Being profitable

[RipTides]

After engaging in trading for an extensive period and exploring various approaches, could you pinpoint the singular action or decision that has consistently enabled you to generate profits?

What I've learned:
It's ok to be wrong sometimes. Take a loss. I would recommend be careful out there when catching falling knives and rising towers.

My win rate has dramatically increased by using one rule on gappers: Being patient and waiting for confirmation of reversals before entries. TOP proved that even in this market, one can easily be caught in large-spread massive mover often fueled by normal momentum traders or shady HF spread-rotation schemes (which still is happening with Chinese stocks BTW). Stop losses and set max losses are your friend.

 

[RipTides]

I gave up being a contrarian, thinking I could accurately fade tops and bottoms. I’ve heard there are people who can pull it off consistently but I find it a whole lot easier to just buy when volatility is low and sell when volatility is high. Once I started doing that I suddenly became a lot more profitable.

To ensure a stock is a good choice to fade requires analyzing the fundamentals and deciding if the company has any real potential. Often the sentiment toward the company will wane quickly if they are unprofitable. The odds for a good fade usually depend on the company's legitimacy and resilience, so fundamentals are important in that aspect.

 

[RipTides]

Also, when a stock price holds higher and flat after a first big gap up, it is likely to see a subsequent run up in the current or next day.

 

[Aaronbrad]

Good strategy is essential for being profitable in Forex. As a strategy, I follow moving average, fibonacchi and RSI.

 

[oshjdf]

Trade symbol(s) that fit your setup (of course by screening) than trade a single symbol.

 

[mason macgregorson]

After engaging in trading for an extensive period and exploring various approaches, could you pinpoint the singular action or decision that has consistently enabled you to generate profits?

my robots did well today. Go bots or go home!

 

[MACD]

Are your Bots for Sale?

 

[hilmy83]

my robots did well today. Go bots or go home!View attachment 317801

Nice, do you run it on live or just sim?

 

[mason macgregorson]

Nice, do you run it on live or just sim?
View attachment 317850

I run them on SIM to form a universal track record, which is always three contracts per trade and totally automated. I track trade performance based on longs versus shorts, target one versus target 2, stratified analysis of the five days of the week for diurnal variation, and performance in premarket versus U.S. market for circadian rhythm. Using the last ten weeks of data I select only those trades that make the most amount of money, based on the index, the type of trade, the time of trade, and the day of the week. It's not unusual for me to eliminate some 70% of all trades from consideration. For those trades that I trade with the live cash I use the robot only as a guide and take them in a separate trade panel.

 

[charlotte_daily]

No singular action / decision.

But multiple (at times conflicting) action/decision.

Can you explain more about what you've done?