I mentioned the trading range on the Top 40 and the return day traders (speculators) make as 15%. This is the "geared" return due to instruments they use being options,warrants etc. If for example I buy the index using a warrant (TopDWC) which is 9 times geared at the current moment, I will receive a return of 30% if the Top 40 moves from 29 500 points to 30 500 points (3.39% x 9). Usually you don't get the full participation and you average up or down and I halved the return to illustrate the point.
Still very risky when the range is broken!
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