Deja Vu

rigel,

haven't you considered using an alert service (assuming your trade pick criteria are well defined)?

- jaan

 

When I first started trading I was doing 20 to 50 trades a day. After six months I was doing 10 to 20, After a year 5 to 10. Now I seldom do more than a couple of trades a day. My profitability has increased in direct proportion to the decrease in the number of trades. I have nothing but admiration for those traders who do a hundred trades a day and make money. Thats what I would like to do as I love the action but I was never able to get the hang of it. Now I check my screens about every 15 minutes while I putz around the house. Boring but profitable.

 

Jaan
I haven't considered an alert service so far. It might be worthwile though, hadn't thought of it. Thanks
Rigel

 

Nico:

You may considering up your size/trades, I don't know about you but it is almost impossible to make top tier money without going really really aggressive.

You may be at a trader's block in term of learning curve, the stage where you consolidate and don't seem to be learning much anymore, but as with everyone there is always room for improvement.

For every single trader who is consistently profitable on a daily basis, they should have only one goal on their mind, push up the size while trying to maintain similar consistency.

There is no limit to trading, let's put it this way, if you don't love the game you will never make half a million a year doing this, if you don't make half a million a year then there are lots of things you can do to improve.

KEEP MOVING . . . GOOD LUCK . . .

 

Magna: “Very few people on this board have ever suggested that they only do a couple of trades a day!”

Personally, I only come across 4-5 good setups a day. Of course, I’m trading futures.

From time to time, I’ve traded with greater frequency. Ultimately, I’ve found that I expend an awful lot of energy and concentration on short term trades (1-2 points) to rack up incremental profits that may fail to exceed, in sum, the same amount from fewer trades placed to take advantage of intermediate corrections (4-5), trend reversals (8+), or post-open extensions (16+).

I also find that the percentage of winning trades decreases when I engage in short term trading, due to my necessarily strict trade management parameters. Therefore, I spend more time spinning my wheels.

Why not do both and double my pleasure? I’ve found it too hard for me to do that effectively by myself. For me, the two are mutually exclusive.

 

Magna,
I do as much size as I can afford within my risk profile. I trade mostly the index trackers so size is no problem execution wise. My stategy is pretty simple. I wait for an extended move one way or the other and fade it. I usually dont expect to make more than a half a point but will take all I can get. I didnt set out to trade this way, it just kind of happened. Process of elimination. I'm too lazy to do a lot of research. I dont have to make a living any more so I'm taking the easy route.

 

Nico,

Don't have to make a living anymore.......nice.

 

I didnt mean to imply that I'm rich, just retired. Trading is my hobby. The fact that I'm able to make a little money at just means that I can keep doing it. I doubt I will ever make a lot of money at it because I have a tendency to head for Atlantic City or Las Vegas whenever I get way ahead. I intend to die with a smile on my face.

 

Nico,

Thanks for the reply. I didn't mean to seem like I was prying into your personal matters but really do think it's great that you don't need trading to earn a living.

Good Luck at the casinos! Lay a bundle on black for me!