Quote from Handle123:
My longest trade in 34 years was 3.5 years, was long Japan Yen, many rollovers. I also recently started doing med term of up to two weeks and I (and my staff) day trade fourteen markets 24 hours a day, seldom in any of them more than couple hours in length of a trade.
Long term, depending if short I hedge almost everything initially, so many losing trades in futures, I will cover losses in options, longs it depends on other factors. I will risk anywhere from $500-$800 per contract. First target is based on volitility but reward to risk is 6 to 1 min and runners more than that. Win:loss based on just futures over 20 years so far, is 28% winners. You have Outstanding years and then you have years to fight to make anything in profits, I have found day trading to make long term lean years to be huge benefit. Longest losing streak was 23 in a row and only lost $4750, and that was nearly 21 years ago, I have since made many changes to how I trade and almost impossible to lose that many again. My day trading on the otherhand has gotten to become very very good thru years of experience but at least 80 hours per week of screen time, I now average down on all my day trading signals, my concentration of not losing has paid off and weekly Goal of less than 8% losing trades overall is made often. We do have many many trades of one tick in ES, and I do not pay retail which helps greatly.
Time in front of charts NOW for long term, have it programmed is nada, but when I had to do it manually, two hours on weekends then 30 minutes day.
I don't always have time to come to this site...
