One operation every day

[tommcginnis]

To be clear, this is "one trade per day" based on the opening -- that would scare me away.

Outside of OTM credit spreads, I am focused on *about* one trade per day, from trading signals coming *about* every three days. Sleep is MUCH better, and dammit, so are the returns. (Much reduced variance.)

 

[ironchef]

One trade a day can certainly do the job. The longer I have traded the more I realize how less is more. Your not going to over trade, are likely to be able to sustain the right mind set

Less is more because I am now more selective. After 10 years of full time, trading frequency gone down by several factors but profitability actually got better.

 

[murray t turtle]

Have you achieved consistency by operating only once a day?
I'm curious.
It seems to work but I need to operate more.

%%
YES;
but that is a long term average; 5 or 15 times per week long term average, closer to 5. But my favorite part of trading/investing is trend study. IT may be more operations than that in the future; it was with UPRO last year...............................................................................IT was lot more with single stocks ;which I seldom do anymore.

 

[toucan]

Have you achieved consistency by operating only once a day?
I'm curious.
It seems to work but I need to operate more.

I trade currencies, crude, natty, metals and bonds... I trade whatever future is moving somewhere between 5am and 8am... 99% of the time, I take one trade per future... I usually end up with 3-6 trades per day across all these futures. This process is profitable for me.

cheeers

toucan

 

[murray t turtle]

One trade a day can certainly do the job. The longer I have traded the more I realize how less is more. Your not going to over trade, are likely to be able to sustain the right mind set

There are plenty of traders doing very well year over year that place 3-6 trades each week on avg, & some rare birds that put on no more than 6 trading themes each year & just kill it with very good trade mgmt.

%%
I have in my plan+ its 2020 hindsight LOL ; do better trade/invest more next time the chart looks like JAN 2019/FED helping also. I also thought about trading more early to day, certainly commissions average less, but as you say less is more. IF I had started in 1974, I may have a different bias , with single stocks anyway LOL +true.
BUT I never try to catch the hi in an uptrending bull market;
+ like the research part more. than trading/investing.....................................................

 

[trader1974]

I trade currencies, crude, natty, metals and bonds... I trade whatever future is moving somewhere between 5am and 8am... 99% of the time, I take one trade per future... I usually end up with 3-6 trades per day across all these futures. This process is profitable for me.

Do you use futures with a strong trend?
For example eur / usd ?
Or nasdaq ?

 

[trader1974]

I trade currencies, crude, natty, metals and bonds... I trade whatever future is moving somewhere between 5am and 8am... 99% of the time, I take one trade per future... I usually end up with 3-6 trades per day across all these futures. This process is profitable for me.

I think it's a very good idea.

 

[murray t turtle]

Do..... futures with a strong trend?
For example eur / usd ?
Or nasdaq ?

%%
The wilder the trend, gold for example;
the more it could pay to trade more. Most of what I do is not that wild....................................

 

[toucan]

Do you use futures with a strong trend?
For example eur / usd ?
Or nasdaq ?

Trader... I daytrade the futures that I described above. I typically only make one trade in a particular future that day. I may also be in another future in the same category... for example, I may short the euro, short crude and be long yen all at the same time.... but typically, I wouldn't take another trade in those 3 futures on the same day. as far as strong trends, I usually get in early on in a trend so at the time of entry, I can't tell if its a strong trend or not, until after the trade is over. things that I do know ahead of time.... the average number of daily trends (5am pst to 8am pst) during this period and the percent of those trends that are more than twice my initial stoploss….. if the trend runs more than twice my initial stoploss, then I know the average range of the trend. for example a future may have 4 trends during this time period and 2 of those trends average greater than twice my stoploss (I would have a 50% chance of picking the good trends)… also, this good trend will probably run 2-3 times my stoploss….

I hope this helps

toucan