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Do consistent systems exist?
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Do consistent systems exist?

  #1 (permalink)
Trading Apprentice
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Do consistent systems exist?

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?

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  #2 (permalink)
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  #3 (permalink)
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HJohnson View Post
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?

There are many systems that get positive gains - "most" of the time.
This is the real world - markets change - systems do not always work under all market conditions.
Seeing that - some longer winning periods might be erased by a very short losing period.

Find some interesting threads on futures.io (formerly BMT) by typing "consistent" or "profitable" in the search box. You will find a lot.

GFIs1

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  #4 (permalink)
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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?

Do you eat non-stop just because you have the power and knowkedge to find food? If not then this is similar in trading. We all have different degree of hunger. You need to know yourself and act accordingly. It is said that problems arise when you become greedy and are not well equipped to deal with it. Basically, it is a question of risk perception. People respond to a risk or hazard in ways consistent to their perception of that risk. The more contract you add the more your perception of risk increases. That's human nature.

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  #5 (permalink)
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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?

Adding size takes time. For example, if you only have enough $ to trade 1 contract, you have to double your account size to trade 2, assuming you are using the same level of leverage. It may take 2-10 years for 99% of good traders to double their account balance, assuming they don't deposit more cash into their account.


HJohnson View Post
Or does know one every figure out a strategy that consistently works?

Most don't. They can, but they have unrealistic expectations of how fast they should grow their account, or of how difficult is to go through the drawdowns, or they don't have the patience and psychological fortitude it takes to swim through the eventual ups and downs that end up at the upper right corner of the equity chart.

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  #6 (permalink)
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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?

If you would know of a hidden place with a gold mine would you sell $500 tickets to it?

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  #7 (permalink)
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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?

...and the chances of figuring out a strategy that consistently works are about the same as finding a hidden place with a gold mine

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  #8 (permalink)
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shodson View Post

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I love that picture. Another way that I look at success is that it's never far away but more times than not it's just out of reach.

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paul79 View Post
If you would know of a hidden place with a gold mine would you sell $500 tickets to it?

The gold mine is the market. The trick is figuring out how to mine the gold, sift through the dirt, sustain your operation's capital by finding gold quickly and efficiently enough to make it worth your while. It's not a hoard of treasure, like in the movie "National Treasure", it's a big place with lots and lots of dirt with a few places that have small nuggets of gold that you have to work really hard at to find.

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  #10 (permalink)
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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.

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