When can I expect profits????

[dojibear]

Originally posted by NDQnCA
you've got to learn to play the short side of trading- you can't survive only going long (especially in this crappy market)- you have to be dynamic and adapt to changing conditions.

One has to understand that it is quite hard to short stock due to the uptick rule. The short positions always start with a loss before you could see some profit... if you're right. If Amkeer is a momentum trader, trading on resistance/support broken, he'll never be able to short.
Amkeer, depending on your trading system/signal, maybe you could try QQQ where the uptick rule does not apply.

by the way, don't go shorting blindly tomorrow, or in the next few days... we may have some dead cat bounces. Just be careful when you try a new strategy.

Cheers!!

 

[xianokie]

When you start making them.

 

[Amkeer]

Originally posted by dojibear



by the way, don't go shorting blindly tomorrow, or in the next few days... we may have some dead cat bounces. Just be careful when you try a new strategy.

Cheers!!

Wouldn't short until after the rally.

Thanks again!!!!!!

 

[Amkeer]

Originally posted by NDQnCA
you've got to learn to play the short side of trading- you can't survive only going long (especially in this crappy market)- you have to be dynamic and adapt to changing conditions. for instance, i used to scalp nasdaq until that really became garbage- now i trade listed and wonder why i ever did nasdaq at all- i am absolutely KILLING it trading listed and it is SOOO much better- i am able to move around much bigger size with more conviction- and make more money, most importantly

so, to answer your question, you will not succeed until you find a winning system, can trade it profitably and have a STRICT sense of discipline in your trading. good luck to you, i know how tough it is starting out in this business (i only started 2 years ago)

Whats listed?

I agree, I screwed up by trying to be one dimensional!

Anyone else have advice or suggestions? The help is appreciated!

Thanks in advance!

 

[inandlong]

The general consensus seems to be that you are right on the cusp of time-in-service for a do-it-yourselfer trader. The time it takes to become consistently profitable seems to be around 2 years. There are many exceptions, and proprietary firms will tell you differently, but for the guy on his own, two years is the average.

You gotta take the shorts, and no you haven't missed the move. But the beauty of this biz is you can make $$ when prices go up or down. So don't limit yourself.

You're right there man, stay with it and good luck!

 

[Gordon Gekko]

when to expect profits is completely dependent on you. how can anyone tell you when it's going to happen? you'll make money when you make money....if you ever do. it's different for everyone. i've been at this for 3 years and i still don't make money. i know, it's pretty pathetic. lost about 100 bucks today, as a matter of fact. i'd be better off not trading.....

 

[inandlong]

Yeah but Gordon, if ever there were an over-thinker it's you. You have as much or more knowledge as anyone on this board, well except me and aphie.

If you would discard 98% of what you know, and use the remiaining 2% you would kick butt. And I say this with respect and not criticism or sarcasm.

 

[Dr. Zhivodka]

Originally posted by Amkeer
I am new to trading. I have been trading for almost 2 years mostly scalp or swing trades. ...

...how long, how many trades, etc..

Your gonna hate to hear this but some people never become profitable.

You state that you've been at this for two years, yes? At some point time-in-grade with no positive reinforcement (read profits)begins to have a negative effect.

Hard work is not always the right approach in this business.

Personally, I've never seen someone become profitable after two years of negative results. Others may have. This doesn't mean you can't be profitable, it's just that I've never seen it happen after many months of poor results.


Sorry mate.

 

[Amkeer]

Originally posted by inandlong
The general consensus seems to be that you are right on the cusp of time-in-service for a do-it-yourselfer trader. The time it takes to become consistently profitable seems to be around 2 years. There are many exceptions, and proprietary firms will tell you differently, but for the guy on his own, two years is the average.

You gotta take the shorts, and no you haven't missed the move. But the beauty of this biz is you can make $$ when prices go up or down. So don't limit yourself.

You're right there man, stay with it and good luck!

Thanks inandlong! Very encouraging paragraph! I may start to see light at the end of the tunnel afterall! Its been one heck of a learning experience and the learning will continue just need some profits to propel me to the next phase.

I will start shorting thats a promise!

Thanks again!

 

[Gordon Gekko]

Originally posted by inandlong
Yeah but Gordon, if ever there were an over-thinker it's you. You have as much or more knowledge as anyone on this board, well except me and aphie.

If you would discard 98% of what you know, and use the remiaining 2% you would kick butt. And I say this with respect and not criticism or sarcasm.

thanks inandlong,

that's what is so frustrating to me though. i'm pretty sure i know a lot about the markets, but i still can't use what i know to make money. it's terrible.... i would say it's in me to be a good trader some day...but the time does not seem to be now.