Its impossible to be profitable in trading as a retail trader
- Thread starter quant983
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Not impossible, difficult yes and often takes years to develop into consistent profitability. Most want to rush it and lose early unnecessarily. Dues will be paid in any event.
Need intention eventually, maybe required long years as long as still treat as business, but yes still difrficult to making profit consistently, rush in trading is like as disease retail trader which want making quick profit
What you are missing is more important and this part is not even mentioned.
Despite all the snake oil of price action , trends , trend trading and technical analyses , the proof of the success is 95 % of all traders lose .
https://www.google.co.uk/webhp?sourceid=chrome-instant&ion=1&espv=2&ie=UTF-8#q=95 % of all traders lose
many traders suffer delusions in processing information about a trade
Even if a trader was given a profitable system , method or education on price action , technical analysis or trend trading , most traders would fail because of their psyche .This is what the trading industry does not want you to know , their marketing charlatans still keep promoting technical junk science as the key to success , that is only 20 % of the equation .Little knowledge is dangerous.
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I have quite a few clients who are successfully (profitable) trading futures spreads on a retail account basis. So, yes, it is possible of course. Having said that, we have a highly refined trading system that is and has been an ongoing evolution since the early 1990's. And it has changed over time - namely; a movement towards a streamlined trade entry confirmation protocol, lower volatility products and longer holding time frames would be the most prominent features.
So, possible - yes. Requires a refined and well-tuned trading system - yes.
So, possible - yes. Requires a refined and well-tuned trading system - yes.
The main problem I see with trading is the mental aspect of it , this is where traders mostly fail.
The solution is set and forget strategies , these eliminate most phsyche issues of traders.If you have mastered , set and forget strategies , option /futures spreads offer the the only hope.
Well, from my experience there is more than a little truth to that. And by mental, I see it as potential clients who come to me with emotional pain caused by excessive and misplaced risk as well as the resultant destroyed confidence.
But, getting thoroughly schooled on a good trading system, and then paper trading the system with a large degree of accountability can build that confidence back if the client is willing to put in the work and make the commitment. I am also rather harsh at strategic times with clients who bullshit themselves and bullshit me.
You also make a fair point about the products traded. It would be asinine for any person to equate certainty with trading. Furthermore, > 90 % of the positions a trader enters are going to be underwater for some portion of that trade's lifespan (especially since we are swing trading). Intramarket futures spreads especially are good for moderating anxiety in terms of a very modest trading range and volatility. And once a trader gets his confidence in stride as well as a positive account equity balance, then those same spreads have such a thick bid/ask volume that scaling up is not a problem.
That's the way I see it. YMMV.
In terms of my own clients, they need to build up their self-assurance by appreciating their own ability and their own results. And that takes time and commitment. The clients that I see do well with my system in the live markets are the clients willing to paper trade under my close tutelage for 12 months - and to meet with me one-on-one in order to discuss each and every trade entry and the placement of each profit target and stop-loss level. Over time, mistakes are greatly reduced or eliminated, and the client becomes more proficient at spread construction and sexy trade entry identification. Then there comes a point in time where the client says "fuck it I can't take it any longer" and he opens an account and he starts trading for real.