How many traders win consistently

comino

Junior member
29 0
Question i would like to ask is, out of the 12,000 traders on this website.
1.How many, roughly make profit consistently
2.How long does it take to achieve this consistency?
3.What criteria do they use to accomplish this?
4.Do they trade just one market ?
5.Do they trade one methodology ?
6.How do they keep this special mindset?
7.Are they very self-disciplined individuals?
8.Have they learnt this self-discipline?
9.What kind of measures do they take to maintain this self-discipline?
10.Do any traders meditation for ading their trading?
I would be very interested in knowing what would be there main reason for reaching this consistency,is it just a winning attitude or the drive to make money.
My apology for so many questions.
Thank you
 

TheBramble

Legendary member
8,395 1,170
1. I have started making consistent profits in the last 9 months. (Consistent profits = make more money than I lose of a weekly basis).

2. I have been trading (off and on) for 8 years.

3. Simple systems / risk:reward awareness / money management.

4. At the moment just NASDAQ stocks and a few indices.

5. 3 Basic trading strategies (and constant research)

6. Got fed up with losing.

7. Not in all areas of my life. But in trading - absolutely.

8. ?The hard way!

9. If I find myself thinking about 'taking a punt' rather than trading my system, I close any open positions, turn off the machines and walk away from the markets for the day. Doesn't happen too often these days.

10. I meditate, but have done so for years - not just for trading.

To answer your overall query - consistent (if 9 months can be called consistent) profitable trading was reached after over 7years of consistent failure and an unwillingness to do so any longer.

Keep it simple. Stick to the rules (trading system, risk:reward, money management).

If you find yourself doing something outside your system - slap yourself round the face.
 

Skimbleshanks

1
2,325 16
comino:

I'd like to suggest that you will get a better response by asking one question at a time - 10 is just too many, and it is difficult to post a reply and look at your questions at the same time (this needs two windows open).
 

comino

Junior member
29 0
reply

Yes i can see that would make things easier,
i'll keep that in mind .
Thanks
My answers are similar to your's The Bramble
1.I have periods of consistency couple of months maybe but fail to keep it going, then i start a loosing period so i'm not consistent at this moment.
2.Trading on and off for 5 years, fitting it in between working offshore,i seem to loose some discipline with going away all the time,my thinking is to stop working for one year and try to maintain the consistency for longer periods,getting into a routine
and staying in the flow of the market.
3.It took a long time for me to accept that money management is the main criteria to consistency, even if i trade my method over and over it wont give me consistent profit ,my MM has not been disciplined up to now ,it seems that i distort my criteria for entry and exit if i don't adhere to this discipline of MM.
This is why i've started the journal so as to aid my discipline in money management
4.I just trade the Dow,i have tried other markets but i don't seem to see the same flow in these markets.
5.I've developed a couple of simple Methods for the Dow 2 or 3 indicators,that's all i need,i overcomplicated things many times,but these simple methods seem to work ok.
When i joined this website and looked at all these different charts,i was startled to how much info was on them and then i thought ,wow i have a lot of studying to do ,but it seems the simpler i keep my charts the easier it is to see the flow.I look at the market as a snake and all i need is to find the place to jump on and jump off the right time.Having to fight through all that information to get inboards doesn't make it easier.
6.Sometimes i can keep a good mindset,mainly with having a good routine in daily life.
7.When i started trading i wasn't self disciplined at all,i now see that to survive in the markets i have to increase this more and more especially with my MM.
8.I'm learning the hard way, by still losing money but not as much as i used to.
9.I have a lot of work to do on this one so that i can walk away,like you can,it will give me a good gauge to test my self discipline ,that's great.
10.I started meditating a couple of years ago and this does help me a great deal in my trading,it does however seem to change my perspective of why i'm trading.Ive asked this question of why i trade many times and as time goes by,it seems to change,at first it was just to make money.Not sure about that now.But it's taught me a lot about my self and i have learn't a lot about Psychology,my English writing is still c***p though.
I struggled with a winning attitude for a long time and had big problems with self-sabotage,i won't go in to that now,but i have turned myself inside to find out about myself,it's been very interesting and painful at times,if someone would have told me to go for therapy before trading i would have laughed, but now i can see,it would definitely have been worthwhile and saved me a lot of money ,but being stubborn i had to find out for myself.
Thank you for your feedback.
Working with your answers will hopefully help me in becoming a consistent trader like yourself.
 
Last edited:

Mr. Charts

Legendary member
7,367 1,185
1.How many, roughly make profit consistently
I do, virtually every day
2.How long does it take to achieve this consistency?
Depends on how you learn and adapt - several months for me.
3.What criteria do they use to accomplish this?
Tried and tested methods
4.Do they trade just one market ?
US shares intraday only
5.Do they trade one methodology ?
No, a range depending on the market.
6.How do they keep this special mindset?
Discipline
7.Are they very self-disciplined individuals?
Yes
8.Have they learnt this self-discipline?
Psychology books have been writen on this.
Determination and application and learning from experience.
9.What kind of measures do they take to maintain this self-discipline?
Practice
10.Do any traders meditation for ading their trading?
Not since my early days

HTH
 

neil

Legendary member
5,167 747
Flying Yogi

10.Do any traders meditation for ading their trading?
Not since my early days


No head for hights then Mr. C ?

:D
 

Mr. Charts

Legendary member
7,367 1,185
I'm always floating on cloud 9, neil.
Richard
 

comino

Junior member
29 0
Keep it simple

Thanks Mr Charts,clear and simple answers,you don't seem to drag any baggage around.Nice to have a clear mind.
Still working on mine.
 

grubs50

Well-known member
408 0
Personally i think a trader's level of discipline is dependent on his capital ..........if u have a small pot of money 4 trading, there is a tendency to take on risks (and deviate from your system) inorder to increase ur capital.........this y i think the most consistent traders r more likely to be those with relatively big accounts.
 

Mr. Charts

Legendary member
7,367 1,185
FWIW I started off with capital of £3500.
Trading with a "large" amount of capital has its own problems, e.g. fills and a tendency not to respect the money enough.
Sorry to have the diametrically opposite view - only my opinion.

comino,
Thanks, hope it helps a little.
 

grubs50

Well-known member
408 0
Those problems (with large capital) would most likely occur if the trader is not experienced enough, e.g a novice starting off with a very large amount of money.
 

comino

Junior member
29 0
All will be revealed

Helps a lot,coming to this website has answered many frustrating question i've had about trading,and to be able to express ones concerns without fear of ridicule or embarrassment is a gift in itself.
This can only aid in this process to becoming a more consistent trader.I think as traders evolve they become more understanding and have more empathy to the understanding of other humans.
Whoops i let a bit of my sermon slip there.
 
 
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