Did you beat the S&P ? If so, by how much ?
Matched it. There was nothing I felt comfortable trading against the trend.
BTW, my day trading crushed the market ~40% net on margin.
If you matched the S&P last year, you deserve a pat on the back !
As for the 40% return on margin, there are two things i removed from my trading performance lexicon years back:
1) Mark to market profits
2) Net on margin.
The only thing that matters is net on your account.
40%, even annually is a big number. If you could do that consistently, and you started with a 100k account, you would be a millionaire in 6 years and a billionaire in 26 years (assuming tax free compounding as in a 401k). Now if we could do that in day trading, you would be a millionaire in 6 days and a billionaire in 26 trading days. So, performance on margin is a meaningless metric.
Edited by NAV, 05 January 2018 - 12:41 PM.
"It's not the knowing that is difficult, but the doing"
"No warning can save people determined to grow suddenly rich" - Lord Overstone (The great crypto mania of 2017)