Recently, I try paper day trade to test some day trading schemes. For the last 21 consecutive days, all except 3 days were profitable with total aggregate profit = 31% of the "trading capital". However on a daily basis, profits came from one or two good trades, most others were lost cutting closeouts. Perhaps getting better entry will help. I will work on that. However, I suspect my trade selection is the main culprit. Any comments will be appreciated.
Had a similar scenario with one of my strategies, went over the chart again and again, managed to cut off 20% of the bad trades, but the rest stayed. I think this can be normal behavior, if you trade relative volatile instruments, or a volatile trading setup. My strategy is working fine, even if the gains come from only 3 good trades a day. Maybe a indicator freak could take out more of the bad trades, but I like it to keep it simple. People destroy success by looking for perfection !
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Still paper trading, not ready to go live because my day trading method is a tough gig. Essentially most of the time each trade turned into extracting a small number (+/-) between two large numbers, i.e., picking up (or throwing away) pennies. Only about 1 in 5 trades will result in significant profits.
What matter most That one consistently makes more money..., than they lose This is the nature and essence of trading - period How to get there - there is not just one thing / aspect that matters most Everything is important..., and everything must work in lockstep (the chain is only as strong as its weakest link) easy peasy RN