Consistently Profitable Day Traders

[Money Trust]

I'd like to hear from day traders that are consistently profitable. Myself, I'm consistently profitsble in swing trading but I'm thinking about making the switch from swing trading to day trading being that I now have more time to do so...and also day trading I believe is more suitable for me considering that I'd like to make my money in a short period and be done for the day, holding no positions overnight.

That being said, here's a few questions I have.

1. Are you consistently profitable due to a high win rate or by having your winners far outweigh your losers in dollar amounts? I'm asking this because I've read about day traders who have gone months without a losing trade.

2. What are your favorite markets to day trade...offering the volatility and liquidity needed to catch a good move and enter/exit cleanly?

3. In your opinion, is it good to focus on one market?

 

[1245]

I think that anyone that wants to focus on day trading should consider ES futures. When you make money, the 60/40 tax treatment means you can make less and keep more. Also, margin for day trading ES can be very low and you don't need a prop firm to get leverage.

 

[jack hershey]

I'd like to hear from day traders that are consistently profitable. Myself, I'm consistently profitsble in swing trading but I'm thinking about making the switch from swing trading to day trading being that I now have more time to do so...and also day trading I believe is more suitable for me considering that I'd like to make my money in a short period and be done for the day, holding no positions overnight.

That being said, here's a few questions I have.

1. Are you consistently profitable due to a high win rate or by having your winners far outweigh your losers in dollar amounts? I'm asking this because I've read about day traders who have gone months without a losing trade.

I am an intraday trader who takes profit segments one after another where the goal is to take the full offer of the market. therefore, I use information on a bar by bar basis. I stay on the correct side of the market, always.

In doing the above, I must obey the market at all times. AS soon as I anticipate a change in the market sentiment, I use the upcoming "turn" designated by the independent variable, volume, and/or, the price failsafe signal, to have my capital in the market and on the correct side of the market.

As a consequence, I have the answers to your questions: yes and yes. I win on almost all profit segments and if I have a loss reversing, it is in the nature of the small cost of doing business. Most people who criticize me by using their "standards", get the consequence of believing I am unbelievable; their standard is ill chosen and ill used.

2. What are your favorite markets to day trade...offering the volatility and liquidity needed to catch a good move and enter/exit cleanly?

I used futures commodity markets for intraday trading (ES, YM, etc.). I use two TF's to show three interlocking fractals. I do about 15 trades in the open and the same for the close. Midday is not too active. For every market turn I receive one of four signals: In meaning reverse, early meaning reverse, hold thru meaning stay in the existing trade, or sideline meaning get out of the position and use "re enter" before the next turn signal.

3. In your opinion, is it good to focus on one market?

It is best to start small and boot strap. Intellectually you are moving forward properly.
Bootstrapping takes about nine years to go from one commodities contract to making a million dollars a day. In ET some people say they have seen or know of such other people. To make 1mm a day it takes three intraday accounts @ 100 contracts each and 12 stock streams @ 100K shares each.

See inserts above.

 

[Dr_BVCC]

Great post Jack, now all we need is Surf and a few others to chime in and the OP will have all the wisdom ET can offer.

:eek::eek::eek:

 

[Redneck]

MT

Question 1;


Off the top of my head – there are only a few ways to have a high win rate – most of which – require no skill


The one which does involve skill – is being in sync with price

Even with this however.., there are still no guarantees


So.., allowing the profit from winning trades..., to outweigh the losses from losing trades - is paramount


In actual trading – a combination of both is required (being in sync.., while also allowing winners to outweigh losers - $ wise)


Where you’ve read about day traders having gone months without a losing trade – I’ve had 1 loser wipe out months of profit


Fact;

It only takes 1 loser…, and it will always only take 1 loser

And the real fun – we will never know exactly which loser that 1 will be (real kick in the ass this one is)

=======================


Questions 2 & 3


My favorite mkt / instrument may not be yours – you need to find yours

Yes…, imo it is best to focus on 1 mkt / instrument - but again.., we are all different


Successful Journey Sir


RN