Stick with what you know, your job is to be profitable, best of luck!
I'm now a fully profitable trader after years of loss
- Thread starter Facepustok
- Start date
Stick with what you know, your job is to be profitable, best of luck!
What do you trade, timeframe, and what are your returns
-- there's no details here,
Exactly...the market has always had a "long bias"....this is so clearly depicted in the ever-so-popular "Double 7" strategy that only works well with long entries.
http://systemtradersuccess.com/double-seven-strategy/
But when that bear market arrives, look out below if you have not changed your tendencies and bias.
That basically means you're more like a short term investor and not a trader... you have to be open to shifts in the economic paradigm, otherwise you'll be the one that tries to catch the falling knife...
I'm more of a bull myself... but inevitably there are bear markets... and as a trader you need to adapt and pick the cherries whether they go up, down or sideways.
Long puts will keep one in the game, through a bear market.
If it works...keep doing it! FWIW, in my +20 years as a trader, I can recall numerous occasions where I had success for many months, only to succumb to the markets ever changing conditions and dynamics...had to learn to adapt. I'm not telling you this to discourage you at all...just be aware it may come. It's possible you may have something special. Good Luck!!!!!
Good Luck!!!!!Congrats.
Over 20 years ago when I scalped stocks, one year I just did nothing but shorting, no longs, one of best years I had at the time. Markets drop much faster than herky jerky longs. So many traders only do longs and why there so many more false signals going long I found in my trading.
Over 20 years ago when I scalped stocks, one year I just did nothing but shorting, no longs, one of best years I had at the time. Markets drop much faster than herky jerky longs. So many traders only do longs and why there so many more false signals going long I found in my trading.
What do you trade, timeframe, and what are your returns
I was more likely just sharing my stories rather than just telling what i do.
But if it helps someone i can before entering trades first I look weekly charts to look previous history/daily charts to see last few weeks charts/ then 30min then finally the 5min timeframe to enter exit trade. after years of losses, now im consistantly profitable without a single red day. even if its for 100 bucks, but its green. hope it helps.
I m a day trader, thats how i lost my 5 years of 70k income into the markets each year, after all my losses I learned a lesson, all i do now is avoid my previous mistakes, now i can read charts better before i enter trades, im a scalp trader means i look for 10c to 30c markup each entry exit with 3c to 4c of stop loss if my chart reading is wrong. I can go for trade either fall or rise but i do not go sideways thats not my type of charts. i will avoid shorts untill i can then maybe when bear market arrives, cause the rules are same either go long of go shorts