And there you have it... Interesting. Are you scalping multiple equities (at the same time)? If so - how do you find them? Do you track a few and go for specific set-ups? For intraday trading I always felt it was best to focus on only 1 instrument. I could see an exception if one were scanning a large basket of stocks for specific set-ups. For example break-out trades. IB is a bad broker for intraday trading because of the margins - so you could easily solve that problem by switching to another broker. No worries. And keep at it! Are you using basic TA without any indicators or do you have any secret sauce in your methodology beyond mere trial and error from experience?
Consistent is not making X amount a day - or even compounding. They are a byproduct of being consistent. One day you, and I suppose trader99, will realize that. I can't help any further.
This argument cuts both ways. I find IB to be terrific because of margins. How many $26K accounts have been blown up at the $500 margin shops that would have survived to profitability at IB. Sufficient margin is proof against blow ups more than a limit on profitability, imo.
Sure. Still I believe there's a middle ground between $500 and $26K. I used IB back in the day myself, but when I got back into the game their margins were simply a tad too high for my taste.
I realize what consistency is. I follow the same process each and every time that's why I'm able to generate consistent profits. So my consistent profit is the result of my consistent methodology not the other way around! In fact, many time, I use max leverage 4x for many trades b/c the edge is solid. No reason to use less.I buy every last share I can get until my broker sayI can't anymore because I've used up my margins. But I know you will argue how come I don't let it compound. The time for compounding will come soon enough. Right now, I like to withdraw money from the account like it's a free money ATM.
Remember what Jesse Livermore said. Among other things was when you make a big hit, take half your profits home. which would be, out of the trading account. Matter offact, so many things he said are pointed to this thread. Here's a link to 7 of his most relevant ideas: https://www.brameshtechanalysis.com/2020/04/the-wisdom-of-jesse-livermore/ Even though his time was a long, long time ago, everybody can benefit from his ideas. Except, of course, the ones who say "that won't help me, I know everything already."
In my experience, along with the handful of personal acquaintances and/or friends that are consistently profitable traders, ALL of us/them trade with "fixed" account values. Granted, the fixed amount can and does get modified from time to time based on market conditions and/or instruments being traded, but the point is it is fixed towards the lower end of what is needed and necessary to attain the desired result, including losses, with excess removed frequently and regularly. Compounding the account itself is not necessary beyond what is needed to attain the desired result. Adding to and compounding ones personal external wealth is much preferred for modern day measurement, application, and purpose.