2005, 03:27 PM

[ QUOTE ]
My friend just started daytrading for a living and I bankrolled him for a no risk 5% cut.

[/ QUOTE ]
Daytrading what? Discretionary or mechanical? What were his results when back testing his system?

Sniper · #8 07-20-2005, 03:38 PM

[ QUOTE ]
My friend just started daytrading for a living

[/ QUOTE ]

Not enough information... did he just wake up this morning and decide to try his hand at daytrading? Does he have any kind of track record? Has he read any books? Does he have what it takes psychologically to be successful? Does he have a mentor? Is he trading any kind of a system? Does he understand the basics of risk/reward and money management?

[ QUOTE ]
I bankrolled him for a no risk 5% cut

[/ QUOTE ]

What exactly does that mean? You bankrolled him, but you think you have no risk? Is he going to pay you back if he loses all your $$$ ?

To maintain a daytrading account, your equity can not fall below 25K. A daytrader should start with at least 100K+ to increase their chance of success, when the inevitable drawdowns come.

BK1248 · #9 07-20-2005, 03:48 PM

It is friend who wanted to try it, he has been involved with the market for many years and has been doing well trading short term trades for the last year or so. He has other equity and I gave him 10k and i get 5% profits and I am guaranteed the 10k no matter what happens. He said 15% people can make $, I thought lower to 5%, but after reading this I dont even know if 5% possible. Im not worried about my $$ I was asking for his sake. Thanks for replies.

Dan Mezick · #10 07-20-2005, 03:57 PM

....and trade alot less frequently, no doubt.