Hello, my friend, and welcome to this post on “How Much Do Day Traders Make”. In this post, we’ll answer the question I’m often asked, what is the average income of a day trader and what is the day trading success rate.
I hope you enjoy it!
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How Much Do Day Traders Make – Video
Hi, my trading friends! Barry Burns here. Last week, I asked you to send in your questions for me to answer via video, and I’ve received many. You can still send your questions in the comments below or email me at barry@topdogtrading.com. I’ve categorized the questions and will prioritize those with similar themes.
Today’s question is from several people asking for a simple trade setup to make $100-$200 a day. They believe this should be easier since they’re not asking to get rich quickly. However, the biggest leap in trading is consistently making your first $100, not just as a one-time event but regularly. Once you achieve this, it’s easier to scale up to higher profits.
Consistency is Key
There’s a misconception that making $100 a day is simple, but it’s actually a significant milestone in your trading journey. Another misconception is that trading provides a consistent, regular income like a salaried job. Trading results vary daily, with ups and downs, and depend on market conditions. You’ll have profitable days and days with losses, known as drawdowns, which are normal in trading.
When aiming for $100 a day, it’s about averaging that amount over time, not hitting it every single day. Remember, trading involves risk, and it’s crucial to manage and mitigate this risk. Once your trading account grows, it’s wise to diversify and invest in safer, more consistent income streams.
The Psychological Battle in Trading
The first step is becoming a consistently profitable trader, even at a low level. From there, gradually increase your trading amounts without pushing too hard. The psychological aspect of trading is very personal and depends on various factors, including your financial background and mindset. Take it slowly to adapt comfortably.
Free Offer!
I am offering one of my favorite trade strategies called the Rubber Band Trade. Absolutely free. And I want you to go and make some money. Try before you buy, or well, actually try and never buy because there’s no charge for this trade at all. And I’ll give you the setups, the exits, all the rules for it. It’s an objective rule-based method based on price pattern action that I don’t think anyone else teaches.
I’ve never seen anything else teach this particular price structure. So go get that by clicking on the green icon in the top right-hand corner of the video there, or by clicking on the green button below, and that’ll take you to a page where you can opt-in, get the video for the rubber band trade strategy, along with some other great free tutorials, one of my little mini-courses, absolutely free, courtesy of Barry Burns here at Top Dog Trading.
GET MY FREE MARKET ENTRY TIMING INDICATOR
BTW, if you’re interested in the indicator that I use personally for very precise entries and exits. I’m happy to share that with you. Just send me an email at support@topdogtrading.com, and I’ll show you how to get access to that indicator.
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