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Strategies & Market Trends : DAYTRADING Fundamentals -- Ignore unavailable to you. Want to Upgrade?

To: Dan Duchardt who wrote (7937)	4/22/2000 3:56:00 PM
From: E. Davies	Read Replies (1) \| Respond to of 18137

I know of several traders who claim returns of a few hundred percent annually, without compounding. That puts them in the 1% range for average daily returns What I'm curious about is less the "average" return than a "typical" return. In other words what type of return can a good trader get once you filter out the occasional really good or really bad days? To make it personal I'll give an example. I've been using roughly $50k in trading capital. That gives me $100k intraday buying power. My typical return has been $1-$2k/day. (That ends up being 2-4%) However every once in a while I'll be really hot or extraordinarily stupid and get a +/- $10-15k day. The last 6 months of last year the really bad days outweighed the "typical" days enough that I ended up losing on average. Fortunately lately I've been getting the huge loss days under control. Have not had a losing day in a couple of months. The biggest improvement as recently mentioned by someone else is to be willing to sit out the day if you don't feel sharp or if the market isn't providing you reliable opportunites. I'd like to set myself some goals- but don't know where to set them or even if I should. Right now my goal is simply to not lose- maybe thats the only goal that should ever be set. Eric