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Do consistent systems exist?
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Do consistent systems exist?

  #11 (permalink)
Trading Apprentice
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Consistent Systems !!



It just my opinion .. I am not sure it is truth or not ....i think systems are there to make the traders to stay in market .... without system there will be random entry and exits.... which will require huge patience for one to operate .... by following system one is keeping his focus on limited to specific scenarios ..which will be easy to concentrate and making him survive for longer time .... even if someone give you a system with positive expectancy... few losses in a row ( which can be as long as 10 in case of system with 50 % win) we at some point doubt the system ...and it fails ... there is also a huge role of position size in success of system ... which is mostly undervalued .... so any system works only if you make it work with persistence....

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  #12 (permalink)
The fun is in the numbers
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HJohnson View Post
I am new to day trading and currently trading the S & P E minis. I am wondering, once a trader figures out a strategy that consistently works. How do not all day traders become very wealthy by just using the system and adding contracts? Or does know one every figure out a strategy that consistently works?

(cavet: a lot depends upon what you mean by "consistent"_

Lets' say by consistent you mean that at the end of each you are up x points per contract. There are days with good gains and days with losses but by the end of the weekend you are always up by at least x points per contract.

With that as a criteria of consistency there are probably no consistent traders.(*)

A friend (when I posed a version of your question to him) replied,
"I think they (the traders who call themselves "successful") go through winning streaks and drawdown streaks.

This, I think, gets closer to the truth.

I think your question is an good one. I'm surprised experienced traders don't ask themselves this question.
By consistent I do not mean "I make $250,000 per year" or some flat amount. This would be a flat return, requiring you to take out capital or that had drawdowns (i.e. inconsistent).
---
(*) I don't mean to say no-one because I believe that with Divine help anything is possible, but as your question correctly implies the math of compounding says that you will be the first.

Keep your mind in the future, in the now.

Last edited by aquarian1; October 20th, 2013 at 02:09 AM.
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  #13 (permalink)
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System's exist that are consistent. But those systems are always dependent upon the person trading it, and not the other way around. Train your brain, then you can trade anything. Learn price action..

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  #14 (permalink)
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The blunt truth

Consistent systems definitely exist, there are plenty of journals by traders who consistently trade them on here however most fail or end up changing their system for a variety of reasons. The problem is that the market isn't consistent. Some days the market just will not cooperate with any trades on a particular system and most people won't know how to stop or not trade during these conditions. Sometimes you'll even see a trending day that a particular trending system won't make money off of or a range day that a range system won't make money off of and the key here is to obey the maximum daily loss and wait for more conducive conditions. Not everyone can trade the same system, the market won't allow it either especially given x number of contracts at a specific entry price. If I gave 100 people a system I bet the majority of them would end up trying to tweak the system when they get bored with times of inactivity and end up changing the whole system especially if they ran into an initial draw-down. In the end you might have 1 or 2 people trading it and by the time they can accomplish trading bulk they'll probably move to other instruments or time frames to compensate for the supply of necessary liquidity to trade with such size.



Last edited by Itchymoku; October 20th, 2013 at 07:53 AM.
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  #15 (permalink)
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A system is the method+ trader +money management+risk management +luck+unknown factors. Consistency means that all these corroborate to get a consistent result. I have 3 systems that are very consistent in the last 10 years but when I gave one to a friend to trade he screwed up and got a margin call due to stupidity and lack of knowledge. During the same time I made 37%. He still blames the markets and the conspiracy behind them. He will never blame himself. Your number one enemy: arrogance.

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  #16 (permalink)
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Yes they exist. No I don't know any consistent daytrade systems.
I have currently three (low correlated?) swing trading systems that are all three consistent.

Their win rate per year is 15%, 20% and 50%. The last one I only have forward traded for one year.

As you can see, consistency, but barely any profits. two of my systems make less money than Buffet!

So to say consistent systems make you rich is untrue. 20% will not make me rich, since the lifespan of my systems I dont expect to be 10 year+

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  #17 (permalink)
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Big Mike View Post
Consistency is best achieved with emphasis on diversification, ie a portfolio of systems trading baskets of instruments in a way that improves the risk profile.

Sent from my LG Optimus G Pro

Mike- how may instruments do you day trade and are the time frames the same for all.

thx

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  #18 (permalink)
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tflanner View Post
Mike- how may instruments do you day trade and are the time frames the same for all.

thx

Manually just a few. Algos several dozen.

Sent from my LG Optimus G Pro

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  #19 (permalink)
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Big Mike View Post
Consistency is best achieved with emphasis on diversification, ie a portfolio of systems trading baskets of instruments in a way that improves the risk profile.

That's a major point of this book

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Following the Trend: Diversified Managed Futures Trading (Wiley Trading): Andreas Clenow: 9781118410851: Amazon.com: Books

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  #20 (permalink)
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shodson View Post
That's a major point of this book

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Following the Trend: Diversified Managed Futures Trading (Wiley Trading): Andreas Clenow: 9781118410851: Amazon.com: Books

Cool, I've not heard of this author. I will add to my list.

Mike

Due to time constraints, please do not PM me if your question can be resolved or answered on the forum.

Need help?
1) Stop changing things. No new indicators, charts, or methods. Be consistent with what is in front of you first.
2) Start a journal and post to it daily with the trades you made to show your strengths and weaknesses.
3) Set goals for yourself to reach daily. Make them about how you trade, not how much money you make.
4) Accept responsibility for your actions. Stop looking elsewhere to explain away poor performance.
5) Where to start as a trader? Watch this webinar and read this thread for hundreds of questions and answers.
6)
Help using the forum? Watch this video to learn general tips on using the site.

If you want
to support our community, become an Elite Member.

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