Tell the truth.Who does/doesnt make consistent trading profits.R U even a net winner?

[Joey25]

I diasagree.

Ok, we'll tear up that Nobel Prize, then

Alternatively, try the same method across different product classes. Seriously, you'd be hard pressed for them all to go wrong simultaneously (providing the method is sound in the first place - no random horizontal lines).

For example, I'm losing in index futures at the moment, but winning in index options and FX Futures.

Just trying to help,
Joey

 

[JTrader]

Ok, we'll tear up that Nobel Prize, then

Alternatively, try the same method across different product classes. Seriously, you'd be hard pressed for them all to go wrong simultaneously (providing the method is sound in the first place - no random horizontal lines).

Or, trade only 1 instrument (intraday), but just dont trade less than ideal setups. if they do not arrive, stay the fcuk out!

sometimes ideal setups will also fail, this is the nature of the beast, but trading ideal setups is the best approach - obviously!

Or, if you really must look to trade that day, if your preferred instrument is in a messy spell, look at how a few others are doing on your watchlist, and if they present ideal setups, maybe trade them, but if not stay the fcuk out!

Waiting for the good setups - is part of becoming a good trader - like hoggums and paul71 said. In other words, trading bad setups, forcing things, hitting and hoping - will prevent you becoming a good trader..

 

[JTrader]

Well i've had to go into town this morning, and predicatably this had made me miss perfrect setups that led to big profits.
I knew this would happen, it usually is the case. Murphy - you tw&t!


Had to drive towards town and got stuck in traffic 2 miles out. I moved about 150 metres in 15 minutes. I turned back.

This reminds me of why i am trying to trade, rather than face a lifetime of no choice in the matter traffic jams. unbefukcinglievable!

 

[blueswan]

Hi JTrader, what is the product you are trading?

 

[FXSCALPER2]

Or, trade only 1 instrument (intraday), but just dont trade less than ideal setups. if they do not arrive, stay the fcuk out!

sometimes ideal setups will also fail, this is the nature of the beast, but trading ideal setups is the best approach - obviously!

Or, if you really must look to trade that day, if your preferred instrument is in a messy spell, look at how a few others are doing on your watchlist, and if they present ideal setups, maybe trade them, but if not stay the fcuk out!

Waiting for the good setups - is part of becoming a good trader - like hoggums and paul71 said. In other words, trading bad setups, forcing things, hitting and hoping - will prevent you becoming a good trader..

The best option for you is to give up trading.

 

[JTrader]

The best option for you is to give up trading.

why?

if you're going to come out with a blunt statement like that, at least qualify it.......otherwise you come across not too well.

 

[FXSCALPER2]

why?

1- After all these years you can't do it

2- You believe no one else can

Use some syllogism.

 

[blueswan]

i believe some approach just work better for certain products. For instance, I believe just using charting alone for trading FX is okay but for bonds a combination of charting and fundamental works better.

 

[shmeeko69]

Hi There

I don't know why most folk seem to be trying to make profit, scalping the markets !!
I find this hideous, being so close to the market.
I lost a good few quid doing this with a few currency pairs.
I personally find setting up a futures position with either a stock,commodity or currency & setting a wide stop (3% of bank) & If the market's telling me, that the trade is good to go & if the position is above or below the 30/90/200 moving averages, then we are good to go !!
This is bringing me a regular income (FINALLY) & I'm not pissing about in trying to scalp some pips from a crazy & fluctuating market.
If you are confident about the direction of your position, in the short to medium term & have set your stop, enough to let the position breath & with the correct risk management & chart information, It is easier to make a profit, the only negative is the extra cost of the spread for futures !!

Cheers

 

[Rossini]

Hi There

I don't know why most folk seem to be trying to make profit, scalping the markets !!
I find this hideous, being so close to the market.
I lost a good few quid doing this with a few currency pairs.
I personally find setting up a futures position with either a stock,commodity or currency & setting a wide stop (3% of bank) & If the market's telling me, that the trade is good to go & if the position is above or below the 30/90/200 moving averages, then we are good to go !!
This is bringing me a regular income (FINALLY) & I'm not pissing about in trying to scalp some pips from a crazy & fluctuating market.
If you are confident about the direction of your position, in the short to medium term & have set your stop, enough to let the position breath & with the correct risk management & chart information, It is easier to make a profit, the only negative is the extra cost of the spread for futures !!

Cheers

That's crap! Every single trader on earth will have a slightly different style, just because you are not good at scalping does not make it a illegitimate way to trade. I know someone that scalps oil every day and does 100's of trades he makes about 40k per week.

I have been trying a new type of scalping and on the demo account have made 400 pts this week so far. Unfortunately I don't think this can be replicated with live funds as the execution on the demo platform is instantaneous and I never get re-quoted, on the live platform I don't think it would be the same.

 

[BSD]

Who gives a **** about consistency? It isn't important. Consistency would be worrying to me.

That is VERY true...

It's ONLY about NET profits.

See Ed Seykota and his 50% drawdowns on the way to his hundreds of thousands of percent return.

 

[dick_dastardly]

I've only just dropped onto this thread and haven't read all of it so apologies if this has been covered earlier or is a little off topic.

Anyway, I just caught the end of a news article on BBC radio 4 the other week which mentioned that it takes about Ten years ( 4 hours per day at 5 days per week = approx ten thousand hours ) to become an expert at something, be it playing a musical instrument, a doctor, an Olympic athlete or whatever.


Don't know how true that is or what others here might think of that ?

If it's true then I'm just over half way there so I may as well keep going.

BTW I did a search of the BBC web site but couldn't find anything.

dd

 

[rawrschach]

That's crap! Every single trader on earth will have a slightly different style, just because you are not good at scalping does not make it a illegitimate way to trade. I know someone that scalps oil every day and does 100's of trades he makes about 40k per week.

I have been trying a new type of scalping and on the demo account have made 400 pts this week so far. Unfortunately I don't think this can be replicated with live funds as the execution on the demo platform is instantaneous and I never get re-quoted, on the live platform I don't think it would be the same.

If it works that well may as well go direct access...or futures betting possibly

 

[minime69]

I've only just dropped onto this thread and haven't read all of it so apologies if this has been covered earlier or is a little off topic.

Anyway, I just caught the end of a news article on BBC radio 4 the other week which mentioned that it takes about Ten years ( 4 hours per day at 5 days per week = approx ten thousand hours ) to become an expert at something, be it playing a musical instrument, a doctor, an Olympic athlete or whatever.


Don't know how true that is or what others here might think of that ?

If it's true then I'm just over half way there so I may as well keep going.

BTW I did a search of the BBC web site but couldn't find anything.

dd

not sure if that's true, i have done around 33,600 hours approx at this now and dont consider myself an expert, actually far from it.

 

[JTrader]

The best option for you is to give up trading.

You could be right.

Oh well, at least, i have a cunning back-up plan (or 2).



http://www.trade2win.com/boards/com...coming-soon-simple-life-trading-strategy.html


And/or

http://www.trade2win.com/boards/559298-post21.html

I'll come back as REdartj, and have you begging me to buy the limited licenses....

 

[shmeeko69]

I've only just dropped onto this thread and haven't read all of it so apologies if this has been covered earlier or is a little off topic.

Anyway, I just caught the end of a news article on BBC radio 4 the other week which mentioned that it takes about Ten years ( 4 hours per day at 5 days per week = approx ten thousand hours ) to become an expert at something, be it playing a musical instrument, a doctor, an Olympic athlete or whatever.


Don't know how true that is or what others here might think of that ?

If it's true then I'm just over half way there so I may as well keep going.

BTW I did a search of the BBC web site but couldn't find anything.

dd

Hi There

I don't know about becoming an expert ie sports when stephen hendry was hitting 100+ breaks after a month of getting his first 6 x 3 snooker table & I've been playing for 22 years & never got near a century.
Some people are born with a natural talent (lucky b*******)
Anyway trading seem's is all about learning from your mistakes & it seem's to become a bit of an art form (I THINK) !!
Unfortunately you have to lose money before you can get to grips with your owmn emotions.

Cheers

 

[luckyd1976]

R U a Net winner???
This year NOPE

But net-net since I decided to tak the leap to FT IM way ahead and consistent.

The big free lunch in finance is diversification.

Run several systems/methods concurrently and they can all have the same volatility (inconsistency) and yet as a whole produce a much smoother equity curve.

Just a thought.
Joey

These volitile times are really historic. I do trade multiple systems and yes it gives alittle more peace of mind knowing that one month one system wont blow up my account when the markets change.

My diversification is time frames (For YTD, LT=Winner, MT Collars/Conversions=Biggest Winner, Monthly Condors= Modest Loser, Automated DT= my biggest loser.)

 

[wouste]

R U a Net winner???
This year NOPE

But net-net since I decided to tak the leap to FT IM way ahead and consistent.



These volitile times are really historic. I do trade multiple systems and yes it gives alittle more peace of mind knowing that one month one system wont blow up my account when the markets change.

My diversification is time frames (For YTD, LT=Winner, MT Collars/Conversions=Biggest Winner, Monthly Condors= Modest Loser, Automated DT= my biggest loser.)

That's a nice diversification, annyway nice to see you don't lost your faith becuase you had some bad months.
You are indeed correct the markets are just abnormal..

 

[Ponce]

I've only just dropped onto this thread and haven't read all of it so apologies if this has been covered earlier or is a little off topic.

Anyway, I just caught the end of a news article on BBC radio 4 the other week which mentioned that it takes about Ten years ( 4 hours per day at 5 days per week = approx ten thousand hours ) to become an expert at something, be it playing a musical instrument, a doctor, an Olympic athlete or whatever.


Don't know how true that is or what others here might think of that ?

If it's true then I'm just over half way there so I may as well keep going.

BTW I did a search of the BBC web site but couldn't find anything.

dd

Greetings,

That is opinion and not knowledge,that fact makes it useless to anyone wanting to trade with a rising equity curve.For a trader,until the reality that the next winning trade cannot be known in advance,the quest for being an expert on any market will always be what seems to be missing.Look to 99% on CNBC,when was the last time they ever mentioned the most important part of trading? Pre-defining R/R.Its easy to take small stops,holding the winners to treasure island is true skill.

cordially Ponce

 

[foredog]

Greetings,

Its easy to take small stops,holding the winners to treasure island is true skill.

Running the winners is the key but it's much easier said than done, it's much easier to run the profit when there's already some in the bank, otherwise it's always at the back of your mind that this trade has dragged me into the blue, don't want to go back into the red so you take that meagre profit.

On the subject of the thread

Had one cracking month, a few ok ones and a few crap ones, but still up and it's nothing to do with my methods all to do with me, fear and indecision normally.