How long before you can be called "consistently profitable" ?

Quote from richtrader:



That's the point. :)

Sorry, this didn't really help your thread. Are you interested in marketing your system or is this for your own edification?
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Oh no, the system I use is publically available anyways..

just wondering how long before I can say I've gone from a chop around break even trader to a profitable one.

For instance, 1 month of winning can just be a hot streak .. ya know.
 
Quote from qdz:

I was profitable in every day for two weeks but it just took another two days for giving all my gain back. That's not consistent. I know what went wrong. Something changed.

:p
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When I was chopping around , I always found that my worst days come right after very good days. Seems like I get overconfident and fail to respect the market (overtrade, trade too big, trade so-so signals) and what it can take away from me.
 
Quote from bobcathy1:

The easiest way to "prove" your system is to back test it through several different kinds of business cycles. Bull market, bear market or yearly cycle sort of thing.
TradeStation has backtesting and optimizing capabilities to test that way.
However, your own prejudices and fears change your trades when you enter them yourself. So it is hard to find a meaningful backtesting result unless you automate your strategy.
If you can make money in several types of cycles that means you are "consistantly profitable".
Does this help?
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Thanks, the system is based on visual trendline breaks and setups on the CCI (Woodie's system) which would be impossible to program.

Therefore, I've been keeping a real time trade log of the system setups on a trading simulator for the past 4 days:

23 wins, 16 losses, 2 BE about 60%
Wins +53.75 ES pts , Losses - 18.25 , Net: 35.50, 2.95 W/L ratio

I've even thrown in .25 slippage on both sides , so the win % might be better in real life. Granted, it is just 4 days but very promising for a break even trader.
 
I know, it is impossible to program my system too.
Too subjective.
Going to try though, the idea fascinates me of money being made
automatically while I live my life.:D
 
I know a guy who works midnights at an auto plant and then trades at a prop firm during the day. He's been profitable for 3 years and makes close to 6 figures trading. He says he rarely has any losing days. Yet he will not quit his factory job because he thinks he hasn't proved anything as a trader. He is not sure if his profitability will last.



If your next question is "what does he trade?", he scalps NYSE stocks.


:)
 
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