After 4 months my first profitable month started the day after I made these 3 changes - futures io
futures io



After 4 months my first profitable month started the day after I made these 3 changes


Discussion in Psychology and Money Management

Updated
      Top Posters
    1. looks_one kevinkdog with 6 posts (17 thanks)
    2. looks_two michaelroth with 3 posts (3 thanks)
    3. looks_3 MNSTrading with 2 posts (3 thanks)
    4. looks_4 Cutloss with 2 posts (5 thanks)
      Best Posters
    1. looks_one bajaho with 43 thanks per post
    2. looks_two rahulgopi with 4 thanks per post
    3. looks_3 kevinkdog with 2.8 thanks per post
    4. looks_4 Cutloss with 2.5 thanks per post
    1. trending_up 4,466 views
    2. thumb_up 87 thanks given
    3. group 32 followers
    1. forum 23 posts
    2. attach_file 0 attachments




Welcome to futures io: the largest futures trading community on the planet, with well over 125,000 members
  • Genuine reviews from real traders, not fake reviews from stealth vendors
  • Quality education from leading professional traders
  • We are a friendly, helpful, and positive community
  • We do not tolerate rude behavior, trolling, or vendors advertising in posts
  • We are here to help, just let us know what you need
You'll need to register in order to view the content of the threads and start contributing to our community.  It's free and simple.

-- Big Mike, Site Administrator

(If you already have an account, login at the top of the page)

 
Search this Thread
 

After 4 months my first profitable month started the day after I made these 3 changes

(login for full post details)
  #21 (permalink)
 kevinkdog   is a Vendor
 
 
Posts: 3,126 since Jul 2012
Thanks: 1,665 given, 6,206 received


Cutloss View Post

I personally believe that anyone who thinks good n bad luck play a part in trading edge or profits should actually maybe rethink trying to be a trader.


I got lucky in amc though..


I did not explain myself well enough, I can see. I apologize for that.

What I meant in regards to luck:

When I develop a trading strategy, I get a historical equity curve. This equity curve could be all edge (great!) or the trading rules could somehow have taken advantage of random noise - in other words, the strategy could have gotten lucky with that data (pretty terrible).

In all likelihood, a historical backtest has some of both - performance due to edge, and performance to luck (via how well the strategy reacts to market noise).

The trick is to make sure you do not count on the luck continuing.

So I agree 100% with you that "anyone who thinks good n bad luck play a part in trading edge or profits" is a bad thing. No trader should depend on luck.

The tough part, as I see it, is that it is not always easy to know for sure what part is edge and what part is luck.

Follow me on Twitter Reply With Quote
The following 2 users say Thank You to kevinkdog for this post:

Can you help answer these questions
from other members on futures io?
Does anyone have the code for Anchored Vwap to use in Qu …
Traders Hideout
Google Keyword Search Alerts
Traders Hideout
What are the main Eurobond futures and their respective …
Traders Hideout
 
Best Threads (Most Thanked)
in the last 7 days on futures io
Vinny E-Mini & Algobox Review TRADE ROOM
45 thanks
Design a DayTrader Scalping Order Flow Indicator
22 thanks
Daytrading.Coach Review
15 thanks
The Wheel Strategy on Options
9 thanks
AMA: FuturesTrader71 (FT71) / Morad Askar - Ask Me Anything
9 thanks
 
(login for full post details)
  #22 (permalink)
 Linds 
Victoria, Australia
 
Experience: Intermediate
Platform: NT, MT4
Broker: NT
Trading: Bund , ASX 200
 
Linds's Avatar
 
Posts: 416 since Jul 2010
Thanks: 959 given, 530 received

Isn't it the case that 'luck' can have a huge effect over a small number of trades (say 10, 20 or 50) - good or otherwise - but that over a larger sample ( a few thousand) the good and bad will more or less cancel each other out. Or, the impact will be relatively small - small enough to be considered just part of trading that particular strategy.

Visit my futures io Trade Journal Reply With Quote
The following user says Thank You to Linds for this post:
 
(login for full post details)
  #23 (permalink)
 Cutloss 
Midway florida
 
 
Posts: 244 since May 2021


Dogs sniffing is not random at all! Obviously they are looking for something and moving to better sniffs..usually they end up finding another dogs pile of poo.

Laying in bed thinking about luck vs skill. The more skillful you are the less luck involved and I would say that this inverse relationship just might be they key to understanding a solid edge. If you are in a trade n feel like you got lucky then you obviously have zero skill n zero control of the outcome

I have control over every single 1 lot I place. I can control the amount of gain and I can control the amount of loss to a point. If I forget what time it is and feds talling at 11.30 and I get long at 11.29 and mkt tanks well that was not me being unlucky that we me being asleep at the wheel! If I'm driving and die in a car crash cuz u fell asleep is that unlucky? No it's me not pulling over seeing the warning signs.

It all boils down to your own skill set with trading. Is it hard to make money consistently in the short intraday time frames...absolutely!

Over the past 10 years has it been hard to make money with nuy and hold? No!!

Reply With Quote
 
(login for full post details)
  #24 (permalink)
TickTricksta
London, England
 
 
Posts: 11 since Nov 2021
Thanks: 7 given, 4 received

I agree on the part about finding strategies that work for your personality.
Never try to trade like someone else. Do your own thing.
I became profitable when I focused on just a few types of entries and just kept on taking the same entries over and over.
Do I miss trades? Yes. Do I get several losses in a row? Yes, but I also get several wins in a row that surpasses the losses.

Reply With Quote


futures io Trading Community Psychology and Money Management > After 4 months my first profitable month started the day after I made these 3 changes


Last Updated on November 26, 2021


Upcoming Webinars and Events
 

NinjaTrader Indicator Challenge!

Ongoing
     



Copyright © 2021 by futures io, s.a., Av Ricardo J. Alfaro, Century Tower, Panama, Ph: +507 833-9432 (Panama and Intl), +1 888-312-3001 (USA and Canada), info@futures.io
All information is for educational use only and is not investment advice.
There is a substantial risk of loss in trading commodity futures, stocks, options and foreign exchange products. Past performance is not indicative of future results.
no new posts