Nothing works consistently

I've been trading for approximately six months now. What am having a hard time grasping is what worked yesterday doesn't work the following day.

For instance on one day I was scalping NASDAQ stock anddoing well well, and then using the same method the next day or a week later and I have devastating results. When trying to trade breakouts and momentum trades, majority of the breakout turn out to be false. Sometimes prices bounce off the EMA, sometimes they go straight through.

My point is nothing seems to work on a consistent basis. Anyone have any thoughts on this?

Lots, but i doubt you would agree with my method and follow it. lol

Nothing works 100%, the idea is to find something that works more than it doesn't and use money management when it doesn't work.

for example have a system that woeks 50% of the time, but, when you're wrong you only lose £200, but when you're right you make £400+, so for every 10 trades you'd average £1000+

There is no holy grail..............

If anything does work on a risk adjusted basis...




...this man will have a heart attack. Do you want to be responsible for that?

is that you, arabian?

Didn't he invent that painful sandal?

You're right, you can't bank on what works today working next year, or in 6 months or even next week.

But if you're finding your scalp start doesn't work from one day to the next, you've probably not got a scalp strat. I'd argue unless you're pro, you can't make money long term with a scalp strat anyway.

A lot of folk think a failed breakout is a false breakout. It isn’t, it just never was a breakout. You need to refine your view of what constitutes a real breakout – and trade that.

You also need to counterbalance your need for certainty (if indeed that’s the problem) in any chart formation’s existence before committing, with the more pressing need, and greater skill/experience requirement of identifying market conditions which lead to potential setups before they even begin forming and having a conviction on the probability of it completing if you’ve any hope of making money.

If you've only been trading 6 months my guess is your failures are due to the same failures that beset most new traders. There's a whole site devoted to discussing such issues...

Yeah, what's the site called?