How much did it take to become more or less consistent for you?

[jl1575]

Same here. During my over 10 year trading career I've found only 1 pattern which works year after year (gives a positive expectancy). I have used thousands and thousands endless hours to find an another but no luck.

Fortunately 1 is enough.

Mental control and money management of course are mandatory but without an edge (in the long run) mr. Bell Curve will make sure you're not going to make it.

I did a traditional journey with all the bells and whistles until after about 4-5 years understood to clean my charts but price bars and started to see the market which helped me to find this pattern together with a lot of data mining and backtesting.

Yes. I think you just described another criteria of consistency. People would say, this trader reach the stage of making profits consistently, or in another case, this system produces wining trades consistently, or like you said above the pattern you discovered worked consistently. As a scientist, what we value greatly is the reproducibility(repeat over and over again, but not randomly), and I believe engineering works in the same principle. Just for example, if the automobile is functional consistently, then when you hit the gas pedal you expect the car to move, and when you hit the brake, it should decelerate. Of course trading is more complicated than that, but in principle it is that simple, if you appreciate Einstein's simplicity theme.

 

[murray t turtle]

I study charts in my spare time for about 2 years, I feel like I've developed a system, but before I started to trade full-time obviously I can't be sure and rely on it fully. Also some people say it tooks up to 10 years to become consistent. So I'd like to ask you, how long it was in your case (did you do it full-time or part-time), do you have some tricks that helped you to accelerate that process? Thanks

%%
YES; prj, Don't fight the FED.
Most of the millions made/billions are market makers/specialists + investors.
10 years is a good trend measure; but should not take 10 years. Sorry,+ even 10 years is not a predictor ;google Knight Capital.,

 

[SimpleMeLike]

I study charts in my spare time for about 2 years, I feel like I've developed a system, but before I started to trade full-time obviously I can't be sure and rely on it fully. Also some people say it tooks up to 10 years to become consistent. So I'd like to ask you, how long it was in your case (did you do it full-time or part-time), do you have some tricks that helped you to accelerate that process? Thanks

3 years in counting and still not consistent profitable, but not consistency losing.

The key for myself is continued studying and confidence building by practicing and recording results to confirm positive expectancy.

I would say just keep on trading and measure results.

 

[murray t turtle]

3 years in counting and still not consistent profitable, but not consistency losing.

The key for myself is continued studying and confidence building by practicing and recording results to confirm positive expectancy.

I would say just keep on trading and measure results.

%% OK;
but isn't your investment of VOO doing very well??,????? >>26% YTD

 

[Times]

There are VERY few things that work. In fact, so little the struggle was not having enough so I would try to jump into something else. It wasn't until I stuck with the little that did work until I started growing and being consistent.

Basically stick to what works even if its tiny. It can grow and compound.

 

[prj]

Define consistent

GAT

Of course all definitions are controversial, let’s say the point when you understand that you can make it

 

[prj]

Guys, thanks for your ideas about algo, but nobody said about actually how long it took for them to get consistent (again, I know it’s not easy to describe, but if you are not more or less consistent you could just not answer)

 

[TickSeeker]

but nobody said about actually how long it took for them to get consistent

In calendar something about 5-6 years but I think the used hours would be a better measurement because we all have different lifes (full time, part time, mixed...). In my case the number 8000 hours may not be far away from the truth.

I read somewhere that to learn any profession by the way you really can say you are consistently good at it will take 10 000 hours average. Based on the fact what was not clear but understandable.

The point is the average. There is guys who have made it a lot faster and those still learning. The key is DO NOT QUIT

 

[SimpleMeLike]

%% OK;
but isn't your investment of VOO doing very well??,????? >>26% YTD

murray t turtle,

Yes, in my long term 401k retirement account, I am doing well with all investment in S&P500 index and contributing a lot bi weekly.

My day trading income is still work in progress.

 

[SimpleMeLike]

Consistency in basic terms would be profitable every week, or every month or so; One of the experienced guys who designed many custom indicators and systems said he could guarantee a paycheck every week, and some one at ET here (she stopped posting for many years now) said she could almost be profitable every day if she have enough opportunities to enter trades (like 10 to 20 trades) on the day. Of course, that is a simple way to define it, and certainly there are more criteria to that.

LMFAO LMFAO HAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHHA guarantee weekly profits.

Yeah sure, and me and Donald Trump just finish hunting white tail deer in Texas and buying hookers.