Do u think consistent winning every month is achievable?

[polpolik]

Quote from innovest_11:

I can see quite a number of positive replies, how long can one maintain this trend of winning every month, will there be a time of disaster?

I'm not the greatest of traders but I haven't had a down month in about year or so I think (went fulltime a little over a year ago). So yes, this is possible. The only time you encounter disaster in most cases is by your own doing - over leveraging, refusal to take a loss, etc. I think if you're truly trading for a living, these kinds of gamble just aren't acceptable anymore.

I got bills to pay, future to save up for, etc. I can't be trying to prove that I'll eventually be right by holding on to a loser.

My primary objective is to make money every day - being wrong is part of the job as long as my P&L is positive. I don't go for the over-leveraged lottery type of trades either.

I guess what I'm trying to say is, once you get over yourself and realize losing money is no joke - you're a few steps farther from a trading disaster than most people.

 

[asap]

Quote from WD40:

You are only as good as what you believe you can achieve.

http://thesecretstory.com/
http://www.amazon.com/Think-Grow-Rich-Napoleon-Hill/dp/0449214923

wow.

here it comes once again.

thesecretstory.com crap is about take off now. imagine a site which is accessible to anyone across the web, whose purpose is marketing (and sell) the "secret" of success. what a freaking paradox. but wait, you have to see it. it looks like alice in wonderland, pathetic mickey mouse design and full of trivialities.

read quote:
"The Secret has existed throughout the history of mankind. It has been discovered, suppressed, hidden, lost and recovered. It has been hunted down, stolen, and bought for vast sums of money. Now for the first time in history, The Secret is being revealed to the world over two breathtaking hours."

LMAO.

i cant wait to order my copy.

 

[innovest_11]

Thanks for your reply, i switched to day trading from swing trading recently, and seems to work for me, that's why I'm wondering whether this is sustainable. Or I'm living in dreams.

But the difference from swing trading is that day trading can be quite stressful, so stress that sometimes u can have cold sweat.

Quote from jbob:

Yes, winning every month is possible and almost is necessary to be successful in trading. Sure, someone may make money 6 months of the year, and lose the other 6 months, so they would be breakeven in the end. However, would you really consider them successful? You have to remember that 95% of traders lose money anyways, so achieving consistent profitability every month can be difficult. Just because most don't do it, doesn't be its impossible or not important.

The way I see it, you have to come out ahead (or at least not too far behind) each and every month if you are day trading. Almost every week is also important. However, regarding the people that say you have to win everyday, I think that's a bit far fetched. Sometimes you or your method will just not work in certain environments, so its better to accept the losses and walk away rather than dig the hole deeper. So yes, losing days are OK and sometimes welcome. However, the majority of weeks should be profitable, which leads to almost a profit every month.

 

[ts888]

Quote from asap:

wow.

here it comes once again.

thesecretstory.com crap is about take off now. imagine a site which is accessible to anyone across the web, whose purpose is marketing (and sell) the "secret" of success. what a freaking paradox. but wait, you have to see it. it looks like alice in wonderland, pathetic mickey mouse design and full of trivialities.

read quote:
"The Secret has existed throughout the history of mankind. It has been discovered, suppressed, hidden, lost and recovered. It has been hunted down, stolen, and bought for vast sums of money. Now for the first time in history, The Secret is being revealed to the world over two breathtaking hours."

LMAO.

i cant wait to order my copy.

so what you are saying is that if I purchase the Secret I will not be profitable every day of the year??? OK, damn, back to the drawing board.

 

[Champion]

Quote from innovest_11:
hi,

Do you think winning every month in doing intraday trading is achievable?

Any experts in intraday trading can comment whether this year is especially favourable for intraday trading based on your experience?

Yes.
Every year.
You are completely dead in the water if you are not net up each month. You need to be daily net profit making. Big trading success is not a jacking-around exercise; its not some sort of 'pick & mix' dogshit conducted when you happen to feel like it.

This is a business to win at or fail at. You take no prisoners in this game if you want to win. You must obtain or devise a trading system that brings in what the market is offering each day and thats big points in any session when you trade it, open to EOD.

 

[sunggong]

As a scalper, here is my expectation:

- Losing $ on any given trading day is a shitty day, but shit happens sometimes. I just have to make sure it doesn't happen more than 5% of my trading days.

- Losing week should NEVER happen. Maybe once every several years perhaps....

- Losing month is simply IMPOSSIBLE.

Quote from innovest_11:

hi,

Do you think winning every month in doing intraday trading is achievable?

Any experts in intraday trading can comment whether this year is especially favourable for intraday trading based on your experience?

 

[orion19]

One of the better analogies I've read is likening intraday trading to a casino business model. Casino's are successful because they don't gamble (they let the patrons do that). Instead, they make it a matter of risk management and probability. Most of the casino's patrons throw these two principles out the window and that's why it's such a lucrative business for the casino owner. The owner of a casino can't expect to win every hand of blackjack or win on every spin of the roulette wheel. In this light, you should not only anticipate losing trades (or losing days) but expect them. They should be accepted as legitimate business expenses. The casino owner knows that if he sticks to his system he'll have probability on his side and, even though he doesn't win every hand, he'll be profitable. Extend this idea to any time frame you like - numbers don't lie.

 

[wetnurse]

Quote from orion19:

One of the better analogies I've read is likening intraday trading to a casino business model. Casino's are successful because they don't gamble (they let the patrons do that). Instead, they make it a matter of risk management and probability. Most of the casino's patrons throw these two principles out the window and that's why it's such a lucrative business for the casino owner. The owner of a casino can't expect to win every hand of blackjack or win on every spin of the roulette wheel. In this light, you should not only anticipate losing trades (or losing days) but expect them. They should be accepted as legitimate business expenses. The casino owner knows that if he sticks to his system he'll have probability on his side and, even though he doesn't win every hand, he'll be profitable. Extend this idea to any time frame you like - numbers don't lie.

True, but the typical trader doesn't have the pure mathamatical edge the casinos have and therein lies the rub. Also, the casino has an unlimited bankroll and a single bet maximum to insure they don't get busted by an exceptionally lucky player.

Traders can only wish they had the odds working in their favor like a well capitalized casino that takes a "tax" from the gambler on each every single bet made.

 

[orion19]

Quote from wetnurse:

True, but the typical trader doesn't have the pure mathamatical edge the casinos have and therein lies the rub. Also, the casino has an unlimited bankroll and a single bet maximum to insure they don't get busted by an exceptionally lucky player.

Traders can only wish they had the odds working in their favor like a well capitalized casino that takes a "tax" from the gambler on each every single bet made.

I can see where your point lies, but in relationship to this threads purpose I'd have to disagree. The focus is that, althougth traders lack market clarivoyance, the use of fundamentals, techincal indicators and the like allow for a comptetitve edge. That edge isn't a guarentee that a trade will be profitable, but if it is played well consistently and with proper money management techniques consistent profits can be acheived.

 

[Stealth Trader]

Quote from MandelbrotSet:

[B
Less blogging, more trading. [/B]

Says ET's resident poseur with approximately 1200 posts in 90 days.

Pot, kettle, black……………….. Priceless!!!!



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