Am I Wasting My Time?

Discussion in 'Trading' started by Tall Mike, Jul 5, 2020.

  1. comagnum

    comagnum

    It takes a lot of persistence but it can be done. In summer I back of my trading significantly, trading only the last hour, on most days I am done inside of 10-30 minutes. Fall to spring I am trading much more aggressively with far more size - both equities & futures night & day. Summer time is minimalist mode for me.

    These are small gains, summer is my tread water period - aiming for small base hits each day. The point being is become somewhat consistent is possible.

    This acct is my small acct, less than 1% of my capital. No trading done in first week of July, had company visiting. Trading mainly the NQ, & a few ES trades.



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    Last edited: Jul 29, 2020
    #271     Jul 29, 2020
  2. TheFoot

    TheFoot

    Whop there it is
     
    #272     Jul 29, 2020
    comagnum likes this.
  3. ironchef

    ironchef

    I agree with @SimpleMeLike, I don't think you need to be a quant to have a chance. There are many profitable day traders here and they are not morons or quants.

    It takes all kinds, there are many big institutional traders here but many amateur mom & pop retails too. Some are good at day trade, some swing, some use TA, some fundamental, some trade forex, some equity some options some futures, some commodities...

    The most important thing for an individual is we need to pick what fits us, don't trade like a quant if you only understand high school math for example.
     
    #273     Jul 29, 2020
    comagnum and SimpleMeLike like this.
  4. Handle123

    Handle123

    The road is extremely difficult, if you doing it for the money, takes longer. Better to have jobs to go and off time for challenges. Of course, this was my direction and slowly paid off, it is better to trade profitable first before trying to program, saves years.
     
    #274     Jul 30, 2020
    SimpleMeLike likes this.
  5. Tradex

    Tradex

    By the way Comagnum, Robert Carver mentioned you in his last book (Leveraged Trading: a professional approach to trading FX, stocks on margin, CFD's, spread bets and futures for all traders, page 67). ;)
     
    Last edited: Aug 8, 2020
    #275     Aug 8, 2020
  6. comagnum

    comagnum

    Keep in mind that streak of winning days was just 'variance'. I have had as many losing days in a row back in the day. That is why I called it amusing.
     
    Last edited: Aug 8, 2020
    #276     Aug 8, 2020
  7. shfly

    shfly

    1. Keep a day job until consistently profitable.
    2. Trade around your job...930am to 11am, or 2-4pm, eventually including pre/post market.
    3. Trade what makes sense...to YOU...breakouts (long/short), pullbacks etc. etc.
    4. Don’t worry about HFT’s, algo’s etc., you’re worrying about the wrong things.
    5. Wait for the setup, if none, don’t trade.

    Good luck.
     
    #277     Aug 9, 2020
    trader99, SimpleMeLike and jl1575 like this.
  8. This is marvelous advice here and it's exactly what I do. Great advice.

    Trading needs to be a side hustle if you don't have edge.
     
    #278     Aug 9, 2020
    shfly and ironchef like this.
  9. In my opinion this is good advice. One problem with trading is definitely information overload.
    Narrow down and simplify and dont worry about what others do. There are literally a million+ different ways to make money in the markets, all you have to do is concentrate on 1 way that you feel comfortable with and focus on becoming an expert in that 1 strategy and make sure to keep an ongoing detailed written journal and notes on your trading

    create daily trade plan
    keep track of results
    keep track of what you are doing right
    keep track of what are you doing wrong
    create and adjust a plan to correct mistakes and get better

    Rinse/Repeat

     
    #279     Aug 9, 2020
    ironchef likes this.
  10. ironchef

    ironchef

    A one trick pony is often better than Jack of all trades.
     
    #280     Aug 10, 2020