FAQ How Long Does it Take to Make a Stable Income from Trading?

  • New to T2W? Welcome! This forum contains a list of the most frequently asked questions (FAQs) that new members want answers to. We don't allow new threads to be created so if you have an idea for a new FAQ please post it in the How the FAQs work thread.

petetrades

Well-known member
351 37
I am talking about a test/undershoot/overshot of the recent extreme after a healthy break of a major trend line... in my experience they work at least 60% of times.....most of the time the reward is at least the risk, sometime they pay very well...
Not on index futures or commodity futures, higher timeframes charts reveal this setup's viability is illusory, more like 55-45 one way or the other, flip a coin which way, no edge here once commissions and trade management are factored in.
 

Fugazsy

Veteren member
3,661 677
Not on index futures or commodity futures, higher timeframes charts reveal this setup's viability is illusory, more like 55-45 one way or the other, flip a coin which way, no edge here once commissions and trade management are factored in.
I only trade forex, I have not any idea how to trade what you mentioned.

Here we are talking about possible major reversals, in forex technicality will not be enough for a possible reversal at the new extreme, one needs to take in consideration relative strength, if one is trying to reverse a strong currency versus a weak one he/she has little chances to turn the trade in a positive way but if she is trying to reverse a pair when they matches in either weakness or strength the chances are much more greater, it can be more than 60% which is of course dependable on the trader personal skills.

I guess it will be the same with major stocks, if Apple is showing a major bearish reversal you expect the sp500 in showing weakness or at least prices are at a major resistance.
 

tar

Legendary member
10,441 1,309
Not on index futures or commodity futures, higher timeframes charts reveal this setup's viability is illusory, more like 55-45 one way or the other, flip a coin which way, no edge here once commissions and trade management are factored in.
Its funny you mention indices hence they just go up with time ...
 

tar

Legendary member
10,441 1,309
That's not relevant for daytrading.
You dont have to daytrade , another idea here is to just daytrade the buy signals ....
 

darktone

Veteren member
3,916 1,000
some questions:-

1) How many years have you been trading?
2) In ES, what kinda size do you trade relative to acc? (notional / acc)
3) Have you ever ever learned to 'manage risk with size' as Don puts it?
4) What does the sum of money lost mean to you?
5) Do you look for confirmation before you trade?

and the old fav :p

6) Do you like to use stops to manage risk?
 

petetrades

Well-known member
351 37
some questions:-

1) How many years have you been trading?
2) In ES, what kinda size do you trade relative to acc? (notional / acc)
3) Have you ever ever learned to 'manage risk with size' as Don puts it?
4) What does the sum of money lost mean to you?
5) Do you look for confirmation before you trade?

and the old fav :p

6) Do you like to use stops to manage risk?
1. 5+ years
2. Maximum margin w/deep discount futures bucketshots to the default high margins w/more conservative brokerages.
3. No
4. Everything at the moment, hoping to get back on my feet with a profitable year once I find some money.
5. Sometimes, this can make me too late and guarantee a loss.
6. I don't like to, but ES has less stop runs than CL, so I do use stops on the ES at times but am quite aware this is a magnet for HFT.
 
  • Like
Reactions: darktone

darktone

Veteren member
3,916 1,000
1. 5+ years
2. Maximum margin w/deep discount futures bucketshots to the default high margins w/more conservative brokerages.
3. No
4. Everything at the moment, hoping to get back on my feet with a profitable year once I find some money.
5. Sometimes, this can make me too late and guarantee a loss.
6. I don't like to, but ES has less stop runs than CL, so I do use stops on the ES at times but am quite aware this is a magnet for HFT.
Thanks for those answers pete
 

petetrades

Well-known member
351 37
Thanks for those answers pete
I'm sure there are more losers around here like me than most would expect. Ancedotes about traders who made it back from such bad situations by trading would be inspiring.

All the success stories I've read and believed tend to be from vendors and wealthy people making small bits of income from active trading with the hidden ace up their sleeves usually being their trading vendor products, CDs, bonds, rental properties, etc, not some epiphany from mastering technical analysis and day trading. I would like to be wrong on this.
 

BeedyBrandy

Junior member
10 1
3 years is quite a while. I've been going for a year. I hope it doesn't take another two years before I can make a success of it
 

fouclycm

Junior member
10 0
3 years is quite a while. I've been going for a year. I hope it doesn't take another two years before I can make a success of it

I think what he means is to have a solid career in -forex on enough experience okay. If you already have a year you are on track, only accumulate as much experience as you can and be smart in your investments.
 

alextrader79

Well-known member
308 2
I think what he means is to have a solid career in -forex on enough experience okay. If you already have a year you are on track, only accumulate as much experience as you can and be smart in your investments.
That's it. You don't have to trade on demo for years before going live. I made my first strategy in a few months, tested it and tried with a little deposit. After I corrected what went wrong and checked if it was proper, I enlarged my depo. Every month I analyzed what I did and improved my trading system. Now I can say that in three years it became really profitable for me. Knowledge and experience I got during those three years was essential and if I look back on that trader who I was and compare him to the trader I am now... I changed a lot professionally.
The secret is not to give up, analyze, improve.
 
  • Like
Reactions: dbphoenix

petetrades

Well-known member
351 37
In general, it took me nearly 3 years to make some sort of 'career' on Forex.
Can you clarify what your yearly income is from Forex trading? How stable are your returns over months - years. How much % of trading capital is made per year and how much % do you pay in commissions and fees. Thank you