Quote from austinp:
There are all levels of classes in any profession. That's an admirable achievement by a veteran stock trader, for sure.
Likewise the OP here... for sure
Back to the topic I touched on (and the last bit I have to say about that) would be no one, not anyone is profitable every day of trading. Period. That is especially true for ES specialists on the retail side... they all have many scratch and net-loss days along the way.
Too many developing traders assume that "day trading" means being profitable every day, or else it's being done wrong. Lescor is a shining example of that being foolish folly (if not an outright lie) and I'd opine the same is true for seven-figure guy alluded to above. If he had no net-loss days along the way, he'd be a nine-figure annual trader instead.
Right or right? Exactly.
Profitable trading is all about repeating what works a majority of time, and treading water thru the rest of time. As lescor said, when they turn the money spigot back on, his bucket is ready at the pump. day to day means nothing at all. Month and year means everything.
There is a lot of wisdom in the above, if not just common knowledge. Digging a little deeper, i would agree that many traders have after a few years, lets say 10 years, advanced to higher levels as the poster admits.
Would it not be likely that depending on the strategy, many traders have advanced to where daily loss days are rather rare? Lets look at the following ways as a couple examples, and keep it simple for comparison. Ok, certain strats work well when hedged, certain work well such as RTM, stocks might work better in certain strats better than commodities. (i am from the days where commodities were traded on Futures exchanges, so today we include stock index futs, interest rates, currencies etc). Lets say a trader had a presumptive strategy based on earnings or a strategy based on fading based on their individual thinking or what they heard from CNBc or whatever. Would that person even if well heeled and a excellent winner at the end of the year still have losing individual days rather often because the strat is based on thought?
Ok, let's move to another type of trader..........this type does not filter through many stocks or commodities and uses essentially the some technical based tools to trade in and out of a single instrument. This trader uses pure directional bias in anticipation of where price will move next. Now remember, this trader has been at their game as long as the other guys.
Would it be possible to almost eliminate losing days in this situation? Sure some days will be rather nill depending on the days range more than anything else.
NO TRADER, ZERO traders will ever be able to eliminate a lot of individual intraday trades.........this is not science, never will be with so many minds inputing individual thought processes.
Yes, we can progress, we find what works for us and never get to work on what others have found to work for them because we found our comfort own zone.
Like Joe Montana once said: "it became second nature to throw the ball to the receiver as we did what we did over and over.........the ball hit my hands and i made a couple steps backward and without thinking i threw the ball"
Keep up the good work, keep progressing, there is a lot of money out there traded daily.
PS: mullah.........yes i do talk a lot, the question you need to answer is does it help you to be a better trader?
___DONE___ Thks see ya in a few weeks
