I'm the most consistent trader in the world

Discussion in 'Trading' started by Corallus, Jan 29, 2003.

  1. Yep, I'm the most consistent trader in the world.

    I consistently lose an average of $300 a day. Out of a 21-day trading month, I end up in the red in about 18 of them. And my daily loss is almost always $300 +/- $100. I don't have a lot of wild equity swings--just a steady, smooth downward equity curve. Really, the consistency of it is amazing. BTW, I've been trading full-time now for 13 months.

    One would think that if I am so damn consistent, albeit on the losing side, I could somehow make changes in my thinking and trading that could turn the tables on my highly consistent losing, making me a consistent winner. Is this possible?

    Every time I think I'm getting closer to becoming a consistently profitable trader, to "getting it" the market slaps me in the face. In fact, in November of last year (when I was doing my journal) I was actually having an uncharacteristically winning period. It didn't last too long. Incredibly, despite my chronic losing, I remain surprisingly optimistic and calm because I KNOW I AM SO DAMN CLOSE. I've always thought of myself as a winner on the cusp of making the transition to success.

    What is the purpose of this thread? Maybe nothing. But perhaps it will evolve into something interesting.

  2. Hi,

    Is the strategy that you are using to create all these losses mechanical or discretionary? Also how many times per day on average do you trade?

  3. And of course someone will say "then fade yourself" and all that garbage so I am saying it now so it is said and done with.

    That out of the way, I remember you in the quizzes we had, and you rocked. And you wee new to the board then. Plus your posts suggest you have all the right tools.

    Since you know you're close then keep on keepin' on.

    Oh yeah, here's the other one you're sure to get so I'll take it away now... why don't you post what you're doing so we can critique it... (translated) so people who never post anything about methods and windbags can come out of the woodwork and tell you where you are wrong.

    Good luck Corallus!!
  4. smaller size

    fewer stocks

    less futures

    no options
  5. Well, I average 5 trades per day. I have two trade setups:

    1. buying support/selling resistance
    2. trades based on a mechanical system that I developed
    (I admit that I do not follow the system as I should, my
    psychology is ruled by fear of loss, but I am not greedy)

    Personal Observation: I always take my stop losses, but I exit profitable positions way too quickly.
  6. What are your commissions? If your trading a lot of shares even a fraction of a cent difference could get you profitable or close to break even.

    Also, I don't know what you trade but something simple like adding a futures squawk if you don't have one could allow you to get in and out 2-3 cents earlier on various positions several times a day. Doesn't sound like much but pennies add up fast over the days and weeks.

    Anyway it is probably something small that you need to tweak.

  7. ddefina


    There you go. :D
  8. What are you trading?

    If stocks, get really small.

  9. Funny you mentioned that. I used to work as an analyst before I started trading. I lost my job to the recession in 2001. Before anybody starts sending me hate mail, let me explain that I was an analyst for a Silicon Valley Venture Capital firm, not a retail brokerage analyst. Maybe it's true what they say, "Analysts can't trade." :)

    Thanks, inandlong!! :D
  10. I'm trading minis. I would prefer to trade stocks, as I used to do, but my account equity dropped below $25k not too long ago, so now I no longer have the option of trading stocks unless I switch from day trading to swing trading.
    #10     Jan 29, 2003