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

andre.salmeron said:
My understanding is that you should worry about understanding market action - that is, how market agents generate price movements -- rather than price action
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My understanding and experience is there is no right or wrong way to trade and read the markets. Every method is okay as long as it's "consistently" profitable. The quality of the system consist of many different factors and the setup method for entries is only one of them.

What comes to price action and what I've learned about it just tells you what the buyers and sellers are doing right now and have been doing in the past. It doesn't tell you anything exact about the future nor predict anything. This is crucial to understand.

I use price action just to keep me on the right side of the flow. The key thing is to learn to read the markets so you can understand is it moving up/down or is it going nowhere from the point of view of your system. Different systems must have different rules.

I personally do have a pattern what I follow but it's not a setup pattern for a position. It's the foundation around which I built my current system.
 
trend2009 said:
in my case, before I started trading in the end of 2006, I had studied market for 3 years. in 2004, I bought 20 dell precision desktops, and used machine learning to identify profitable patterns. the calculation was so cpu intensive, at one point, it caused outrage in my apartment. the software dug out hundreds of patterns with statistical meaning, most of which were due to over fitting. after careful research, I located one pattern that has true edge, which i have used since then for the last 12 years. the trading system has less 2% dd over the last decade, sharpe ratio on average above 7. I made 230% in 2007, 250% in 2008, since 2007 was bull and 2008 was bear year, I figured my system had survived both bull and bear cycle, and thus I had confidence that I could quit the tenured government position.
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lol. @Handle123 has another handle. Blocked.
 
wow nice pattern recognition. No wonder you are a trader
I felt something strangely familar but I couldn't pinpoint it till you stated specifically what it was
 
TickSeeker said:
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I personally do have a pattern what I follow but it's not a setup pattern for a position. It's the foundation around which I built my current system.
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Could you please elaborate on that? What foundation?
 
globalarbtrader said:
... Also forgot to add the #1 guy on FS (who remember, can still lose money 3 months straight and certaingly isn't profitable every single week) is making a massive 5.9% a year on ~$350K eg $20k a year. So this may not be a scalable strategy that you could pursue full time and make a living from. More scalable strategies will be less profitable and tend to lose money more often.
GAT
GAT
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GAT,

I'm shocked by how low that 5.9% number is. With a large number of people participating, I would have expected the #1 trader to be making at least several tens of percent per year with a reasonable max drawdown and other performance metrics.

Does the Fundseeder scoring system give particularly strong weighting toward systems with the lowest risk profiles/smallest drawdowns?
 
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jl1575 said:
Yes, consistency can mean a lot of things: consistent profit, that would mean you are net positive by a fixed period of time, either weekly, monthly or yearly; just measured by different ways, also determined by what level of complexity of the operation. Consistency can also mean the functions of systems or a set of indicators or algos perform in a repeatable and reproducible fashion in different market conditions.
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To me consistency can only mean one thing: Consistently doing better than my benchmark. It means doing better than SPY, year in year out. Otherwise, why trade?
 
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