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Intraday traders, how many trades do you make per day?


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Intraday traders, how many trades do you make per day?

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  #1 (permalink)
London Trader
London, UK
 
 
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Talk about how many trades you make per day, and why..

Probably my earliest approach was to trade the high/low in trend channels, and this amounted to an inordinate number of small trades. Abandoning that, I moved to building positions (pyramiding) each time a new signal reinforces my belief, or scaling out of positions when signals do not reinforce my belief.

My trade count dropped from 100 per day, to about 5 on a good day. In days that do not offer a change in fundamentals, I can spend a lot of time not taking a position.

Do you suspect I am paying a high opportunity cost, or just keeping my money?

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  #3 (permalink)
 Tymbeline 
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If I trade a "full day" (which is about 8.30am - 8.30pm with breaks, UK time, for me) I do an average of about 4 trades per day. I only ever try to do a full day on Tuesdays, Wednesdays and Thursdays.

I stop for the day (at least - maybe for the week if it's Wednesday afternoon/evening or later) if I have three consecutive losses or am at any point "three trades down".

My trades can last anything between 5 minutes and about 5 hours, but the latter's incredibly rare, for me, and my average trade lasts just under half an hour. (If a trade goes on for longer than that, it's typically because my "third lot" is well in profit and still running, so my winning trade duration tends, therefore, to be much longer than my losing trade duration.)

I trade spot forex only, mostly GBP/USD and EUR/USD but some other major currency-pairs, too.

I estimate that, overall, I'm actually in a trade about 15%-20% of the time that I'm "trading". I'm very rarely in two trades at the same time (and never when they're closely correlated markets, and since all the major currency pairs are to some extent correlated, that's quite a significant issue to me).

I trade five different set-ups(!) each of which, independently, I'm satisfied has a genuine edge, but four of the five are based on slightly different types of breakouts of support and resistance and are broadly similar. After years of experiment and research, on and off, I've selected the five set-ups I routinely trade mostly because (a) I can conveniently trade all of them from the same charts, with only a couple of indicators which I find I look at less and less anyway, and (b) I can trade all of them with the same money-management (including position-sizing), with the same stop-losses and mostly with very similar take-profit procedures, too. So it's perhaps not quite as complicated as I've made it sound.


London Trader View Post
My trade count dropped from 100 per day, to about 5 on a good day. In days that do not offer a change in fundamentals, I can spend a lot of time not taking a position.

Do you suspect I am paying a high opportunity cost, or just keeping my money?

Very difficult to say, without knowing more, but if I had to guess I'd say "keeping your money".

This has the potential to become a very interesting thread, I think, and I look forward to seeing others' replies.

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  #4 (permalink)
 PeakGrowth 
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I would say you are keeping your money. If you get 100 setups a day, you either have too many setups or you are just randomly trading - I would hazard a guess it was the latter.

Plus simple math already tells you, you are keeping your money.

If you pay 1 pip per RT for 100 trades a day, you need to bring home more than 100 pips a day to break even.

Good luck with that.

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  #5 (permalink)
 Anagami 
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London Trader View Post
Talk about how many trades you make per day, and why..

Probably my earliest approach was to trade the high/low in trend channels, and this amounted to an inordinate number of small trades. Abandoning that, I moved to building positions (pyramiding) each time a new signal reinforces my belief, or scaling out of positions when signals do not reinforce my belief.

My trade count dropped from 100 per day, to about 5 on a good day. In days that do not offer a change in fundamentals, I can spend a lot of time not taking a position.

Do you suspect I am paying a high opportunity cost, or just keeping my money?

I make at most, 1 trade a day, when my setup conditions are met. Jumping in and out and trading many times a day has proved detrimental to my account health in the past.

"The mind is its own place, and in itself can make a heaven of hell, a hell of heaven." - Milton
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  #6 (permalink)
 Anagami 
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London Trader View Post
My trade count dropped from 100 per day, to about 5 on a good day. In days that do not offer a change in fundamentals, I can spend a lot of time not taking a position.

Do you suspect I am paying a high opportunity cost, or just keeping my money?

I would say with 5 a day, you are still over-trading. The transaction cost will eat you alive... unless you have a monster edge (which no retail trader does).

"The mind is its own place, and in itself can make a heaven of hell, a hell of heaven." - Milton
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 Neo1 
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London Trader View Post
Talk about how many trades you make per day, and why..

Probably my earliest approach was to trade the high/low in trend channels, and this amounted to an inordinate number of small trades. Abandoning that, I moved to building positions (pyramiding) each time a new signal reinforces my belief, or scaling out of positions when signals do not reinforce my belief.

My trade count dropped from 100 per day, to about 5 on a good day. In days that do not offer a change in fundamentals, I can spend a lot of time not taking a position.

Do you suspect I am paying a high opportunity cost, or just keeping my money?

How can anyone answer that? Look at your PnL, there's your answer.

Everyone will have their own delusional ideas about how you should trade and how many trades per day you should take- Based on what's worked for them( Or what they think works for them).

Odds are if you're doing what the majority of others are doing then you're probably doing it wrong.

"Free markets work because they allow people to be lucky, thanks to aggressive trial and error, not by giving rewards or incentives for skill. The strategy is, then, to tinker as much as possible and try to collect as many Black Swan opportunities as you can"
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  #8 (permalink)
London Trader
London, UK
 
 
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Neo1 View Post
How can anyone answer that? Look at your PnL, there's your answer.

This is psychology question focussing on sentiment rather than accounting.

Theoretically, given a million monkeys on keyboards, at least one of them will discover DAX to be very profitable..

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  #9 (permalink)
 UmBillyCord 
San Diego, California
 
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Let me preface this by saying I only trade CL, TF and NQ.

It really depends on the day and how many instruments you are trading. In conditions like the last two months probably no more than 1-3 trades per instrument per day.


Anagami View Post
unless you have a monster edge (which no retail trader does).

I love how this is thrown out there by some people. I know several "retail traders" that take $700-$2,000 per day on one contract. I would say that is a pretty good edge.

Just because the majority of the traders here don't do it, doesn't mean that it isn't being done consistently by many "retail" traders.

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  #10 (permalink)
 UmBillyCord 
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Neo1 View Post
Odds are if you're doing what the majority of others are doing then you're probably doing it wrong.

+1 this statement

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  #11 (permalink)
 UmBillyCord 
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London Trader View Post
Theoretically, given a million monkeys on keyboards, at least one of them will discover DAX to be very profitable..

Love the British humor!

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 Anagami 
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UmBillyCord View Post
Let me preface this by saying I only trade CL, TF and NQ.

It really depends on the day and how many instruments you are trading. In conditions like the last two months probably no more than 1-3 trades per instrument per day.



I love how this is thrown out there by some people. I know several "retail traders" that take $700-$2,000 per day on one contract. I would say that is a pretty good edge.

Just because the majority of the traders here don't do it, doesn't mean that it isn't being done consistently by many "retail" traders.

LOL I highly doubt that is the case long term, and wishful thinking won't make it so. Very sweet of you to believe so.

PS I also notice you don't mention days when they LOSE $700 to $2000. Typical selective perception.

"The mind is its own place, and in itself can make a heaven of hell, a hell of heaven." - Milton
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  #13 (permalink)
 UmBillyCord 
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Anagami View Post
LOL I highly doubt that is the case long term, and wishful thinking won't make it so. Very sweet of you to believe so.

PS I also notice you don't mention days when they LOSE $700 to $2000. Typical selective perception.

You can LOL all you want and believe what you want...just because YOU CAN'T DO IT doesn't mean it can't be done.

The difference in your attitude and theirs is the reason why they make that money most days, not everyday, but 75% of the time.

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  #14 (permalink)
actor13
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I tried to make about 3, every day, but it is horrible when you have 120 Ä on your account. It goes very slowly

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  #15 (permalink)
sledmt
Kalispell montana
 
 
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London Trader View Post
Talk about how many trades you make per day, and why..

Probably my earliest approach was to trade the high/low in trend channels, and this amounted to an inordinate number of small trades. Abandoning that, I moved to building positions (pyramiding) each time a new signal reinforces my belief, or scaling out of positions when signals do not reinforce my belief.

My trade count dropped from 100 per day, to about 5 on a good day. In days that do not offer a change in fundamentals, I can spend a lot of time not taking a position.

Do you suspect I am paying a high opportunity cost, or just keeping my money?

Curious, how do you even keep track of a 100 trades a day?

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  #16 (permalink)
winner40
Fort Smith, AR USA
 
 
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New to paper money account trading Forex, but my guess is keeping your money. I know just trying to recover the spread to BE would keep me challenged at this point in newbie status. Thanks for the "situation presentation" with your question. Good trading to you.

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  #17 (permalink)
London Trader
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sledmt View Post
Curious, how do you even keep track of a 100 trades a day?

They were small trades lasting less than 5 minutes. I thought naked DAX liked me..

I'm currently into one Calendar/Crack/Crush spread per day

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  #18 (permalink)
London Trader
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Anagami View Post
... days when they LOSE $700 to $2000.

Maybe I should have asked how many lots do you trade per day?

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sledmt
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London Trader View Post
They were small trades lasting less than 5 minutes. I thought naked DAX liked me..

I'm currently into one Calendar/Crack/Crush spread per day

100 trades a day provide the broker with a lot of commission.

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 Tymbeline 
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London Trader View Post
Theoretically, given a million monkeys on keyboards, at least one of them will discover DAX to be very profitable..

Theoretically, yes. But in practice, they're probably all still too busy trying to write "Hamlet" (a waste of time, in one sense, since Shakespeare has already written it, but what can you do?).

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London Trader
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Tymbeline View Post
Theoretically, yes. But in practice, they're probably all still too busy trying to write "Hamlet" (a waste of time, in one sense, since Shakespeare has already written it, but what can you do?).

I wager that a monkey will accidentally write a top-selling book on how to trade, before any monkey accidentally reproduces Hamlet

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  #22 (permalink)
silly
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that depends much on the system you use. I have a friend that trades 20 to 30 times a day. scalping a point at a time. He believes that no one knows where markets will turn. He also likes it that he can come and go random since all his trades last just minutes....he is more of a ticket tape reader.

My system was designed to take one to two good trades a day. My philosophy is that markets are predictable, and that fits my logical personality.

So each his/her own style and there are many different styles out there.

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 TickedOff 
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20-40 per day usually. I have an issue with forcing trades though. If market is slow and rangebound, sometimes its better to take no trades than a few trades. Instead of focusing on trades per day just focus on taking valid trade setups. Many of us have a deep held belief we need to be doing something, we gotta "make it happen" etc, which produces a sense of urgency which is horrible in trading... it reveals itself most during slow markets. Or thinking that we have some sort of control over outcome... trying to reach "x" amount of profit. If the market is slow and choppy, you will not make a killing. Fact. You got no control over market volatility or trend for the day. Fact. No matter how skilled you are, you have no control over any one trade. Fact. Performance is not the same as outcome. Sometimes performance means, not trading. It means preserving mental capital when markets are quiet, trading less (or not at all) and with small targets. And sometimes it means getting into more trades if the setups are there. You control your risk, when you are in a position and when you are not, and when you get out of that position. You control the mind you bring into trading. Never your profits or trade outcome. Giving up this illusory control, the "perfectionist" part of me, is what allows me to perform optimally. A bit off topic, but the point Im trying to make is you should only trade when you have edge, and the frequency depends on your trading criteria, what time-frame you trade off and how many setups the market actually gives you. There shouldnt be some sort of quota you have to meet, thats putting pressure on yourself and missing the point. I like to think of overtrading like a hamster running on a wheel. You try to force results by "pushing" forward but you end up either flat or more likely blowing up.

Understanding yourself is just as important as understanding markets.
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nikhil89
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3-4 trades a day in crude oil

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FinTrader1
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ES 2-3 tops anything more the fees will eat you up. Anything more and your just putting your brokers kids through college.

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razle
Westland
 
 
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Typically 1-2 trades on 2-3 different instruments a day. However, I donít really manage my trades. (I set a predetermined SL and TP before entering).

While doing this I was able to achieve a profit factor of 2.165 but I doubt the PF will stand the test of time. Itís a new strategy and Iíve been extremely lucky as my backtested PF is a 1.38

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