- My Forums
- Tiger Rant
- LSU Recruiting
- SEC Rant
- Saints Talk
- Pelicans Talk
- More Sports Board
- Fantasy Sports
- Golf Board
- Soccer Board
- O-T Lounge
- Tech Board
- Home/Garden Board
- Outdoor Board
- Health/Fitness Board
- Movie/TV Board
- Book Board
- Music Board
- Political Talk
- Money Talk
- Fark Board
- Gaming Board
- Travel Board
- Food/Drink Board
- Ticket Exchange
- TD Help Board
Customize My Forums- View All Forums
- Show Left Links
- Topic Sort Options
- Trending Topics
- Recent Topics
- Active Topics
Started By
Message
$500 a day keeps the day job away
Posted on 8/27/20 at 5:59 pm
Posted on 8/27/20 at 5:59 pm
perhaps...
do you think you could do it?
I don’t think I could. Right now I’m averaging $850 a day since March but these are unusual times. but, given the appropriate sized bankroll, it seems obtainable. $500 doesn’t seem like much out of the context of having to do it 250 times.
500 bucks every day, either in net margin on closed trades or gain in open trades, is 125,000/year. since you’d be closing most positions short term capital gains taxes would apply. I’d never take that kind of risk at my age but I’m wondering if anyone here has?
do you think you could do it?
I don’t think I could. Right now I’m averaging $850 a day since March but these are unusual times. but, given the appropriate sized bankroll, it seems obtainable. $500 doesn’t seem like much out of the context of having to do it 250 times.
500 bucks every day, either in net margin on closed trades or gain in open trades, is 125,000/year. since you’d be closing most positions short term capital gains taxes would apply. I’d never take that kind of risk at my age but I’m wondering if anyone here has?
Posted on 8/27/20 at 6:12 pm to cgrand
This is like that guy who only wanted 1.5% per week
Posted on 8/27/20 at 6:20 pm to cgrand
I think with a large enough bankroll you could do it. I'm in awe of the guys like warrior trading who can make 50k-250k a day.
Posted on 8/27/20 at 6:28 pm to JohnnyKilroy
quote:
This is like that guy who only wanted 1.5% per week
no it’s not, that dude was/is an idiot convinced he’d found an options cheat code. I’m talking about playing it straight...finding good trading setups with high success probabilities and doing it every day.
I don’t have the skill set for it but a lot of smart people do I think and don’t realize it. The question is simple, could you trade to make $500 every trading day and not have to work?
Posted on 8/27/20 at 6:34 pm to cgrand
quote:
no it’s not, that dude was/is an idiot convinced he’d found an options cheat code. I’m talking about playing it straight...finding good trading setups with high success probabilities and doing it every day.
I don’t have the skill set for it but a lot of smart people do I think and don’t realize it. The question is simple, could you trade to make $500 every trading day and not have to work?
Yeah, getting a $ return on a regular basis like this is way different than a guaranteed High % return.
I think it’s more than doable, just depends on the bankroll. If you have enough cash to leverage yourself and rely on very small % returns but that come out to $500+, you could do it.
This post was edited on 8/27/20 at 6:35 pm
Posted on 8/27/20 at 6:54 pm to cgrand
You will get killed in a down market
Posted on 8/27/20 at 6:59 pm to cgrand
Do taxes get more complicated on something like that? Or do most trading platforms have some nice end of year report to make it easy?
Posted on 8/27/20 at 7:00 pm to natsoundup
that’s where the skill comes in. some stocks are green even on the worst days. And options trading has opened up an avenue to make money on a downtrend that our fathers did not have
Posted on 8/27/20 at 7:21 pm to rmc
They have a nice year end report that makes it easy, with total gains and losses. Takes all of two minutes in turbo tax
Posted on 8/27/20 at 7:24 pm to natsoundup
quote:not if you stick to your game plan
You will get killed in a down market
Up market, down market, trading set ups and principles are the same
Posted on 8/27/20 at 7:39 pm to cgrand
If you had a million dollars to play with it would probably be pretty easy to scalp some highly liquid stocks and get .05% per day. that’s 13% annualized, but your going to blow your account at least a few times. There are likely better opportunities from a risk/reward standpoint if you had a million cash to invest.
Posted on 8/27/20 at 7:41 pm to cgrand
You're trying to time the market on a day to day basis. I wouldn't mess with that.
If I had to try it I would identify stocks that are volatile but in no danger of tanking, and that don't trend together. That way I buy the dips and sell the spikes, then buy back in on the next dip.
But if I had a sufficient bankroll to make $500 a day from that, I wouldn't need to make $500 a day.
If I had to try it I would identify stocks that are volatile but in no danger of tanking, and that don't trend together. That way I buy the dips and sell the spikes, then buy back in on the next dip.
But if I had a sufficient bankroll to make $500 a day from that, I wouldn't need to make $500 a day.
Posted on 8/27/20 at 7:48 pm to cgrand
My average is way over 500/day this year but I’ve been treating it like a full time job almost. I don’t day trade either. I’d say I’m more of a swing trader. Been a life changing year tbh. Most people wouldn’t believe my gains. But most important part of all of this is protecting the gains. Stay within yourself and stay on plan. All of this to say it’s def possible to do
Feels good to even type this bc I have told just a couple people.
Feels good to even type this bc I have told just a couple people.
This post was edited on 8/27/20 at 7:52 pm
Posted on 8/27/20 at 8:22 pm to cgrand
Cgrand— FYI I have started taking option trades from CML trade machine. If I start making $500 consistently I’ll let you know!
Posted on 8/27/20 at 8:26 pm to LSUtoOmaha
honestly that’s what prompted this thread.
I want to see some real world results if you don’t mind sharing
I want to see some real world results if you don’t mind sharing
Posted on 8/27/20 at 8:32 pm to cgrand
I will share no matter how good or bad
Posted on 8/27/20 at 8:39 pm to Bestbank Tiger
quote:
But if I had a sufficient bankroll to make $500 a day from that, I wouldn't need to make $500 a day.
I’ve said a couple times I don’t have the talent to do it.
however I do have the bankroll to make 2/10ths of a percent every day if I did have the talent, and I’d still need the 500 bucks
Posted on 8/27/20 at 8:44 pm to thatguy777
quote:But how much are you working with? If you’re working with $2 million, and making $750 a day, that’s a 9.38% annualized return.
My average is way over 500/day this year but I’ve been treating it like a full time job almost.
That’s pretty good, but that’s well behind the historical average of S&P500 and on top of that, you would taxed at ordinary income rates for all gains, and those types of gains puts someone in anywhere from the 22% to 32% marginal brackets just in federal taxes.
Whereas with a buy and hold strategy, someone sill only he paying taxes on the dividends, and after a while at the far more favorable long-term capital gains rates.
So I’ve never done anything but just buy and hold and only sell when I feel like the opportunity cost of holding that asset is greater than the gains of another one (or to harvest losses for tax purposes). But IMO, if I were to start trading, other than maybe to hedge, the after-tax gains would have to be greater than the after-tax gains of buying and holding. And just using the S&P500 as the barometer, the gains from trading would have to be 12-15 percent annually to make it worthwhile.
That said, if that was my only or primary source of income, and I wasn’t reinvesting all or the majority of my gains, I guess my perspective would be different.
This post was edited on 8/27/20 at 8:47 pm
Posted on 8/27/20 at 8:46 pm to cgrand
What I’ve realized is majority is money management. I trade options and have been doing it for years. Don’t put more than 2-3% of your stack on a trade. If you’re trading the equity might as well put your stop loss around there. Let the winners run and cut the losers quick. Money management is the name of the game.
Posted on 8/27/20 at 8:51 pm to cgrand
I definitely think I could do it, but I would have to quit my day job and focus solely on it. I only work half the year and on the days I can focus on technicals I do extremely well with options trades, almost exclusively trading puts.
This however is in my play account and I keep a base of 50k and will sometimes hold these positions for less than 10 minutes, don’t hold them overnight and obviously never, ever over the weekend.
I use SMA, EMA, MACD, RSI, but mostly watch moving averages and pull the trigger on crossovers. But it is very time intensive. I basically can’t be doing anything else.
Curious what the options master Jag_warrior has to say.
This however is in my play account and I keep a base of 50k and will sometimes hold these positions for less than 10 minutes, don’t hold them overnight and obviously never, ever over the weekend.
I use SMA, EMA, MACD, RSI, but mostly watch moving averages and pull the trigger on crossovers. But it is very time intensive. I basically can’t be doing anything else.
Curious what the options master Jag_warrior has to say.
Popular
Back to top
Follow TigerDroppings for LSU Football News