Difference between newbie struggling trader vs successful trader

raVar said:
Although there is very little upside for me? To answer your post ... Yes, we beat our chosen benchmark, which is the SPX, by orders of magnitude. We are around 17% Annualized, with a Maximum Drawdown of -2.90%. I could post the Fund-seeder stats ... but meh ... that's for our internal use, and it's only been tracking us since September 23rd, and that's not enough history. Yes, it's beating just about everything out there. But anyone could have a 'one off' for a month, and do well. That's just not enough history to truly demonstrate the skill of the strategies.
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:thumbsup::thumbsup::thumbsup:

No need to show me your audited statements. :D This is an anonymous forum and we are all big boys.

Your uncorrelated trades are very interesting. I am going to analyze them carefully. Thank you for sharing.

Best wishes.
 
both have very different mindset.

successful trader :
market is full of opportunities.
Must stretch target profit till very long !


newbie / unsuccessful trader :
market is full of traps.
Must tighten the stop loss till very tight !
 
I do not consider myself successful. But I found an edge (they never last) and I am trading the heck out of it.

Es

P. S. I can never be successful as I have wasted too much time.
 
/ES 13sma cross 21sma long only trend following +$38,000 nine years, daily chart
/ES 13sma cross 21sma short only trend following minus $62,000 or if reversal style +$62,000
it's not supposed to make sense
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Noob traders are scared of the hard stuff. Here is a list.

Cross-Hedging (volatility adjusting offsetting positions)
Advanced techniques (spread,hedge,working orders)
Know how/when to use all instruments (option,future,EFT,stock)
Program your own software/hardware (yourself)
Knowing markets (both from the academic theoretical side and from a trader's perspective)
Well capitalized (have at least 6 figures)
Know all the jargon (institutional, market maker, HFT, spread paper, carry, basis, arb, etc)
Know the margin regulations (Reg T, SPAN, TIMS)
Know all the acronyms (CME,NYSE,NASDAQ,ICE,NYMEX,COMEX,LSE,LME,ASX,TSE, etc)
Have a relevant degree (mathematics/statistics/engineering/programming/finance)
History of markets (boom/bust, business cycle, credit)
Know finance (indexing, securitization,domestic markets, capital structure)
Know banking (monetary theory, policy, US fiscal and treasury market, and foreign)
Know the modern technology (High Frequency Trading, Program trading, inter-bank, etc)

and much, much more.

I would bet that traders that actually build or find a real edge and succeed exploiting it in the capital markets know 10 times more than whatever they need or are using. In other words, they know more than enough - They over prepared.

Think about this. Your competition has all this and more. They have PHD's and swarms of Ivy league grads, eager to make a name for themselves. Literally billions of dollars. (Blackrock, PIMCO, GS, UBS, Peak6, Jump, Jane Street, Optiver, etc)
 
successful trader :
When there is signal, he pulls the trigger without hestitation.

newbie / unsuccessful trader :
When there is signal, he counter check & triple check and make sure all planets are aligned before pulling the trigger.
 
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