Trading for a living.... how much years?

Discussion in 'Strategy Development' started by Whites, Dec 15, 2003.

  1. Whites

    Whites

    Hello,
    It's my first post here. Firstly - sorry for my English.
    I hope I get answers :)
    I hear anywhere - 99% of market speculaters are lossers.
    I think, may be, it's right....
    Is here anybody who trade 5-10 years and have success?
    I trade 2 year (stock market) and have little +. I just study everyday and I trade really money (I read that here many people paper trade ). Now I have black stripe in my trading... And bad minds come into my brain...
    I am system trader. 100% mechanical (and TA). I trade breakeouts system that I made 3 year before and now continue make addons...
    The great portfolio DD is 15% in my career (close trade DD), the best win is 11% in 1 trade (Portfolio - 40%). The average trade is +2-4%.
    In backtest results more...not.... MORE COOL. :)
    But I am writing real trading results...
    The question is: who is here 5-10 year success trader, how is your average year profit and DD, what is your market and how many often you trade?
    Is it real? Please say YES :)
    And one yet - is here any 100% TA - MTS traders that trade succesfully?
     
  2. Aaron

    Aaron

    Here's a suggestion... Take a look at the results for the managers posted at IASG.com. It is a relatively stable bunch of managers who post their results even when they are doing poorly.

    Here on ET, if you ask how profitable people are, you will probably get a lot of people saying they are very profitable. There are a couple reasons for this, but in any case you probably will feel lousy if you are struggling and it sounds like everyone is making lots of money. Rest assured, there are plenty of people doing worse than you are -- they just don't boast about it like the profitable people do.
     
  3. Whites

    Whites

    Thank you for answer, but I am not interesting in very profitable people, but in stable.
    Stable with little+ 5-10 years.
    20-30%.
    5-10 year.
    I read at Master of the Wizards that they are :)
    But may be somebody is here?
     
  4. Whites

    Whites

    There is no 5-10 years stable trader, I see.
    Thank you to Aaron for interesting link.
     
  5. Direct access technology...and the internet...became "trader reliable" in 1999...and are improving...firms like Fidelity are just now stepping into the direct access arena...

    Also...it is easy to confuse trading aides offered by those who claim their tools will assist you...but for whatever reason cannot show real results...even some of the hypotheticals are not consistant...perhaps they were able to sell their services in 1998..1999..2000...but when people find out that what they have doesn't work...the news on the internet will quickly punish nonperformers...

    This industry is a baby...still...and is evolving...there is not much history...

    If indeed a company is able to offer valid performance evidence and is able to convey capabilities...their services should be in strong demand...

    How many people here on ET would appreciate viewing valid performance records utilizing conveyable methods....?

    The catch 22 is if niches of success exist...the niches would be finished...if conveyed to other traders....
     
  6. Whites

    Whites

    Direct access trading - yes, it's baby.
    Internet trading - yes, it's baby.
    But Mechanical trading is not baby.
    There are many persons that trade upon the time MECHANICALLY (not discretion) in the world. I mean not day trading sure.
    Strategy trading. ....
    That is only set of the rules: when enter,
    when exit, MM etc. In this way I think they are.
    May be they are here. But for while they don't post in this thread :)
    I know 2 person in my country that trade succesfully, so they are :) I am not such succesful, but I have 3 year experience in trading.....
    I hope to find people that trade that style that me:
    MTS, breakeout, av. trade period - 8-12 days, hours timeframe.
    I think we can have very useful discuss.
    Hope.
     
  7. bobdec

    bobdec

    Take a look at the following web site:
    tradingfrommainstreet.com

    I have been a member of that site for 14 months and I can tell you that the owners Toni and Brandon, and their moderator Ivica all have been profitable since I joined their site. They not only give you excellent trading suggestions, they also teach you the setups they use to make the calls and will answer questions if you do not understand the setup. They are the first service I have found where anyone does that and they do it very very good.

    They offer a two week free trial give them a try.

    bobdec
     
  8. abogdan

    abogdan

    Traders do not live that long!:D
     
  9. LOL
    You mean floor traders?
     
  10. ozzie

    ozzie

    Heck, yes, you can win year after year!

    The author of "Pitbull," Marty Schwartz, appears very much to be a perennially winning trader. Click for a link to his autobiography:

    http://www.amazon.com/exec/obidos/t...103-1228182-0252634?v=glance&s=books&n=507846

    Certainly, by all appearances, Don Bright is a consistently winning trader, and he is one of the most active posters on Elite Trader

    Unless Jea Yu of Underdergroundtrader.com is a complete bald-faced liar, he comes up green very consistently. Check out his website for his daily daytrading results posted in near-realtime for all visitors to see.

    http://www.undergroundtrader.com

    It seems to me from my reading, and my limited experience and observations (I have only been at this game for going on three years) that a very rough rule of thumb is that 5 or more years of solid effort coupled with a decent aptitude, and above all, a LOVE of the "game," can start to produce a robust trader/investor who can adapt to all sorts of conditions thrown at him/her. (Certainly, mileage will vary.)

    It appears to me that becoming a hardy adaptable trader who can endure over the years involves a process very similar to becoming a doctor or lawyer or a damn good auto mechanic: there is no substitute for paying your dues! Ya gotta put in the hours!

    At the end of the thinly fictionalized "Reminiscences of a Stock Operator," the renowned book about the great trader Jesse Livermore, the main character asserts that it is not possible to beat the market consistently over the long haul (or something to that effect). With all due respect to this esteemed icon (and Livermore is indeed due the greatest respect), I say, "Hogwash!" Certainly one can beat the markets consistently year after year! Hell, Jesse Livermore could've left this earth a lifelong winner if he had merely socked away the first million he made in ultra-stable investments, such as well-chosen and well-managed income real estate, and NEVER AGAIN TOUCHED THAT MILLION in assets. It would've been "Game Over" right then and there. He would've locked in his lifetime win. As I understand it, the thrill of speculating did him in. (Correct me if I am wrong; I have yet to read the other Livermore-related books.)

    My 2.1 cents (2 cents, adjusted for inflation :)

    Ozzie
     
    #10     Jan 14, 2004