I have traded for the past few years with either marginally making money trading stocks and options. In addition having several quarters with losses. I am wondering have any of you been able to be consistently profitable trading stocks and options for a full time income? I am looking for a mentor to take my skills to the next level. I am willing to pay a fee for this.
Consistently profitable?
- Thread starter bballer2300
- Start date
You've been here for 4 years and asking such a question...check out the ET member Lescor. There's others here that trade stocks and/or options. My point, I guarantee they aren't going to show up in this thread and reply with a YES because they've already had their own documented threads.
Where you been the past 4 years not to know about folks like Lescor
P.S. Lescor does not mentors.
Someone once looked for a mentor to help him learn how to pick up beautiful girls. The mentor placed a few of them in a bar he paid from the fees he received and the student thought he was making progress. When the mentoring finished, none of the girls would fall for the student. He called the mentor and asked him why that was happening. The mentor said that if he paid some more he would learn the new tricks because the dynamics of picking up girls have changed lately...Some high frequency guys from out of town were making all the hits...
Trolls live under the bridge and on EliteTrader.
Yes. But if you're goign to follow anyone on ET, here is some advice:
- Do they post live calls before or as they enter trades? Or do they only post charts after the fact with perfect entries and exits?
- Can they give you concise answers without ambiguity to your questions, your do they answer you with vague doublespeak and fortune cookie nonsense like "do what the price tells you to do" that leaves you more confused than you were before you asked the question?
There are people who make their living trading.
There are many more people who try to teach others but who aren't actually profitable. It's easy to identify who these people are if you have a good BS detector and are good at identifying marketing that is all fluff and no substance.
- Do they post live calls before or as they enter trades? Or do they only post charts after the fact with perfect entries and exits?
- Can they give you concise answers without ambiguity to your questions, your do they answer you with vague doublespeak and fortune cookie nonsense like "do what the price tells you to do" that leaves you more confused than you were before you asked the question?
There are people who make their living trading.
There are many more people who try to teach others but who aren't actually profitable. It's easy to identify who these people are if you have a good BS detector and are good at identifying marketing that is all fluff and no substance.
It is possibly a subconscious issue than your trading plan, but your backtesting should be able to tell you where the problem is. Does your backtesting show much better results than actual? If that is the case, you are second guessing your real time trading. I highly recommend hypnotize monthly to overcome this problem. But if your backtesting is showing same results of actual real time trading, then it is back to work on your trading plan.
Good mentors should show you monthly brokerage statements for past three years, if they give you any BS that they can't...RUN quickly.
I have been buying or selling short stocks based on chart patterns . I wind up having a lot of small winners and large losses.
You'll never get the right answer, because you're asking the wrong question. Develop a strategy, but more importantly learn to identify when the market is no longer conducive to your strategy... then turn it off and/or size down.
The problem isn't your strategy per se, it's that you haven't figured out when to push and when to back off with your strategy. If consistency is what you're looking for then deploy a few non-correlated strategies so you can turn some on when some are non-performing.
The problem isn't your strategy per se, it's that you haven't figured out when to push and when to back off with your strategy. If consistency is what you're looking for then deploy a few non-correlated strategies so you can turn some on when some are non-performing.