Longest winning streak?

smilingsynic · May 31, 2006

Quote from chumptrader:

I try not to change the way I trade on an intraday basis. In the past if I found myself down I would try and make it all back on one trade, usually resulting in a bigger down day. So these days I stay patient, knowing that the trades will eventually be there. I do quick scalps and try and eat away at the loss, and when the setup is there I get in a few more shares. I've only had one real close call during the streak, where I got positive for the day on my last trade. As far as wiggle room, I don't give stocks much. I'll flat or lose a few pennies on 10 trades in a row before I catch the big one sometimes.

thanks!

Free Thinker · May 31, 2006

Quote from stewbacca:

I work at a firm in Austin, and one of our traders has gone 170 days without a losing day. Has anyone, or does anyone know anyone who has ever beaten this?

mr market.

swimsprintscash · May 31, 2006

more like stock star...

sanjai · May 31, 2006

I havent heard of this for long time. Once the reversal takes place the journey is over. I think the time has come and the market is in consolidation phase. It will be tough time for day traders.

blufftrader · May 31, 2006

consolidation is no problem for us day traders maybe for swing traders but not scalpers buddy

2manywhiners · May 31, 2006

Quote from sanjai:

I havent heard of this for long time. Once the reversal takes place the journey is over. I think the time has come and the market is in consolidation phase. It will be tough time for day traders.

Learn how to short. I like large retracements and/or reversals. So many investors want to "get the hell out of the bull before it turns bear," and that sets up large down trends. Will this market direction last? Who knows for sure? Learn to trade short, be humble, find patience, and you can win in any market that trends, as long as it moves up or down.

As far as daily P&L streaks, I've never been close to that many consecutive days. Then again, I don't scalp with unlimited BP and ridiculously low-or-no fees either. As far as Weeks go, my longest streak was 22. 170 days would be like 34 or 35 consecutive weeks. Not to undermine a 170 day streak, but I haven't had a down Quarter in the last 4 years. And yes, that includes late 2002 too. But a scalper that has a current 170 day streak probably hasn't either...

Keep up the good work. And as far as scalping goes, let me just stress that word, WORK.

5Pillars · May 31, 2006

Quote from chumptrader:

Quote from Yuguru:

if he doesn't have losing day, then he is not pushing the envelope enough. probably should be making 3x more. [/QUOTE

Thank you guys for all of the feedback both positive and negative. To clear some things up: Am I pushing the envelope enough? Probably not, but I am going to make at least 3X more than I've ever made in my trading career. I have a trading strategy that produces smaller, consistent profits. As far as upping the size everyday. I'll just say that when it's appropriate I up the size. That doesn't mean that I won't evaluate a trade and second guess why I didn't get more size. I constantly evaluate my trading and what I can do better the next time I see the setup. The advice that I can pass along is to find a trading strategy that you're comfortable with. If you're comfortable having bigger swings in your P/L then more power to you. I made the decision that I would rather produce consistent profits month after month, year after year, and the result is I make a little more money every year.

More...

Amen - I am fully in the boat of consistency is worth more than anything. I will only trade methods that have fully proven consistency so that I am able to build positions sizing at a faster pace. I build size at a rapid rate compared to many other traders I know, because I have enough trust in my system to never leave me in a detrimental trade.

Maverick74 · May 31, 2006

Quote from stewbacca:

I work at a firm in Austin, and one of our traders has gone 170 days without a losing day. Has anyone, or does anyone know anyone who has ever beaten this?

I know a guy who went an entire year without a down day. That's 252 trading days.

MR.NBBO · May 31, 2006

853 days.

Then got a trade busted that never ever, ever should have been...on NYSE.
Spec. gapped big, I got long, sold for a nice chunk. The customer complained & everything was "repriced" 4hrs later x 200% of the avg daily volume--GREAT

. I was now short, had to buy in for a 10.5k hit.
Made all but $900 of it back by day end. Scalping can give you 99.99% positive days if you're good--not that hard.

That said, I'm negative at least 1-2x a week now---different strategy style.

smilingsynic · May 31, 2006

Quote from MR.NBBO:

853 days.

Then got a trade busted that never ever, ever should have been...on NYSE.
Spec. gapped big, I got long, sold for a nice chunk. The customer complained & everything was "repriced" 4hrs later x 200% of the avg daily volume--GREAT . I was now short, had to buy in for a 10.5k hit.
Made all but $900 of it back by day end. Scalping can give you 99.99% positive days if you're good--not that hard.

That said, I'm negative at least 1-2x a week now---different strategy style.

What is the secret to scalping NYSE/AMEX stocks with 99%+ winning days?

I am not asking to be sarcastic. I really want to know. I don't trade for a living, and I have a day job that I won't quit until I'm 70, but I AM curious how you guys do it. I have to say--I am impressed.