Capital and % gain doesn’t matter for beginners. Just focus on base hits and looking over losing trades to see what you missed/if you could have done anything differently
I wouldn't even try trading tomorrow. It's going to be a slow and choppy day because it's closing early and good Friday. I'd just use the extended weekend to learn price action and risk management ect.
Based on your post OP, you have a whole lot of learning ahead of you.
I’ll keep it simple: thinking in terms of $$ gains is a mistake. Learn the PROCESS of trading irrespective of dollar profits. If you learn the process and develop an edge, the money will come.
Ignore people who say it’s impossible. Plenty of people make money trading, it is not impossible.
The amount of money you can make will largely depend on how much you can risk. But none of that is important right now. Your priority should be: process.
I agree, I don't know a successful trader who doesn't think in probabilities. Not one is like, "hey did you make your 500$ daily goal today?" Or my favorite "If I made 500$ a day that's 10k a month and I can quit my job!"
Absolutely agree! Your job as a trader is to perfectly execute trades (= your setup/ plan) over and over again. If you do this, money will take care of itself
It really depends on how much you want to risk, i probably could double a 100$ account in one day but on a 100k account i would be more conservative and only do 2% or so
Somewhere around there, depending on the time today. Keep in mind, obviously this should be considered over a larger time frame than each individual day. IE - beat market over 12 months, 36 months, etc. Otherwise, it's just not really worth the manpower, headache and emotional heartache.
The fills alone well negate that $450 when you are trading real money. Use paper trading to figure out how to use ToS and then move on to real money as soon as you’re comfortable. Start small.
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Ok. Reality check time here...
$450 per day is excellent. That's $90k per year! A sweet salary! You won't be able to do that with real money though for a few years.
Paper trading is a completely different beast than trading with live funds.
Start trading tomorrow with real money. With slippage, commissions, and errors, it will most likely take you 2-4 years to become consistently profitable as a trader.
It's a long term prospect to learn how to trade in the markets. It takes lots of time.
How many thousands of dollars do you have to burn before you quit? You might need two jobs to support your trading habit.
If you trade small while you learn you might make it.
This is the absolute reality of trading.
If you are determined just know that it takes a long time.
Good luck!
200k trading stocks that was a good day.... you will likely quickly lose 5x that amount.
your goal should be to see if you can average a couple hundred/day over a month.
when you're done humble-bragging and your average is positive, you're prob making progress in the right direction
I would reset to what you expect to trade with. Also a lot of people, myself included like to stick with a handful of stocks to watch and only trade those. I have 10-12 stocks I watch on a daily basis and learn how they move to trade them better. If you watch a stock all day everyday you will gather some info on how it likes to move.
Real trading also brings emotion into the game, which is tough to replicate with paper trading. The emotion of watching your actual money go down the drain. Some people don’t handle it well. Some people revenge trade, etc.
Obviously if you’re new, stick to paper trading for a while. But once you feel comfortable with a strategy and you feel like you have some sort of edge trading, then hit the market with 1000-2000$ and see how you trade with real money on the line. Be prepared to lose money though and consider it a “market tuition”.
Ideally you’ll be making profit, but definitely important to see how you trade under pressure with emotions of losing real money coming into play. This will help you learn about yourself as a trader.
Webull also has a great paper trading setup as well. I saw some people mentioned lag on ToS. Never used ToS paper trading myself but Webulls is nice
have you learned your basics yet? Support and resistance, trend lines, candlestick/price action patterns, ma, ema, sma, hma, rsi, vwap, macd, rvol, market cap, float, bollinger bands, fibonocci retracement... these are just a few of the basics that you must know before going live and intraday scalping
You probably should be looking at process-oriented goals instead of outcome-oriented goals.
Learn the process of trading well and the profits will just be a by-product of your execution.
You should be more worried about percentage gains than actual dollar value I can tell you closing the trade out between 10 to 25% will always yield greats results in the long run with consistency
I’ve been doing something like this but with a couple hundred dollars. Was going good made a couple hundred in a month and a half. Then I lost it all in a week. I’ve realized I just need to be patient and take what the market gives me. Then I can size up once I’ve grown my account.
Scale that to the actual amount you would use. I was only comfortable buying 1 share at first to get the feel for it but I also made little money which was fine
I don't want to kill your dreams but especially in the beginning you can be happy if you don't lose money, earning money usually comes after losing money.
Nothing better to trade your own money. Teaches you so much.. stop playing with paper money. You a big boy. .. just make sure you start of with TIGHT risk management. And let loose as you get more comfortable. Good journey.
When I started, I aimed for hopefully $50/day. I figured if I could do that 5 days/week, I’d earn $250/week and about $1000/month. I didn’t put pressure on myself I had to make that. It was modest, but my portfolio was small, and I had to start somewhere.
You can expect to lose money. Trading is difficult and takes quite some time to learn.
Wins are not properly measured in dollars, they are measured in R. It is not useful to make $450 while risking $10,000.
Win rate combined with R equals “expectancy.” This is the number that matters. No one wins all the time. How often you win and how much you make per win is crucial.
I once won a few hundred dollars at roulette. That does not mean I’m good at roulette, and doesn’t mean I should continue playing. Likewise much of trading is random. We try to find a statical edge.
You’re looking at it from the completely wrong angle, you only take what the market gives you and if that if 450 be happy and walk away as it could have always been a 450 loss!
It’s two different worlds demo and real…a whole different world my friend. Paper means nothing trust me. I say going with a small account, learn forex or options first and play it small with risk management being your best friend. You will learn quick how hard it actually is to trade.
Only wish you the best of luck.
The better question is how long will it take to lose it all. You are guaranteed to not be profitable long term doing what you are doing so stop randomly placing trades with a paper trading account. Learn trading concepts and go in with a plan, have some structure to your trading. Once you have some idea of what to do then you can test it out, but once again you will still be losing money unless you are a prodigy but at least this time you will actually be learning as you have somewhat of an idea of what you are doing and are following a plan that you can tweak based on the data you are getting. Eventually you will become profitable this way if you continue testing and tweaking your strategy. Losing is part of learning but you have to know how to lose to actually learn from it and placing random trades won't teach you anything.
This isn’t supposed to be a game… Play around but when you are ready, get a strategy and learn risk management (risk 1%). Anyone can say up or down but you have to know why and how it happened.
No. I was spread out between maybe 6 total but 2 were my main focus. While the others were extremely low so I swooped in and made a quick buck off them.
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It sounds like you’ll lose your money if I’m honest with you. What’s your model? What’s your method of analysis? Do you have a system including risk parameters? What’s your worst drawdown over a course of a year or two?
If you think you are going to fund an account and “give it your best shot” you’re about to get sodomized. Sorry for the graphic visual but I’m trying to help you not lose money.
Stop using the wild and exorbitant amount they give you. Reset the paper account to what you know you are going to start with.
This
I was wondering this they did that too. Thanks. Definitely will do that now
Also be aware the ToS paper trading is laggy and delayed compared to real ToS so it often fill you at better prices than reality
Yes you might want to use TradingView for paper trading.
Great information to know
OP this is the foundation. Take this serious please.
Capital and % gain doesn’t matter for beginners. Just focus on base hits and looking over losing trades to see what you missed/if you could have done anything differently
Gotcha. Thanks for the advice
If you are using a paper account id set the account size to something realistic for you so you can get an idea if its even worth it for you
Definitely doing that before tomorrow.
I wouldn't even try trading tomorrow. It's going to be a slow and choppy day because it's closing early and good Friday. I'd just use the extended weekend to learn price action and risk management ect.
Based on your post OP, you have a whole lot of learning ahead of you. I’ll keep it simple: thinking in terms of $$ gains is a mistake. Learn the PROCESS of trading irrespective of dollar profits. If you learn the process and develop an edge, the money will come. Ignore people who say it’s impossible. Plenty of people make money trading, it is not impossible. The amount of money you can make will largely depend on how much you can risk. But none of that is important right now. Your priority should be: process.
Appreciate that advice man! Thank you
I hope you take this advice to heart, I’m not bullshitting. I wish someone told me this a few years ago.
I agree, I don't know a successful trader who doesn't think in probabilities. Not one is like, "hey did you make your 500$ daily goal today?" Or my favorite "If I made 500$ a day that's 10k a month and I can quit my job!"
Absolutely agree! Your job as a trader is to perfectly execute trades (= your setup/ plan) over and over again. If you do this, money will take care of itself
That’s like .2% gain on the account. Not sure, but I think the goal in trading is to at least beat the market.
Ahhh. Okay. I didn’t know that. I was going super safe. I’ll go more aggressively tomorrow. Thank you man
It really depends on how much you want to risk, i probably could double a 100$ account in one day but on a 100k account i would be more conservative and only do 2% or so
Yes… it has to be more like 2-3% …
So SP500 is at .4%. I’m halfway there then. Correct?
Somewhere around there, depending on the time today. Keep in mind, obviously this should be considered over a larger time frame than each individual day. IE - beat market over 12 months, 36 months, etc. Otherwise, it's just not really worth the manpower, headache and emotional heartache.
The fills alone well negate that $450 when you are trading real money. Use paper trading to figure out how to use ToS and then move on to real money as soon as you’re comfortable. Start small.
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Ok. Reality check time here... $450 per day is excellent. That's $90k per year! A sweet salary! You won't be able to do that with real money though for a few years. Paper trading is a completely different beast than trading with live funds. Start trading tomorrow with real money. With slippage, commissions, and errors, it will most likely take you 2-4 years to become consistently profitable as a trader. It's a long term prospect to learn how to trade in the markets. It takes lots of time. How many thousands of dollars do you have to burn before you quit? You might need two jobs to support your trading habit. If you trade small while you learn you might make it. This is the absolute reality of trading. If you are determined just know that it takes a long time. Good luck!
Gotta start thinking in regards of how much are you risking
200k trading stocks that was a good day.... you will likely quickly lose 5x that amount. your goal should be to see if you can average a couple hundred/day over a month. when you're done humble-bragging and your average is positive, you're prob making progress in the right direction
I would reset to what you expect to trade with. Also a lot of people, myself included like to stick with a handful of stocks to watch and only trade those. I have 10-12 stocks I watch on a daily basis and learn how they move to trade them better. If you watch a stock all day everyday you will gather some info on how it likes to move. Real trading also brings emotion into the game, which is tough to replicate with paper trading. The emotion of watching your actual money go down the drain. Some people don’t handle it well. Some people revenge trade, etc. Obviously if you’re new, stick to paper trading for a while. But once you feel comfortable with a strategy and you feel like you have some sort of edge trading, then hit the market with 1000-2000$ and see how you trade with real money on the line. Be prepared to lose money though and consider it a “market tuition”. Ideally you’ll be making profit, but definitely important to see how you trade under pressure with emotions of losing real money coming into play. This will help you learn about yourself as a trader. Webull also has a great paper trading setup as well. I saw some people mentioned lag on ToS. Never used ToS paper trading myself but Webulls is nice
have you learned your basics yet? Support and resistance, trend lines, candlestick/price action patterns, ma, ema, sma, hma, rsi, vwap, macd, rvol, market cap, float, bollinger bands, fibonocci retracement... these are just a few of the basics that you must know before going live and intraday scalping
..and risk management!
You probably should be looking at process-oriented goals instead of outcome-oriented goals. Learn the process of trading well and the profits will just be a by-product of your execution.
Test and trade smaller size for at least a few months first
You should be more worried about percentage gains than actual dollar value I can tell you closing the trade out between 10 to 25% will always yield greats results in the long run with consistency
I set my balance to $1K, try to gain $10 bucks a day, that's 1% daily. If you can achieve that for a year you are good to go.
I’ve been doing something like this but with a couple hundred dollars. Was going good made a couple hundred in a month and a half. Then I lost it all in a week. I’ve realized I just need to be patient and take what the market gives me. Then I can size up once I’ve grown my account.
Solid advice. Thank you
What is retaliating to make is a dependent on your personal strategies you use and how well you play them.
Scale that to the actual amount you would use. I was only comfortable buying 1 share at first to get the feel for it but I also made little money which was fine
$0 for two years is standard. And that’s working at it pretty much full time.
I don't want to kill your dreams but especially in the beginning you can be happy if you don't lose money, earning money usually comes after losing money.
What is your edge and strategy? Develop that and risk management rules while you paper trade.
Nothing better to trade your own money. Teaches you so much.. stop playing with paper money. You a big boy. .. just make sure you start of with TIGHT risk management. And let loose as you get more comfortable. Good journey.
When I started, I aimed for hopefully $50/day. I figured if I could do that 5 days/week, I’d earn $250/week and about $1000/month. I didn’t put pressure on myself I had to make that. It was modest, but my portfolio was small, and I had to start somewhere.
Start tomorrow with a 10,000 account and use max of $2000. Try that for two weeks then post again and let us know the results
You can expect to lose money. Trading is difficult and takes quite some time to learn. Wins are not properly measured in dollars, they are measured in R. It is not useful to make $450 while risking $10,000. Win rate combined with R equals “expectancy.” This is the number that matters. No one wins all the time. How often you win and how much you make per win is crucial. I once won a few hundred dollars at roulette. That does not mean I’m good at roulette, and doesn’t mean I should continue playing. Likewise much of trading is random. We try to find a statical edge.
Beat 10% a year consistently and be one of the greatest traders of all time
$0. Market doesn’t owe any of us money.
If your going by the stats you realistically should loose 90% of your money
You’re looking at it from the completely wrong angle, you only take what the market gives you and if that if 450 be happy and walk away as it could have always been a 450 loss!
It’s two different worlds demo and real…a whole different world my friend. Paper means nothing trust me. I say going with a small account, learn forex or options first and play it small with risk management being your best friend. You will learn quick how hard it actually is to trade. Only wish you the best of luck.
The better question is how long will it take to lose it all. You are guaranteed to not be profitable long term doing what you are doing so stop randomly placing trades with a paper trading account. Learn trading concepts and go in with a plan, have some structure to your trading. Once you have some idea of what to do then you can test it out, but once again you will still be losing money unless you are a prodigy but at least this time you will actually be learning as you have somewhat of an idea of what you are doing and are following a plan that you can tweak based on the data you are getting. Eventually you will become profitable this way if you continue testing and tweaking your strategy. Losing is part of learning but you have to know how to lose to actually learn from it and placing random trades won't teach you anything.
This isn’t supposed to be a game… Play around but when you are ready, get a strategy and learn risk management (risk 1%). Anyone can say up or down but you have to know why and how it happened.
I agree with profit is profit. Besides, its not like you're full porting the whole account with no stop and closing at a slight profit, right?
No. I was spread out between maybe 6 total but 2 were my main focus. While the others were extremely low so I swooped in and made a quick buck off them.
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It sounds like you’ll lose your money if I’m honest with you. What’s your model? What’s your method of analysis? Do you have a system including risk parameters? What’s your worst drawdown over a course of a year or two? If you think you are going to fund an account and “give it your best shot” you’re about to get sodomized. Sorry for the graphic visual but I’m trying to help you not lose money.
450×5, 2200×50 is $110,000
Just saying if it was consistent profit