What if he has really tight stop losses? That would make sense. Ofc, he could just be bs'ing all of us which is also a high probability.
Is it possible to win in one trade? Or are we supposed to lose 9/10 times
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not to deflate the point, and float any other ideas around, but trading (day trading) in any form is a tough game. i really don't know many masters at it who do it full time without losing or giving it all back. either you give it 100% focus (which even then you are a better than 40% shot, or, watch someone else trade your money and let it wither away. tough game.
I think you are confusing trading with having a job.
can't it be a replacement?
He mentioned that before and I was wondering the same..
If the losers are small and the winners are big, what's it matter in terms of profitability?
In terms of portfolio performance, though, it leaves more to be desired, I think a high win-rate is better for observing systemic drawdowns or mistakes.
Robert, it was on a six figure acct. Note that I'm not a day trader...I like to aim for bigger amounts and that tends to mean keeping overnight at the least.
I'm looking to do another big trade next month....i'm thinking and preparing...in the mean time I have a few tiddly trades on the es and gold on.
I'm looking to do another big trade next month....i'm thinking and preparing...in the mean time I have a few tiddly trades on the es and gold on.
way off topic, can we please keep the thread back on its original chain?
losing trades. is it possible to day trade and win long term?
losing trades. is it possible to day trade and win long term?
How is your trade management? I reckon you lose mainly because you have none?
Timing is very hard, which means that very likely you're not buying the absolute bottom and selling the top. Usually you try to buy 'near' the bottom and sell near the top. Which means that initially you will have a loss on your position because timing is never perfect.
So, trade management... you buy near the low/bottom... do you sell too quickly at a loss when the market dips further? And when you do, do you at least let your profits run?
Having 90% loss ratio is pretty bad, but when your gains are >10x you losses per trade (your target settings) you would still make money... But again, 90% loss ratio is far from enviable.
Statistically, to get a 90% loss ratio, would mean you are cutting your losses too quickly.... because on average with a blind push of the buy or sell button you would still have 50/50 win/loss rate.
And, maybe don't trade too much. Only when you have a clear idea. If that fails as well... yeah, maybe not for you eh?
Timing is very hard, which means that very likely you're not buying the absolute bottom and selling the top. Usually you try to buy 'near' the bottom and sell near the top. Which means that initially you will have a loss on your position because timing is never perfect.
So, trade management... you buy near the low/bottom... do you sell too quickly at a loss when the market dips further? And when you do, do you at least let your profits run?
Having 90% loss ratio is pretty bad, but when your gains are >10x you losses per trade (your target settings) you would still make money... But again, 90% loss ratio is far from enviable.
Statistically, to get a 90% loss ratio, would mean you are cutting your losses too quickly.... because on average with a blind push of the buy or sell button you would still have 50/50 win/loss rate.
And, maybe don't trade too much. Only when you have a clear idea. If that fails as well... yeah, maybe not for you eh?
This is a much broader question than you realize.
What is "long term?"
What is "win?"
Would coming out with a single dollar everyday be winning?
Is it related to a percentage growth on your capital? How much of a drawdown is acceptable?