Around 4 million in buying power if daytrading
Trying to transition from full time job to trading. Having trouble with discipline.
- Thread starter jinxu
- Start date
Around 4 million in buying power if daytrading
Not sure what you're looking for here. Random strangers on the internet who may or may not be telling the truth about their trading aren't going to help you (if they can) and won't encourage you if you're doing well.
I'll humor you. If you have a system that makes small consistent profits, you should stick to that. If you "let your profits run" and go for the lottery days, which happens about half the time, you will lose it all on the other days.
Full time trading is very boring and you'll likely be tempted to try daring strategies. Don't. Stick to what works for you because it won't necessarily work for another trader.
I'll humor you. If you have a system that makes small consistent profits, you should stick to that. If you "let your profits run" and go for the lottery days, which happens about half the time, you will lose it all on the other days.
Full time trading is very boring and you'll likely be tempted to try daring strategies. Don't. Stick to what works for you because it won't necessarily work for another trader.
-Thanks. I've actually made more then 20% in the past before and technically I haven't traded the full entire month so it's really more then that. Currently I'm using the minimum margin as I'm still just practicing. I could certainly add more leverage and make more. However I won't do while I'm working. It's very difficult to trade proficiently and have a full time job. I haven't really made any trades that I would have consider good even though they were still profitable. So, I still have plenty of room for improvement.
-I'm not eyeing the 1 million return yet. Have no desire to. Have nothing to prove. My plan to go full time is determined if my trading profit equal to or more then my job salary and takes less then 40hr. So far both criteria is a possibility.
-My future plans for the trading sytem is definitely both to increase lot sizes and add more instruments. So far I'm eyeing these markets: Crude Oil, Natural Gas, Euro, DAX, and Nikkei. For more trading opportunities.
-Leveraging up on the tortoise system makes sense. My plan was to use less leverage on the hare system. But it doesn't really make sense to do if I can make the same amount with the tortoise using more leverage.
-P.S. I didn't really think of calling my system the hare and tortoise but now that I'm thinking about it, it's a catchy name. Like the old turtle system.
I think this is one of those "full of shit" threads. Too many yahoos starting senseless threads on ET looking to get their poles stroked.
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20% per month, for 12 consecutive months, is a little less than 1,000% a year if it's compounded...
Hope there is still room for improvement
GAT, your book's chapter on system speed really transformed how I look and think about my own trading, and to be honest, I'm still trying to digest that chapter. I'm a discretionary trader and my intuition tells me that my risk adjusted performance on a slower system (swing trading) will most likely be similar to my risk adjusted performance on a faster system (day trading). So mathematically, you want the slowest system you can possibly have without negatively impacting risk adjusted returns as trading costs will just eat into risk adjusted returns. Am I thinking about this correctly?
Exactly. Performance is just pre-cost returns - costs, or if you like P - C. If you find a bunch of systems with the same level of P then you should pick the cheapest, lowest level of C to maximise your returns. This will be the slowest system.
GAT
PS I'm very glad that you've found my writing helpful.
Are you asking for a blotto? I don't understand why you don't believe me but since you asked for one I attached a blotto.
Blotto is from today. I took the off work today and I'm done for the day. Could still take some time to make more but needing to relax. Vacation mode on.
