Gentlemen, I did not say I was losing money. All I said was 'I feel like giving up' b/c I'm making the same as a McJob, which completely sucks!
I feel like giving up!
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Gentlemen, I did not say I was losing money. All I said was 'I feel like giving up' b/c I'm making the same as a McJob, which completely sucks!
Trading is certainly very bad if your goal is to get rich. There are a lot of much easier ways.
Personally, even if I wasn't successful at it I wouldn't do something else. Financial markets are my passion and that's why I trade. The money is a by-product.
Beside in trading as in most businesses almost only the passionate people that really like the job are successful. The others are struggling.
Ninna
For anyone reading this thread and wondering why they cant achieve their backtested returns, I urge you to consider something I have recently found with my own trading:
I noticed a huge discrepancy between my trading and backtesting that took me months to figure out. I would test a method and even front test it without putting cash on it. Then, I would apply a new set of r/r to make the method *more* profitable, and it would flop.
Finally, I investigated my stats. I found that by applying additional r/r filters, i screwed up the win % of my system. I took a 70% setup (when traded with all setups >.75 r/r) and brought it down to 45% by trading only setups with at least 1.5 r/r.
I know this seems like a small thing, but I am sure many make similar mistakes. Whatever you do to find a profitable system, make sure to replicate it to a *t* and dont assume the market will conform to any beliefs you have. Everything must be executed and tested using the exact criteria during back/front testing.
I noticed a huge discrepancy between my trading and backtesting that took me months to figure out. I would test a method and even front test it without putting cash on it. Then, I would apply a new set of r/r to make the method *more* profitable, and it would flop.
Finally, I investigated my stats. I found that by applying additional r/r filters, i screwed up the win % of my system. I took a 70% setup (when traded with all setups >.75 r/r) and brought it down to 45% by trading only setups with at least 1.5 r/r.
I know this seems like a small thing, but I am sure many make similar mistakes. Whatever you do to find a profitable system, make sure to replicate it to a *t* and dont assume the market will conform to any beliefs you have. Everything must be executed and tested using the exact criteria during back/front testing.
Not enough opportunities to trade. (wish the stock market went 3X faster).
Not enough liquidity. (you can't put down more than 100K into a trade w/o the manipulator noticing and making your life miserable or abandoning the manipulation altogether, leaving you holding the bag => I don't mean those stocks that go up maybe 5% in 6 months!).
time to dig deep...gut check...go to the hole one more time...ask Mr. Michael Jordan...
Have you considered trading something that really moves and provides several intraday swings, like CL (oil), 6E (euro)?
I get about 15-20 trades out of CL daily and make a decent living trading mainly 1 contract.
AAPL's a nice mover, too, though a bit stuck lately; plenty of liquidity in that one.
trade 50 contracts of Soybeans from 10:30 to 10:35 am EST...now that is movement!
But wouldn't that mean another five years of learning curve?
