WHAT CAN I EXPECT TO EARN?
Earnings are dependent upon many things.
#1, The size of your account (The size of your account limits how many lots, stocks, or futures contracts you can buy or sell. I recommend to all of my students to start very small. If you follow my program, I can pretty much tell you that you will beat Wall Street, which isn’t saying much.) You will also beat 99% of all the mutual funds. We often can make more in one month than these popular entities make in a year. Sometimes in a week. It all depends upon your skill level, your strategy, your system, and your ability to follow the safety rules.)
#2. Your tolerance for loss in a trade. (Some have no tolerance, and they should not try trading. Many great trades give a small loss before the deliver the payload of profits. No matter how great or correct or timely a signal is, the market has a right to try to throw you off of the train before it really gathers steam. Is this the market maker trying to make more profits? We many never know, but I teach how to expect and recognize retests and protect yourself.)
#3. Your ability to follow the rules. (Trading rules are important. You might defy them and break them, and still be successful. You might also get yourself in trouble. My tutoring can teach you the correct trading methods, but I can not force you to follow them. Some mules are just stubborn. Ha.)
#4. Your ability to not freeze when a trade turns to a loss. (I teach techniques for avoiding this frequent trader problem. If you practice those techniques, you will never have this problem.
#5. Not Being Greedy. (I work hard to teach my students to take what the market gives us, and not try to force it to give more. I teach you how to not let a winner turn to a loser. This gives anyone discipline and saves them from their own greed. Some have unreasonable expectation for beginners. I have prospective students who ask if they can make 100% a month! What? What planet gave them that idea? I urge students to be realistic in their goals. A recent Futures student with a $2,000 account wanted to make $5,000 per month because that is what he needed to meet his family needs. That is totally unrealistic. He did not sign up with me. That is O.K., because I want students who will listen so they can be successful. His greed based upon his need is going to result in overtrading and he will probably lose it all.
#6. Your Patience Level. (Video game players can become excellent traders if than can kill their need for constant action. Good successful trading is NOT A THRILL A SECOND. If that is what you seek, stay with the video games. They are great.
To try to have non stop thrills and action in trading is a death wish. Yes, once you are in a trade, your adrenalin level will rise as the move goes up and down and all around.
Good trading requires waiting for the right signal. That is the hardest part of trading. There are many great trades every day in stocks, futures, or Forex, but in any one stock, or currency pair, or future contract, there may be no trades at this time. You have to wait, watch, monitor, and time your trades. The gunslingers who want to be trading every minute will lose.
. My philosophy is that most people do not have the patience to stay with day trading for than a few hours a day. My signals could give you trades all day and all night, but waiting for the signal to develop is time consuming.)
#7. Your Willingness To Invest the Practice Time. (Those who think they can become a great trader and make lots of money without investing some time to practice and learn the skills are doomed to failure. The lazy traders fall for all the hype programs, such as green vs. red button programs, down arrows and up arrows, etc. They want to push a button, walk away, and come back later and pick up their winnings. That just does not work in anything.
#8. How many trades can I make in a day? (That is really a great question. I recently did a research project. I wanted to know how many great set up trades there were in the best recommended trading times versus the slow dead times of the day. To my amazement, the slow hours produced 80% of the number of trades the prime hours did. There were magnificent trades at any hour of the day.
Now to catch them and find them is another story. What I would like to compare, and can not as it is just too laborious, is what is the amount of win in each of those trades and compare the prime hours with the dead slow hours. Some of the trades during the slow hours appeared to be as huge and profitable as the best of the prime time trades. I gave no credence to the news releases in my study as well.
You can make all the money you want with just one trade a day. The very best setups may only occur once a trading session (two to three hours). Some days there are no good setups. Sometimes I have to wait 15 to 30 minutes for the trade to really trigger correctly, and hit my goals. It is usually less usually less than 1 hour. Sometimes there are so many trades so quickly you have to choose amongst them.
In Futures, given any single trade, the amount you make depends upon the size of the position you take.
What is amazing is you do nothing different. You do not need to make more trades. One good trade, one great set-up, and the patience to wait for the “safe” set up to occur, is the best type of trading. Why work yourself to death overtrading. One of my Stock students from Florida was trading 10 to 15 stocks at a time. It was taking him a lot of time to try to monitor all of those positions. I have gotten him down to five (I tried to get him to three.) With great signals, and a great protection system in place, you do not need a lot of positions which just complicate your life and make it difficult for you to manager your trading.
Many safe set ups occur every day in stocks or Forex, or even Futures. I am giving away a lot of good advice here, and to learn more, you need to sign up for my program.
#9. How big is my risk? How much could I lose? (DO NOT RISK ANY MONEY YOU CAN NOT AFFORD TO LOSE. IF LOSING THE MONEY WOULD HURT YOUR LIFE STYLE OR BUDGET, THEN DON’T TRADE. I encourage all my students to start small. You have a whole lifetime. Everyone wants to be a millionaire tomorrow. Take your time. Take the turtle approach. Slow, methodical, and cautious. I teach you how to do that.
Do you really think you can teach me? I was not a good student in school! (Once you master what I will teach you, and eventually I will pound it into your head, because I am a professional teacher and have taught at all levels for years. (Assuming you do your part and do the practice and homework I recommend), anyone can do it!
Sometimes I see the slow learner taking their time and eventually proving to be the better trader, that the hot shot risk taker with no fear. Fear of the markets is a good thing! I can make a lot more recommendations when I know more about you, your experience, your employment, your available time, and your financial situation. I have students start with $1000.00 in Futures and quickly build up their account. They accept small gains every day, and bigger ones each month.
#10. Are you going to be trying to sell me something additional late like I have experience with other programs? (I have nothing else to sell you but my training. Unfortunately for me, my students start making money and forget about me. Others keep me around to answer questions or get my imput later on about a trade. Essentially I work myself out of a job. I do not represent any brokerage or anyone else.)