Length of Time Needed To Believe in Trading Results

[HtownTrader]

Someone I know is trying to prove his abilities as a day trader.

For what period of time would you want to see results before believing in the strategy and his ability to make money and then even potentially investing your own money with him?

 

[SunTrader]

Not time. Number of trades (min 100, better 500 or more) over both bull and bear sequences.

More info will get you more pertinent applicable advice.

 

[maxinger]

It can take a few years, a few decades, or infinity.

 

[Heydrrich]

You can be the best trader, slip up and lose it anyway.

https://financialpost.com/investing/phantom-trader-who-blew-hole-in-worlds-oldest-power-market

 

[ironchef]

Someone I know is trying to prove his abilities as a day trader.

For what period of time would you want to see results before believing in the strategy and his ability to make money and then even potentially investing your own money with him?

In 2023 I developed a day trading method, ran a 6 months trial: 3 months of sim paper trades, 3 months of live real trades, collected the statistics of ~ two thousand trades.

It is not sufficient to determine if I have an edge. I think it will have to take a couple of more years of trading before I really know.

 

[tomkat22]

Maybe 500 if he's a swing trader,6000 if he's a daytrader. After that many trades he's probably either profitable or blown up his account.

 

[ktm]

I usually tell people they should know around the third Ferrari.

 

[maxinger]

I usually tell people they should know around the third Ferrari.

What strange language / idea.


You mean go to the 3rd Ferrari, and the answer is there?!?!?

Are you using Google Translate?
I think Chapgpt might be a better translator.

 

[themickey]

Someone I know is trying to prove his abilities as a day trader.
For what period of time would you want to see results before believing in the strategy and his ability to make money and then even potentially investing your own money with him?

There's a little problem....
When one creates a trading system, speaking for myself, it takes months to bed it down.
The longer one operates a new system, the more one finds little refinements.
Often the case becomes part of it may be scrapped and other add ons added.
Efficiencies improved etc.
That's the problem with many retail systems, a trader may only be able to cope trading one system and after a year or so it has morphed (if they can code) into an entirely new different beast.

 

[ironchef]

Maybe 500 if he's a swing trader,6000 if he's a daytrader. After that many trades he's probably either profitable or blown up his account.

6,000 sounds about right.