Do you make money 4 out of 5 days?

mauzj · Dec 16, 2008

How many of you guys can make money 4 out of 5 days, without giving everything back on the 5th day?

everyonerich · Dec 16, 2008

i've seen there are people can do much better than me!

arabianights · Dec 16, 2008

Could do if I wanted, but prefer a slightly more risky approach at the moment... help, what should I answer!?!!?!?

advfntrader · Dec 16, 2008

yes but lose more than I make on the 5th. this is the problem I am trying to solve!

Paul71 · Dec 16, 2008

mauzj said:
How many of you guys can make money 4 out of 5 days, without giving everything back on the 5th day?

Most small retailers should be easily hitting this type of target, it's not like they have tons of contracts to move around. Trouble is, newbies get towed down the road of 'one day, one trade', which is overlaying the market with quirky personal opinion.

porph · Dec 16, 2008

yes. Although I dont trade all 5 days.

forex999 · Dec 16, 2008

mauzj said:
How many of you guys can make money 4 out of 5 days, without giving everything back on the 5th day?

yes i do
sometimes will even make money 5 outa 5!
but they are quality trades

JTrader · Dec 16, 2008

I average about 1 pip per minute of screen time
they call me johnny appleseed every where i go
because i rake in the pips from everywhere

TomTom · Dec 16, 2008

I try to trade 3-4 days a week.
Most of the time Im profitable 80% of the time over the week.
Its not what you win its how much you looses that mattors........

Mr. Charts · Dec 16, 2008

I trade US stocks intra-day four days a week and make money every day. I know that sounds unlikely and like BS to most people, but I've been trading since 1999 for a living and tend to be quite cautious, sometimes reducing position size and risk when in good profit - unless it is a strongly trending day.
I also only trade very high probability situations, sometimes 3-4 a day, sometimes 20.
Tight stop losses, using level 2 T&S, momentum etc. also help considerably.
Richard

Mr. Charts · Dec 16, 2008

Having no gambling urges and having long since conquered the emotional problems of trading, also help.
Richard

porph · Dec 16, 2008

Mr. Charts said:
I trade US stocks intra-day four days a week and make money every day. I know that sounds unlikely and like BS to most people, but I've been trading since 1999 for a living and tend to be quite cautious, sometimes reducing position size and risk when in good profit - unless it is a strongly trending day.
I also only trade very high probability situations, sometimes 3-4 a day, sometimes 20.
Tight stop losses, using level 2 T&S, momentum etc. also help considerably.
Richard

Having read some of your posts about how you trade, I wouldnt doubt that for a second.

abaty · Dec 16, 2008

Yes, but I havn't managed to totally eliminate the odd very bad losing day when I give a lot of it back. It's usually when I break my own rules, get over confident and overtrade! I need a discipline hairshirt!!

Mr. Charts · Dec 16, 2008

abaty said:
Yes, but I havn't managed to totally eliminate the odd very bad losing day when I give a lot of it back. It's usually when I break my own rules, get over confident and overtrade! I need a discipline hairshirt!!

That's usually over-confidence, occasionally boredom in a slow moving market, abandoning method just for the sake of trading, trying something new and so on.
Assuming you are day trading, try and get it anchored in your mind that you are only as good as your last trade; yesterday's success has no bearing on today's trading; it's not "you", it's your methodology. None of that is strictly or literally true, but you need to mould your own mind into a shape which is best fitted for trading.
Think of it as self-training, like a paramedic getting on with the job at an RTA or a doctor in A&E and not being put off emotionally by anything (s)he has to deal with.
Richard

neil · Dec 16, 2008

Education = Freedom

TomTom said:
I try to trade 3-4 days a week.
Most of the time Im profitable 80% of the time over the week.
Its not what you win its how much you looses that mattors........

let loose = release
You lose your shirt

loose floor boards

losses = plural of loss

lost = didn't win

lose = cease to have or be defeated

:smart::smart:

neil · Dec 16, 2008

First steps

abaty said:
Yes, but I havn't managed to totally eliminate the odd very bad losing day when I give a lot of it back. It's usually when I break my own rules, get over confident and overtrade! I need a discipline hairshirt!!

You are on the road to success because you recognise your shortcomings. Good luck

trade-killer · Dec 17, 2008

can't that impossible.

TomTom · Dec 17, 2008

neil said:
let loose = release
You lose your shirt

loose floor boards

losses = plural of loss

lost = didn't win

lose = cease to have or be defeated

:smart::smart:

Thanks for the English lesson M8 ,

Hoggums · Dec 17, 2008

A proportion of my trades close at break even after I've moved the stop. So do they count as winners or losers?

mauzj · Dec 17, 2008

Hoggums said:
A proportion of my trades close at break even after I've moved the stop. So do they count as winners or losers?

I was enquiring about pnl at end of day, rather than pnl of individual trades.

Do you make money 4 out of 5 days?

Do you make money 4 out of 5 days?

Yes

No

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