Consistently Profitable Day Traders

Discussion in 'Trading' started by Money Trust, Sep 19, 2014.

  1. Money Trust

    Money Trust

    I'd like to hear from day traders that are consistently profitable. Myself, I'm consistently profitsble in swing trading but I'm thinking about making the switch from swing trading to day trading being that I now have more time to do so...and also day trading I believe is more suitable for me considering that I'd like to make my money in a short period and be done for the day, holding no positions overnight.

    That being said, here's a few questions I have.

    1. Are you consistently profitable due to a high win rate or by having your winners far outweigh your losers in dollar amounts? I'm asking this because I've read about day traders who have gone months without a losing trade.

    2. What are your favorite markets to day trade...offering the volatility and liquidity needed to catch a good move and enter/exit cleanly?

    3. In your opinion, is it good to focus on one market?
     
    #1     Sep 19, 2014
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  2. 1245

    1245

    I think that anyone that wants to focus on day trading should consider ES futures. When you make money, the 60/40 tax treatment means you can make less and keep more. Also, margin for day trading ES can be very low and you don't need a prop firm to get leverage.
     
    #2     Sep 19, 2014
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  3. jack hershey

    jack hershey


    See inserts above.
     
    #3     Sep 19, 2014
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  4. Dr_BVCC

    Dr_BVCC

    Great post Jack, now all we need is Surf and a few others to chime in and the OP will have all the wisdom ET can offer.

    :eek::eek::eek::rolleyes::rolleyes::rolleyes:;););):confused::confused::confused::confused::confused::confused::confused::confused::confused::confused::confused::confused:o_Oo_Oo_Oo_Oo_Oo_O:mad::mad::mad::):):):)

    :cool:
     
    #4     Sep 19, 2014
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  5. Redneck

    Redneck

    MT

    Question 1;


    Off the top of my head – there are only a few ways to have a high win rate – most of which – require no skill


    The one which does involve skill – is being in sync with price

    Even with this however.., there are still no guarantees


    So.., allowing the profit from winning trades..., to outweigh the losses from losing trades - is paramount


    In actual trading – a combination of both is required (being in sync.., while also allowing winners to outweigh losers - $ wise)


    Where you’ve read about day traders having gone months without a losing trade – I’ve had 1 loser wipe out months of profit


    Fact;

    It only takes 1 loser…, and it will always only take 1 loser

    And the real fun – we will never know exactly which loser that 1 will be (real kick in the ass this one is)

    =======================


    Questions 2 & 3


    My favorite mkt / instrument may not be yours – you need to find yours

    Yes…, imo it is best to focus on 1 mkt / instrument - but again.., we are all different


    Successful Journey Sir


    RN
     
    #5     Sep 20, 2014
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