Is there anyone here who is self-taught, consistently profitable and confident of continued success?

[destriero]

lol. yeah because on a cell phone being 6ft 3 with large hands after sharing smart information and spending 20 minutes writing it out for free .yeah he was being a dhick. take care and please start trading those micros !!! lol

You monster. I am 6’3” with banana hands and still find

the

return key.

WTF does you height have to do with it?

I digress.

/haiku

 

[destriero]

Bro, can you please use paragraphs?

 

[Handle123]

overnight tends to never be openminded to other traders opinions and no matter what you say he will relentlessly defend his position which clearly shows unadaptabiliy and like most people will resort to personal attacks if necessay; however, you are correct. percentage is the only way to properly measure moves. when the dow was at 7000 a 1 % move was 70 pts. now at 26 000 it is 260 points! obviously you cannot use points for trading. 2009 low 6469 of the dow! we are 4x that. atr changes stop placememt changes. Sadly for daytraders of futures the mkt is faster then ever and slower than ever. the pace is controlled to wear you out. they force loss to get u to d stupid stuff. in defense of overnights losses which sucks is that the mkt has changed in so many ways at the CME. people say the mkt is the same buyers n seller sure but the rules at your trade engine are changing for hft and large traders. they have huge advantages. i struggle more than ever lately and its intraday only getting harder. uktra sophisticated comouter modelling is at work to fool human brains on patterns and all the golden rules of trading. harder than ever to get behind a move but reducing position size is number 1 thing. if range was 70 points and you traded 5 lots which is big for retail. well 7 x5=35 points..if u get 10% of daily range. now at 26,000 you get 260 x 10% = 26x5= 130 points.
dollar terms 35 pts = 5x35=$175 in 2009.
2019= 130 pts x 5= $ 650. adjusting for inflation etc since 2009. you dont need $ 650 profit to maintain lifestyle. so if you reduce to 1 lot you get 2009= 7x5 = 35 bucks and in 2019 = 26 x5 = $ 130 dollars. which is still way above inflation. all based on profiting or losing 10% of the daily range. this is why the micro contracts are coming. traders are gettting crushed because they are not adapting to the mkt and reducing exposure in lot sizes. if you calculate inflation since 2009. that 35 dollars on a 1 lot @ 10% daily range capturr would be $ 41 bucks. so you really should using the micros because you need less than a 1 lot to keep your startegy the same and keeping up with inflation. here is the formula. 130 or 26 pts ÷ 41dollars= 3 roughly. so 1/3= .33333 of a 1 lot. if micro dow is .50 cents (emini es 1/10) then you need 3 microdows..so 3× .50 a pt= 1.50 per point. so $ 1.5 x 26 = $ 39 dollars. so your new trading size assuming your skill is the same shoulde be a reduction by 3! or new lot start size is 3 micros. this is why spreading is popular now. you reduce risk. this also helps explain recent liquidity and volume reductions in the emini es contracts. it is industry standard that reduce positions when volatility is high because you make the same but you also the same by reducing size in high volatility. hope this helps. another way to view it is that a 1 lot in 2009 is like doing a 3 to 4 lot in 2019 mkt percentages. it would be like doing 3 or 4 lots to start your position back in 2009. make sense?

For what is it worth, I enjoy reading your posts, they bring up ideas and truth to how markets have become. I don't notice it as much as my eyes adapt to changes like breathing. But comparing them to say five years ago, reactions at S/R have changed if one looks at tick charts. Volume bars have changed as well, whereas before you can see volume better at S/R and now happens as to mask what is happening, but study anything long enough.... I don't use ATR much, I study slopes of price-no slope means chops and tighter patterns, meaning buy/sell extremes of the range, steeper slopes I wait for the ends.....I believe large firms have changed charts long ago to sucker in unknowledgeable traders by what they view for intraday, most never study one bar at a time then study waves of swings, what are stats of what happens in last 10,000 times before bar by bar, many are no bars of have no meanings-just noise or continuation of going practically no where....I find this forum and other to be the same, many have too much egos, but dealing as in we all operate a business and all competing for money as end result, all have their own ways to express themselves, I have had to simply put some on ignore so it does not interfere with my non aggression stance on life going forward.

Much luck

 

[Peter8519]

...., many have too much egos, ....

Much luck

Everyone has it and it's very hard to fix.
Somehow, it has to do with how successful one is in the market.

 

[Overnight]

...I find this forum and other to be the same, many have too much egos, but dealing as in we all operate a business and all competing for money as end result, all have their own ways to express themselves, I have had to simply put some on ignore so it does not interfere with my non aggression stance on life going forward.

Much luck

Expression is important, yes sir.

 

[schweiz]

Everyone has it and it's very hard to fix.

When the pain of losing money exceeds the pain of losing your ego, you are good to go.

 

[padutrader]

When the pain of losing money exceeds the pain of losing your ego, you are good to go.

yep better to lose your opinion than your money

 

[BrooksRimes]

Bro, can you please use paragraphs?

Yes! His post is pretty much unreadable without paragraphs.

 

[helpme_please]

By consistently profitable I mean a track record of 3+ years with profits of at least $50k per year.

As you can probably guess, I'm interested in getting into this. It would be great to hear back from those who have proven profitable retail trading is possible.

You should also consider percentage gain. If the consistent $50k gain is only 2% gain of his investment capital, then one might as well buy risk-free Treasuries yielding 2% while working on a full-time job instead of dreaming to be a full-time retail trader.

 

[with interest]

Thank you for your responses! It’s encouraging that those who answered the question, unanimously answered positively.

I actually think there’s a lot of value here, so have pasted this thread (with a little editing) into the first section of my draft trading planning, Due Diligence.