I was just curious, how many of you make 80% of your money on four or fewer trading days per month? White
my profits are generally spread out more evenly, probably book a profit on 50% of trading days with the other half either outright losses or flat. But on rare occasions when the market is a screaming one way street up or down, i can have one of those joyous home run sessions where one or two days of gain dwarf the rest of the month.
I basically make or loose 1-3k a day. In the end, out of say 20 trading days a month, I'll have those small days be a push for about 15-18 days or so. Maybe i'll show a small gain of a few k net. Then it's my 3 or so 10k+ days that make all the money. I assume it's the same for a lot of people. Ohh and add in that one rogue day where I blow 10k.
Dearest Trading Brethren, For me, 3-5 trades (either daytrades or swingtrades) can make my month. When I realised this, I massively cut down on my trading (perhaps no more than 15 roundtrips a week) and became ultra-selective... the idea is to cut down on churn (at some risk of missing some home runs)... by reducing churn, my cost of business (small losses, equally small gains and the associated commissions) is cut dramatically, magnifying the effect of good trade selection... but be warned, my brethren, you have to have the right sort of temperament to do this, since many days I will stare fixated at my trading screens (akin to a zombie on Buffy the Vampire Slayer) and emerge at the close with but a single trade for my labors... As ever... Your Brother, Candle
There are 4 guys I know that trade at a prop firm (I won't mentioned the name because I don't want to be labelled as a "shill") and rarely have a losing day. They might have one or two a month. Its unbelievable. I've seen some their P&L statements. They don't hit homeruns, just consistent singles every day. Axe
My trading income is very consitent and over the past 6 months or so I rarely have more than 1 losing day a week. I find the best traders I know have consistent day in and day out gains with the occasional home run day. I am here to tell you the key to being a successful trader is consitency and loss control. I have found that over my trading career my best months were when I have very few losing days as opposed to the months when I had a few monster days. Allen
Yes you are correct. Its those consistent days that will provide you with longevity in this game. (But those monster days feel oh so good! Its like pumping a 300 yard drive right right down the middle.)