End Of A Retail's Day Trading Experiment?

Discussion in 'Trading' started by ironchef, Oct 28, 2024.

  1. p0box4

    p0box4

    Most likely yes, 100% random.

    How often before have you been making money for a couple of days, like in this instance, but then blew it all away in no time? That should answer your own question.

    Please stop believing you have anything, stop spending money on Topstep and whatever, as long as you can't have a few profitable months in a row, then and only then you can start thinking about it not being random luck.
     
    Last edited: Oct 30, 2024
    #71     Oct 30, 2024
  2. ironchef

    ironchef

    On the other hand, may be @padutrader is the real deal, like @volpri, has a winning edge but pretending to be a loser, for entertainment.

    You never know, in an anonymous forum, who is real and who is not.

    One thing for sure, I can tell you, in day trading I am not the real deal.
     
    #72     Oct 30, 2024
  3. ironchef

    ironchef

    #73     Oct 30, 2024
  4. padutrader

    padutrader

    dont i wish

    this is for real $$$$$ et4.png
     
    #74     Oct 30, 2024
    ironchef likes this.
  5. Handle123

    Handle123

    What would have happen if you shut down trading after 1% loss had happened ?
     
    #75     Oct 30, 2024
    ironchef likes this.
  6. ironchef

    ironchef

    :thumbsup:
    Very good question. I don't know, it is on my to do list if I decide to continue.
     
    #76     Oct 30, 2024
  7. poopy

    poopy

    Huge difference between a trade and an account stop.
     
    #77     Oct 30, 2024
  8. Bad_Badness

    Bad_Badness

    Put it at the top or near the top.

    Most new traders only focus on the wins and try to hide (aka blind eye) from the losses. You can see this in a lot of the posers. Notice how none of them talk about how they can be profitable, WITHIN the constraints of known and potential losses.

    Experienced traders look at the loss control first or at least VERY early in development. Think of it this way, if you know how much you can lose, then you just fight slippage, commission, then you can work on wins in ANY way.

    It is SOOOOOO easy to create a system where losses are ignored or an after thought. People just keep tweaking, based on past data and pseudo adjust the system, thinking that is how they will get a grail. In fact they need to control losses like a champ. But they don't want to because once they do, their system they worked so hard on, bragged about, is a looser.

    An even worse bad trader is one who can't even come up with a super profitable system where the losses deferred, comms ignored, slippage ignored. You are not in either category.

    Take a break then come back and improve your in-trade tools. Work on the losses, work on getting more meat from the bone in your entries and exits. Then evaluate. You may want to switch to a longer time frame, but that might not fit your trading personality-affinity per your comment.

    Scalping is hard as others have pointed out. The noise is serious. You need to have a lot of filters that don't outright prevent trades, very good in-trade management and solid daily management.

    Lastly in the archives a thread talks about a professional day trader and their daily line out sheet or trade summary sheet. The one take away was how that was evaluated. They looked for losses to be taken early. From a scalpers POV, this makes good sense: Take a loss, and get back in the right direction and open a potential win.

    Best of luck.
     
    #78     Oct 30, 2024
    birdman and Sekiyo like this.
  9. Handle123

    Handle123

    When I am looking at my stats, I will usually dump 10% of worst losing trades and then I can lower protective stop. Very few trades turn around to produce profits.

    Also, after so much time, if price not gone favorable amount, my new target is breakeven plus one tick. I concentrate on time in trade.
     
    #79     Oct 30, 2024
    birdman likes this.
  10. Breaking ever is a major milestone. If 99% of day traders fail, you’re in the top 1%. You aren’t losing. Keep it up and you’ll get where you want to go
     
    #80     Oct 30, 2024
    ironchef likes this.