all in all, I look at it like a business with year end returns. if you are up at the end of your fiscal calendar year, you made money, therefore it is profitable.
Is it possible to win in one trade? Or are we supposed to lose 9/10 times
- Thread starter tradingacct1
- Start date
Oh and... trading everything out there when you're inexperienced is probably one of the worst things to do. You're not focused, you will never learn the specifics of a certain market. In my experience every stock trades different. FX is totally different than stocks. Indices are different again. Options are probably beyond your scope based on experience.
Stick with one or two indices for a few months. S&P500 and Nasdaq for instance...
Stick with one or two indices for a few months. S&P500 and Nasdaq for instance...
If you have a 90% loss rate you could almost market that to other's to take the opposite trades (hehe). Sounds like your fighting strong price trends and/or have a stop loss to tight. Here's what some of the top old timer swing trades with seats on the exchange do as a general rule. Only take trades where price is over a 5 to 10 (daily) simple moving average for longs and allow the price to swing 1/2 of the ATR, reverse this for shorts. Just be sure to size your position so as not to risk more than 1% of your capital on each trade.
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That would only be possible if knew why he was losing 90% of the time.
thanks guys. i am looking to get into day trading stocks since this thread. i would like to use trade ideas and their ai to see if i can get the hang of the discipline a little faster.
So @tradingacct1, I take it you're still pretty far away from 600k? 
So @tradingacct1, I take it you're still pretty far away from 600k?
Yes. very.
edit: and I have no problem sharing why.
Best way to learn is to acknowledge your mistakes and change your way of trading...
You don't learn from making money from the start, you'll just get complacent and get a GOD-complex
This started as a hobby, and even though I can do full time, it remains a hobby, found this mindset keeps some of the stress off. I have forced myself to always have something other to depend on as far as making a living funds. So idea of doing this for a living, unless you have few million in bank to keep stress off, way too many don't and fail.
Until last 3-4 years, I Scalped and had to keep losing down under 10% and long term trading was incredible under 15% profitable trades doing Commodities and being hedged every time changes bottom line greatly for me, so where I had in some instruments be 3% winning trades in futures for the year, were at the time I had over 100% return for the year. Year where energies topped at all times highs. Stocks trade differently than Commodities, they make different kinds of same chart patterns, but because of so many more stock instruments, I have found S/R not adhered as much like Commodities. Until recently, 3-4 years, only now been working on trending methods more so I can be ready for down turn in stock markets.
Although all systems but one is now automated, I still put in 60 hours plus a week on back testing which is my passion, I enjoy building systems much more than sitting there trading them. I have strengths of chart reading from 20 plus years of drawing them by hand.
I never knew when I started how much work I put into learning, I remember years went by of being in my cave doing 100 hour weeks. I love the game, I try to trade as perfect as I can, the outcome is just a percentage to me.
What I have found through others now, were my failures in the my beginning, trend is an illusion but required and way too many try to keep changing daily or by the trade, this changing is very bad as you not allowing your brain to get use to making comparisons, where price is in relationship to recent and recently past. Discipline or lack of is often times based on losing money and lack of knowledge, too often people wont take the trade that doesn't feel good so the brain gives you pain on these trades cause your brain now loves to lose and it is keen on making you see them as brain is happiest when you lose. 95% of my trades are the non feel good trades.
What most newbies don't realize, fees for day trading is the worst, you have to make up to and over 100% a year just to pay for fees.
You don't mention how you trade, or what you see as trend, so it is impossible for anyone to steer you in any direction.
Until last 3-4 years, I Scalped and had to keep losing down under 10% and long term trading was incredible under 15% profitable trades doing Commodities and being hedged every time changes bottom line greatly for me, so where I had in some instruments be 3% winning trades in futures for the year, were at the time I had over 100% return for the year. Year where energies topped at all times highs. Stocks trade differently than Commodities, they make different kinds of same chart patterns, but because of so many more stock instruments, I have found S/R not adhered as much like Commodities. Until recently, 3-4 years, only now been working on trending methods more so I can be ready for down turn in stock markets.
Although all systems but one is now automated, I still put in 60 hours plus a week on back testing which is my passion, I enjoy building systems much more than sitting there trading them. I have strengths of chart reading from 20 plus years of drawing them by hand.
I never knew when I started how much work I put into learning, I remember years went by of being in my cave doing 100 hour weeks. I love the game, I try to trade as perfect as I can, the outcome is just a percentage to me.
What I have found through others now, were my failures in the my beginning, trend is an illusion but required and way too many try to keep changing daily or by the trade, this changing is very bad as you not allowing your brain to get use to making comparisons, where price is in relationship to recent and recently past. Discipline or lack of is often times based on losing money and lack of knowledge, too often people wont take the trade that doesn't feel good so the brain gives you pain on these trades cause your brain now loves to lose and it is keen on making you see them as brain is happiest when you lose. 95% of my trades are the non feel good trades.
What most newbies don't realize, fees for day trading is the worst, you have to make up to and over 100% a year just to pay for fees.
You don't mention how you trade, or what you see as trend, so it is impossible for anyone to steer you in any direction.
Usually I trade based on feel as well as S&R. I always look out for high probability patterns. But, the problem is emotional. I get too into my trading and "god complex" when i win, or then overleverage, make a ton of money, and then give it all back because I feel it was "unearned".
Right now capitalization is hard, but to sum it up briefly, whenever i trade a market, i always look for where the market's price is in relation to its previous highs and lows and speculate based on where I think the sentiment is at that time and which direction it is moving to next.
Finding the instrument to trade is the hardest because I can't find opportunities all the time, but using a stock scanner like Cameron Ross does may be the only thing that can keep me sane in day to day trading... just found out about him through Youtube and he seems super legit.
I just can't do all this alone. It's too much. Emotional and psychological stress gets/got to me.
Right now capitalization is hard, but to sum it up briefly, whenever i trade a market, i always look for where the market's price is in relation to its previous highs and lows and speculate based on where I think the sentiment is at that time and which direction it is moving to next.
Finding the instrument to trade is the hardest because I can't find opportunities all the time, but using a stock scanner like Cameron Ross does may be the only thing that can keep me sane in day to day trading... just found out about him through Youtube and he seems super legit.
I just can't do all this alone. It's too much. Emotional and psychological stress gets/got to me.