Consistently Profitable Traders - Going Red to Black

Discussion in 'Professional Trading' started by DEM BONES, Aug 14, 2010.

  1. Your experience is very different from mine. It took me two years to reach consistent profitability. Over the 17+ years I've been trading, I've only met a few successful traders and they all said it took them a couple of years to get to consistent positive performance.



     
    #11     Aug 14, 2010
  2. Arjun1

    Arjun1

    Yes

    Risk is the only reality in trading, everything else is an illusion.
     
    #12     Aug 14, 2010
  3. I agree, success at trading takes time. Nature vs Nurture, talent vs hard work is an old debate. Most people think of Michael Jordan or Tiger Woods as the most talented players of our time, but they both credit hard work for their success...someone mentioned Picasso, most don't realize he had a very hard start, when he first move to paris, he burned many of his paintings just to stay warm......many great traders had early failures, blowouts. Through hard work, persistence they overcame the failures.
     
    #13     Aug 14, 2010
  4. This seems to be the old debate between whether traders are born or traders are made.

    Traders are born... according to your description, from the very first trade he/she makes... they are all money making. No down time. Consistently profitable traders from day one. Wow!

    I am just glad that I am not part of your conceptualization. It took me years to become consistently profitable. Would I become consistently unprofitable? Maybe. I hope not. I will fight very hard to not let that happen. And I really admire those who are born to be a consistently profitable trader without lifting a finger.

    In answering the OP's question:

    Such moment for me came when I started trading full-time, with full-attention.

    Let me clarify: you can be profitable trading full-time, or trading part-time. You can have a full-time job and trade "on the side", or trade for a living. But you cannot be profitable if you trade "half heartedly". I finally got over my hurdle when I attend the full trading session, 7 hours each day, with full attention. And started analyzing all my failed trades in detail to learn from my own mistakes.
     
    #14     Aug 14, 2010
  5. Absolute bullshit. Completely untrue. I know quite a few people who trade for a living, and not a one was profitable from day one.


     
    #15     Aug 14, 2010
  6. punter

    punter

    yah sure you could spend years becoming anything...

    but they are born as well. spend anytime in a shop of 10 recruits getting cycled out before they have this retail pattern daytraders journeyman like quest to profitability

    and guess what. you throw enough poop against the wall and sometimes it sticks.

    from the first month, profitable.

    its random. but it happens again and again. a lot more greg odens out there then spud webb.
     
    #16     Aug 14, 2010
  7. when u say traders are born, u are probably refering to the tenacity of the person, It is more like a person with high testesrone excell not only in TRADING but everything else in life such as SPORTS, business, kicking others peoples ass.

    A person born with high testerrone, he'll get everything ",manly" right
    while a person with low testersrone, will be less agressive, timid, take less trades, afraid to speak up, not lead a company. The few successful millaionaires I do know, including myself , are not only good in business ,but women, sports ,everything.


    quite frankly, anybody with high testerone will beat your low/mediocre testerones ass by far because I am much more aggressive.
    reading my post u can feel the testosterone, its like someone high on steroids but its completely natural . I'm speaking it from a "matter of fact" attitude, with no aggression at all. For a low testosterone person to speak like this, would be unlikely unless he was insulted or angered.


    thats what it means to be born into it - naturally aggressive.
     
    #17     Aug 14, 2010
  8. BENG

    BENG

    I have been profitable (mild) for years, but not very consistent. The real break through to become very consistent came from applying hedging and options strategies to what I've known, that changes everything.

    Now I'm near my all time equity curve high with lower volatility, can sleep better, and do not need to fix myself in front of the screens every single second.

    That being said, I'm only 1 year into this break through, please do not trust me as an expert. However I'm please with the results so far, especially this is a very very trendy, choppy, and volatile year all in one... indeed a very weird year so far.
     
    #18     Aug 15, 2010
  9. Trading consistently is a talent, like being a singer, a painter, an olympic athlete. It cannot be taught, like winning a 100 metter race cannot be taught if you do not have it inside you. You either have it in you or you do not. Do not fight it. Trading consistently is NOT a science. It is a gift from nature. Systems, software, testing, analysis, are just tools to help you manage your talent, the same way that an olympic surfer uses his board to win a metal. Tools alone will get you nowhere. It is like giving a Ferrari to a kid. Very dangerous. Do not take it personal like you should not take it personal when you are told you cannot sing. See how many go to singing competetions. It is hilarious, they think they can sing. Yet, one or two out of thousands are true singers because they have it. If you have it in you, you need a good system and risk management. These are just the tools. Many have a good system and know risk management, yet they cannot trade.
     
    #19     Aug 15, 2010
  10. I learned about multi-pivot lines, and action/re-action lines. I wish I discovered this 5 yrs ago!!.
     
    #20     Aug 15, 2010