How long did it take you to become consistently profitable?

[qxr1011]

As in your average profits started to exceed your average losses by atleast a ratio of 1.5 and above?

It was profitable next day, then next week, then next month, then next year, and then not...

and then again,

and then it became clear that one needs a proper definition of consistency,

and later it became clear that consistently means till one dies,

if method stops working the day after one is dead who cares - he was a great trader

My point is: stop asking questions, for which you do not know correct answers

 

[ETcallhome]

if method stops working the day after one is dead who cares - he was a great trader

well said if it cracks me up

 

[pinfire]

I had no idea how much time an average trader took for success. It is different as they all are different in their trading skills. I am happy to work with Mayzus regulated broker because they are giving me fair services I can get my profits in hands due to their secure payment method.

 

[hoa_elite]

Took me 5 years to make any money but I had much to learn, bad habits to reverse and adverse traits, most do. You are well on the way when you are a scratch trader and you cannot remember the last time you ran a loser.

Next stages for me were banking when the bulk of the move was complete not trying to squeeze out every tick.

Then having a small down day and powering down knowing that its ok and the most important thing is keeping the loss small.

I never consider the job complete always respect the market, always develop, stay healthy and well rested, try and enjoy it.

Take your time, scale up slowly. Once you have the winning mindset, hold on to it, nuture it and make it part of you.

So now, are you earning consistently profitable?

 

[endicottsteel]

So now, are you earning consistently profitable?

Getting more consistent yes. I have down weeks but haven't had a negative month for a while. There are no shortcuts, time, psychology cannot be rushed.

 

[radex78]

Well, I was consistently profitable (as in "for over a year") before I had an overall PF of 1.5+.

But to answer your question as you've asked it, between 2 and 3 years, I think (that was all on demo: I was on demo for four years before ever entering a real-money trade).

Practice in demo more than 2 or 3 years is very good as early preparation, might trader will faced many kinds market condition, and they can learn well to making own strategy before jump in real account, might many looser because rush jump to real account without adequate learning through demo account

 

[hoa_elite]

Getting more consistent yes. I have down weeks but haven't had a negative month for a while. There are no shortcuts, time, psychology cannot be rushed.

congrat. which strategy are you using?are u a scalper? I'm planning to become a scalper!

 

[Handle123]

I know that having my GF by me, especially naked, would be a huge incentive to trade well....LOL.

I have lost more money with them naked next to me than the cat tapping the mouse with his paw. You get so bored, and I lie to myself saying "OH, yea, I can do this....", then hear in background "Order filled" on losses. Even lost money when there been flies in the room, went out and bought electric bug zapper and battery bug zapper handheld.

Can you explain what is the "breakeven plus one tick" strategy ?

I use Time stops as one of several nuances when in a trade, I found by learning about time on profitable trades they happen in so many minutes, also learned at some point profitable trade can turn ugly if price stalls after so many minutes. For ES/NQ I use 3 bars, whether minute bars, three minutes etc...so after so many ticks positive in a trade, I will lock in one tick whether hard or mental stop, if at a loss after three bars, my target changes from 2-3 points to one tick, and since I average down, all those are exited at that same plus one tick area, so on breakeven trades plus one tick, I do well cause of the add on trades getting out with small profits. But regardless, trades that do well take off usually pretty quick, and I am never married to any trades, so if they don't go where I want quick enough, I am trying to get the plus one tick profit. Let someone else pay my fees and lunch.