777 i would say a lot on the forum are profitable but wont say because they get shot down , then many just bullshit and say there zillionaires,and then try to make traders and budding traders feel small. I have, after trying many many many strategies over the years to eventually find a short time frame strategy with a clear plan to get me into a position it gives me a target and hard stop, to which i am now profitable (11 months) not long i know. I can only trade spot, i did try futures but to be honest i couldn't get my head around the spreads - ladders- flys etc. I once did a Grad course many years ago in London with a company called Schneider Trading lasted the course but agreed spread trading futures wasn't for me. What about you 777 where in the trading curve are you, if you dont mind me asking.
I am a successful discretionary or manual daytrader with stocks or equities at this time not yet with futures. One activity that helped me get there was having in person friendly conversations with other goal orientated traders one on one. There is a different thought process going on during a verbal interaction rather than when processing written information. The more effort you have already put in on your own to develop proficiency in trading the more you'll get out of the conversation. A real thirst for excellence is necessary in both participants. The end result will be you'll be able to refine your existing methods of trading and move forward toward your goals. This will not happen if one person is trying to ride the other's coattails. It will happen if you are both truly attempting to create a collaborative effort to help each other. Generosity is rewarded while selfishness and greed will leave you emptyhanded for your time spent. You don't have to discuss your detailed methods of trading, you simply need to have a conversation and let the thoughts surface.
Assuming the OP is putting stop losses in place, immediately after the order is filled... Adjust accordingly...
May I ask, if you are successful with stocks&equities - why would you want to move on to futures? Why fix if it isn't broken?
Such a pity. 11months to be profitable and consistent is very good!! Are you trading fulltime? Or as a hobby, and planning to go fulltime in the future?
Thanks! I believe it is a very interesting topic. Also more broadly - how and why will humans always be "better" than robots (at least that is what we want to believe, right ) Just yesterday I read an article, how one ABBA member claimed that AI will be very soon be writing better songs than humans.
Hi, the strategy i trade has been profitable for 11 months, but to get to the start of the profitability stage was many months before, agreeing my trading pair (all of the pairs tested gave me different results) and finding the time frames which were suitable and worked best with the strategy. then there are levels to enter,exit,stop,hard stop, I still think to myself ,is this going to work for me at the UK opening on Monday Morning.
That's a very good question. Let me be more specific. I don't want to stop trading stocks and move on to futures.I want to daytrade trade chosen futures consistently for profit in addition to daytrading chosen stocks for profit. It is probably the same motivation that allowed me to continue my efforts through failure with stock trading and be able to get to where I am now from those efforts. There is the challenge of becoming successful in a sea of failure. I am the type of person that does not like to quit at a difficult task. I don't know if you are a sports fan but I will use baseball as an analogy. It is very satisfying and rewarding to become a major league baseball player. That is a rare and fantastic level of excellence and accomplishment to achieve. Most successful position players (players that are not pitchers) when at the plate fail to get a hit in 7 out of 10 attempts. Failure is a part of the game and they have learned to continue their efforts after failure. Some players however somehow manage to reach the ultimate level in major league baseball, the hall of fame. They had something in them that allowed them to reach an even more satisfying and more difficult to obtain level. The bottom line is they had more fun than everyone else and it was because they learned how to fail less than everyone else. I want to have more fun trading.
My manual trading yields a profit factor that currently hovers around 1.8 to 2.0, and around 65% win rate for every 100 trades. Although I am a software engineering student, and haven't dabbled in algo trading yet.