successful traders...????

alanack · Jan 23, 2003

Successful traders only, please... Approximately how many trades would you say you made before you became consistently profitable? How many before you knew for sure you could survive long term?

Alan

goldenarm · Jan 23, 2003

Approximate calculation is as follows:

60 trades per day x 240 trading days x 2 years

equals 28,800 trades

vladiator · Jan 23, 2003

Quote from alanack:

Successful traders only, please... Approximately how many trades would you say you made before you became consistently profitable? How many before you knew for sure you could survive long term?

Alan

Hmmm. It doesn't have to be related to the number of trades at all. I happen to be one of those who believe you have to have everything researched, worked out and rechecked before you take the plunge. If you don't have a strategy that shows beyond doubt you can be consistently profitable (even after accounting for all possible nuances like slippage, trans costs etc - those you can estimate quite well without trading) - it's dumb to try.

So, to answer your question, in my case - none.

vladiator · Jan 23, 2003

Quote from goldenarm:

Approximate calculation is as follows:

60 trades per day x 240 trading days x 2 years

equals 28,800 trades

28,800 x 100shares x 0.012 commission = $34,560 in commissions alone...

ALICE · Jan 23, 2003

Quote from vladiator:

Hmmm. It doesn't have to be related to the number of trades at all. I happen to be one of those who believe you have to have everything researched, worked out and rechecked before you take the plunge. If you don't have a strategy that shows beyond doubt you can be consistently profitable (even after accounting for all possible nuances like slippage, trans costs etc - those you can estimate quite well without trading) - it's dumb to try.

So, to answer your question, in my case - none.

vladiator i am happy for you. undoubtedly you are very bright, well educated and well prepared. but for the rest of us mere mortals, well, we do the best with what we have. is that enough, maybe not.

btw, what was your p&l in 2002?

scrappy · Jan 23, 2003

Hi\Alan, you seem to be in a very similar situation to what i was about a month ago. But the answer to your question is "how long is a piece of string", simply because when you have done an incorrect trade are you asking the right question. After every trade you must know what you are looking for. If i can be of any more help just post a note for email.

Ray

gnome · Jan 23, 2003

Quote from alanack:

Successful traders only, please... Approximately how many trades would you say you made before you became consistently profitable? How many before you knew for sure you could survive long term?

Alan

After 20 years in the trenches, my $.02...
1. You will never know for sure, as the possibility of blowing up cannot be eliminated.
2. Best that can be done is to make the play when it seems obvious to you AND not risk more than 1%ish of your total investing capital on any one trade... in case it turns out you were obviously wrong.

Sorry, but that's the truth.

Magna · Jan 23, 2003

Quote from alanack:

Successful traders only, please... Approximately how many trades would you say you made before you became consistently profitable? How many before you knew for sure you could survive long term?

I know you'll take this wrong, and I sincerely don't mean it as a personal attack of any kind, but your question is silly and doesn't have any relation to successful trading.

Lobster · Jan 23, 2003

Quote from vladiator:

So, to answer your question, in my case - none.

But he said "successful traders only", therefore your case is irrelevant.

Unless you define success as not having lost any money yet.

Free Thinker · Jan 23, 2003

Quote from vladiator:

Hmmm. It doesn't have to be related to the number of trades at all. I happen to be one of those who believe you have to have everything researched, worked out and rechecked before you take the plunge. If you don't have a strategy that shows beyond doubt you can be consistently profitable (even after accounting for all possible nuances like slippage, trans costs etc - those you can estimate quite well without trading) - it's dumb to try.

So, to answer your question, in my case - none.

yea right.

successful traders...????

Administrator