What Makes a Trader Successful? A Personal Reflection

Discussion in 'Forex' started by Prospergain, Nov 24, 2024.

  1. TrAndy2022

    TrAndy2022

    You should not go that route otherwise you want to stay poor. I am just speaking of my experience. I had my lessons.
     
    Last edited: Nov 24, 2024
    #51     Nov 24, 2024
  2. You are asking me to be discretionary. I am an open heart guy. I cannot. I learned in life that i give and i take. Does not matter how much i give or how much i take. But really i appreciate for sharing your experience. I am allready poor. So it does not matter if i failed to become rich. If i need to become hard hearted to be rich i may prefer to stay as i am :)
     
    #52     Nov 24, 2024
  3. MarkBrown

    MarkBrown

    pfffft sharp of 11 should be your goal - 2.3% drawdown
     
    #53     Nov 24, 2024
  4. TrAndy2022

    TrAndy2022

    Sharpe 14+ is easy to create with intraday seasonality only. But it does not work out of sample. You can either look for a) seasonality filter or b) other trade filters but then you need to have many strategies for a smooth equity curve. That way you can produce every time Sharpe 5 or 10 or whatever is possible in that time period and timeframe, in backtest only. If you go out of sample, then you see it is only curve fitted to the end. If you optimize with walk forward optimization and then going to realtime tracking you see it does not work. In that case you had the walk forward internalized to a simple backtest as curve fit.
     
    #54     Nov 24, 2024
  5. MarkBrown

    MarkBrown

    in most traders world - general common knowledge - agreed upon mass un-enlightenment
     
    #55     Nov 24, 2024
  6. TheDawn

    TheDawn

    What Makes a Trader Successful?

    -Perseverance and risk management
     
    #56     Nov 24, 2024
    Scataphagos, shine and MarkBrown like this.
  7. Businessman

    Businessman

    Plus not caring about losing trades and losing streaks when trading large size.

    Anyone can handle a losing streak trading 1 micro lot.

    But once you get between 10 and 100 mini contracts things start to get real and you don't want to give previous profits back to the market in a losing streak.

    Nearly everyone has a level of money that they think is 'a lot' and that will limit how successful they will be.
     
    Last edited: Nov 24, 2024
    #57     Nov 24, 2024
    Scataphagos likes this.
  8. TheDawn

    TheDawn

    Yes losing on large size trades is hard and not let it affect your future trading is even harder.
     
    #58     Nov 24, 2024
  9. Worth repeating.
     
    #59     Nov 24, 2024
  10. Handle123

    Handle123

    I was thinking of trading for others in mid 90's, by time I had 5 years of real time, was doing so well, why get 20% return on someone's account when I could get loan from bank and get 100% from my account.

    People are funny, they call when losing money and call twice as much when their account going up and should we take profits early.... no thanks.
     
    #60     Nov 24, 2024
    ironchef likes this.