Great Year So Far, But Am I Just Lucky?

Quote from dilly323:

Hi all,

Since the beginning of the year, I've turned $10,000 into my current balance of $62,000.

I did this by following intra-day trends on individual securities, rarely holding overnight, and cutting losses quickly.

I managed to be on the right side of a few big moves in the financial sector. For example, I caught ETFC when it bounced from $2, and I shorted BSC at $52 and covered at $35. I also made some good trades playing both sides of FSLR.

The most challenging part was without a doubt, overcoming the Patter Day Trade rule. When I was under 25K, it was very hard to take losses that I should have, knowing that it meant I would be out of the game for a few days--until my trades rolled off.

I have been trading off and on for 7 years, but never as seriously as now, and never really profitable until now.

So, what I'd really like to know is...

How can I tell if this is a lucky fluke, or if I actually...just maybe...have what it takes to be a profitable trader?

Thanks, Happy Easter
Dilly323
More...

Good job.

Don't get cocky though.

You're not going to find ETFC and BSC opportunities all the time. But if that's part of your style then be patient and don't force things until you see what you're looking for in an entry.

PS Ignore the comments from "cold" -- the guy seems to do nothing but post, post and post some more. I doubt he even trafes.
 
Quote from JamesVU2000:

If you continue to put together a solid track record you can get a job at some good prop shops that will give you a lot of tools. Thats something to think about in the future if you want to go that route.
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Would I need to do anything special to use my track record as evidence? My broker is IB, if that matters.

Sorry, I'm aware it's a noob question..

thanks,
Dilly323
 
I dont think so. Just print out copies. Check out the Trader Feed blog. There is some advice about prop firms. Goog Traderfeed, and prop firms and something should pop up.

I think taking 10,000 and turning it into over 60 is a very good accomplishment because like you said the pattern rule and your capital base is really tiny. in order to do it you have to be discplined and have good trading ideas.
 
Quote from DHOHHI:


You're not going to find ETFC and BSC opportunities all the time.
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Yah this is what concerns me. I know that market conditions are always changing, and this kind of volatility will not last forever. Someone in a chat channel went as far as calling it "1999 again".

So I hesitate to feel too cocky. I know that when the market cycle shifts, my strategies might turn against me.

Dilly323
 
Quote from dilly323:

Yah this is what concerns me. I know that market conditions are always changing, and this kind of volatility will not last forever. Someone in a chat channel went as far as calling it "1999 again".
So I hesitate to feel too cocky. I know that when the market cycle shifts, my strategies might turn against me.
Dilly323
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Yeah, but it seems you are smart enough to know when that occurs.....so all you need to determine is the new strategies to deal with the changed/shifted market.
 
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