Consistently Profitable Day Traders
- Thread starter Norm
- Start date
Hey Boy's and Girl's ,
I think Norm work's for our government . really
I feel he is looking to fine other ways
to take from us hard working investor's like us.
Remember the " 3 day " trading rule. That was one.
He mention 's
I would like to know if there are very many people who are consistently profitable. Yes Norm, all of us Americans
are profitable. Is that O K with you .
That is, they are capable of earning a living year-after-year, through bear markets, bull markets, and sideways markets.
Yes Norm. We are all capable of earning a living year-after-
year, through bear markets, bull markets, and
sideways markets. including you too.
I've seen people come and go at prop shops and day trading schools. But, the scope of my vision is certainly limited and I'd just like to know the reality of day trading for the long term.
Well we all have, seen people come and go at
prop shops and day trading schools.
The reality of day trading for the long term Norm is that you need
to put in lots of hard work, and invest lots of hard money like all of us hard working Americans do.
I know you want us all working for that " Minimum Wage"
thanks Norm
perr
I think Norm work's for our government . really
I feel he is looking to fine other ways
to take from us hard working investor's like us.
Remember the " 3 day " trading rule. That was one.
He mention 's
I would like to know if there are very many people who are consistently profitable. Yes Norm, all of us Americans
are profitable. Is that O K with you .
That is, they are capable of earning a living year-after-year, through bear markets, bull markets, and sideways markets.
Yes Norm. We are all capable of earning a living year-after-
year, through bear markets, bull markets, and
sideways markets. including you too.
I've seen people come and go at prop shops and day trading schools. But, the scope of my vision is certainly limited and I'd just like to know the reality of day trading for the long term.
Well we all have, seen people come and go at
prop shops and day trading schools.
The reality of day trading for the long term Norm is that you need
to put in lots of hard work, and invest lots of hard money like all of us hard working Americans do.
I know you want us all working for that " Minimum Wage"
thanks Norm
perr
I accidentally stumbled across this site earlier this morning and now this thread. It's an interesting subject and I believe you first have to start with a definition of what is successful as well as the definition of a trader.
I have traded for a number of years now and have been trading publically for over 3 years now (one of my portfolios).
I do believe that I am a successful trader and do it full time. I do my best not to take excessive risks but take risks nonetheless when the risk/reward is favorable. I have attempted to define a successful trader in a book I've labored on for a while and ended up with the following definition:
Successful Trader - A person who buys and sells (as stocks or commodities futures) and consistently produces short-term profits.
Furthermore, you need an objective measure of a successful trader and the three characteristics I've come up with are:
Whatâs needed is a more objective measure; a measure that leaves aside the question of how much and instead concentrates on the questions of
⢠Positive returns
⢠Capital preservation
⢠Outperforming the averages
If a trader can successfully accomplish the above three items on a consistent basis then that is a successful trader. I believe I am accomplishing this and I'm certain there are others also. Look at some of the books written about technical traders, especially commodities traders who have consistently proven you can make a good living trading. The Market Wizards seriies is one that comes to mind.
I have traded for a number of years now and have been trading publically for over 3 years now (one of my portfolios).
I do believe that I am a successful trader and do it full time. I do my best not to take excessive risks but take risks nonetheless when the risk/reward is favorable. I have attempted to define a successful trader in a book I've labored on for a while and ended up with the following definition:
Successful Trader - A person who buys and sells (as stocks or commodities futures) and consistently produces short-term profits.
Furthermore, you need an objective measure of a successful trader and the three characteristics I've come up with are:
Whatâs needed is a more objective measure; a measure that leaves aside the question of how much and instead concentrates on the questions of
⢠Positive returns
⢠Capital preservation
⢠Outperforming the averages
If a trader can successfully accomplish the above three items on a consistent basis then that is a successful trader. I believe I am accomplishing this and I'm certain there are others also. Look at some of the books written about technical traders, especially commodities traders who have consistently proven you can make a good living trading. The Market Wizards seriies is one that comes to mind.
Quote from Scientist:
Successful people don't indulge in bashing others. Re-read this sentence a few times, it might even sink in.
Thats the stupidest thing I have ever read!
Just kidding, I couldn't pass it up.
I think you are correct, I have gotten the feeling here that there are some profitable traders here, and then there are a bunch of frustrated people that are pissed off because they are not making the kind of money they think they should be making, so they just continue to bash and crap on everyone else.
Or maybe the bashing is due to their feelings of sexual inadequacies. I read somewhere that it was a problem with some people.
I truly believe you have hit the nail on the head, I have never met a truly successful person that felt he needed to belittle others.
Consider that if a trader is successful enough they need not do it for that long in order to make enough money to retire and stop trading because of the power of compounding. What you are left with in a place like this is those who either arent successful or are still working on building their fortune but probably many of the people who meet your critieria have no need to read this site.
And contrary to the posters in this thread that like to visit ET to laugh at threads like this, I can assure you that once I retire I will not be returning to ET, I will have better things to do with my time then try to make myself feel better by putting down others (as Scientist rightly stated).
And lastly I would like to thank EricP for providing some real insight into a succesful trader with hard numbers. There is so much BS here its a pleasure to actually run into someone who isnt afraid to put it out there knowing they are going to be hit with cheap shots as occurred in this thread.
Well said,
You're playing against the smartest brains money can buy.
You "accidentally stumbled across this site earlier this morning? and now this thread?"
ROTFLMAO!
Love your tag team pimp job, though.
You may find out pimping your own website is a no no around here for unpaid sponsors.
ROTFLMAO!
Love your tag team pimp job, though.
You may find out pimping your own website is a no no around here for unpaid sponsors.
LOL, that will raise some eyebrows. Let me guess: aggressive, short term mean reversion coupled with minimal compounding (ie, sweeping profits out regularly).
It was the perfect strategy for the past 3 years and could certainly have knocked down consistent gains like that. Essentially, it is the cash equivalent of shorting vega, and in a declining VIX/ATR environment, it is a perfect fit. The question is: what happens next. Strategies like this don't degrade, they explode without warning, as any number of blown up funds can attest.
Congratulations on the past 3 years, and best of luck going forward!
Cause speculation is still around and has been for a very long time. The Market, as a whole concept, as in any market, is not going anywhere. If it is, then you got much bigger things to worry about than being profitable.
I could have sworn this thread was talking about Day Trading.
Good luck to EricP. Nothing against EricP at all, but personally, I choose not to believe such claims. Maybe he's for real. But I've been taken before by others who post their achievements in a similar cold, detached, non-bragging way, only to later find out they were FOS. Once bitten twice shy.