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No more BS- what works and what doesnt.
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No more BS- what works and what doesnt.

  #21 (permalink)
Trading for Fun
Brisbane Queensland Australia
 
Trading Experience: Advanced
Platform: Prorealtime
Favorite Futures: No i dont trade for fun i trade for profit
 
Ozquant's Avatar
 
Posts: 181 since Aug 2017
Thanks: 109 given, 274 received

Last 12 months of my trading in my Major trading instrument , totally systematic . Been a long journey with steady improvement since i went full systematic . I dont think stats like this are top 0.1% at all . I will be 7/8 figures soon enough , you got to live as well so it takes a while . No debt , freehold house , the nice things with holidays on the journey . The FU money not far away then i can crank it up and i will . 2019 will be huge for me , i already know

It aint easy , lots of hard work and migraines . Hardest work i have ever done by far



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  #22 (permalink)
Elite Member
San Diego, Miami & On the lake (Summer)
 
Trading Experience: Advanced
Platform: Ninja, Sierra
Broker/Data: CQG, TT
Favorite Futures: indices/currencies
 
Posts: 420 since Oct 2009
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Yea; I shouldn't have typed about the money - that's individual and a byproduct of the work.

Regardless, that is some excellent work and I am impressed. Keep going!

Sure, trading is so much more than nearly any other career and worth the journey for those that by endurance can conquer the math and grind out that edge.

; )

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  #23 (permalink)
Life's short, risk it all
Portland, OR
 
Trading Experience: None
Platform: thinkorswim
Broker/Data: TD Ameritrade
Favorite Futures: ES/NQ/RTY/YM
 
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researcher247 View Post
Wait wait wait a minute! I have a finance background (undergrad) and statistics/math background (grad school) from 25-30 years ago which are just pieces of paper and I think I burned them in effigy in my mid 20's...

However, 60% hit rate @2:1 r:r Even if you are only trading 10-15 trades per week and net net you are 1.8 r:r @60% winners; then you my friend are the top 0.1% of all traders.

Have you done the math on this over time? It is insane. You should be banging out 50-100 lots in your instrument of choice and clearing 7 figures+ per year unless your absolute net per trade is like $15.00 per trade and your doing 2-3 lots per trade or something in that area.

Congrats though. Numbers you quoted are as impressive as I have ever seen in trading.

@researcher247 avg 60% win and avg 2:1 r:r are recent averages over the past 6 months, even hitting 72% win and 1.6 r:r in November with each trade detailed in my journal. over the past 4 years I've put up high 5 and low 6 figure years. One doesn't just start trading 50-100 lot trades... I've been through some serious shit the past 3 years so I've kept my risk low. But I will start increasing size when the time is right for me. I also posted a screenshot of my live trading screen showing my profit on the year a few years back.

"you haven't traded that well or you would be doing this and you'd be this good" then at the end you say "congrats though" That's funny man.


Last edited by Massive l; January 4th, 2019 at 12:13 PM.
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  #24 (permalink)
Elite Member
Singapore
 
Trading Experience: None
Platform: MetaTrader 4
Favorite Futures: Spot Forex
 
Posts: 30 since Dec 2018
Thanks: 0 given, 7 received

Well, what are you trading? And how do you perceive the markets?

Fundamentally, what is trading? Why do people buy and sell? And why do people places their stops at where?

If you can understand these, then you can hone an edge from it.

And since you mentioned order flow trading, what are you reading when reading order flow? How does it tie into support and resistance?

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  #25 (permalink)
Elite Member
San Diego, Miami & On the lake (Summer)
 
Trading Experience: Advanced
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Massive l View Post
@researcher247 avg 60% win and avg 2:1 r:r are recent averages over the past 6 months, even hitting 72% win and 1.6 r:r in November with each trade detailed in my journal. over the past 4 years I've put up high 5 and low 6 figure years. One doesn't just start trading 50-100 lot trades... I've been through some serious shit the past 3 years so I've kept my risk low. But I will start increasing size when the time is right for me. I also posted a screenshot of my live trading screen showing my profit on the year a few years back.

"you haven't traded that well or you would be doing this and you'd be this good" then at the end you say "congrats though" That's funny man.

It was like 3am in the morning post - it was a bit rambling. A backhanded compliment is better than none!

; )

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  #26 (permalink)
Life's short, risk it all
Portland, OR
 
Trading Experience: None
Platform: thinkorswim
Broker/Data: TD Ameritrade
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researcher247 View Post
It was like 3am in the morning post - it was a bit rambling. A backhanded compliment is better than none!

; )

no doubt haha I get it. all good brother

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  #27 (permalink)
Elite Member
Jupiter Island, FL
 
Trading Experience: Advanced
Platform: TOS
Broker/Data: TOS
 
Posts: 16 since Jan 2015
Thanks: 29 given, 47 received

Some thoughts:

I make a living trading futures daily and have for a good many years. Before that I traded stocks and currencies. Here are some things I've learned about being consistently profitable as a full-time trader.

1- People who teach, publish newsletters, host trading rooms, etc may have tons of knowledge, but in all likelihood do not possess the ability to trade with consistent profits. I learned this the hard way. Ask yourself, if a guy could make ten grand a day trading futures--which is fairly time consuming--then why is he spending so much time fussing around with mailing lists, and trading rooms, and baby sitting a bunch of novice traders who need to stay novices forever in order to keep subscribing.

2- You can learn the basics and plenty of general wisdom from books, websites and gurus, but in order to become a successful trader (not on paper or back-testing, but in actual, daily results) you will have to spend eons of time with your charts and figure it out yourself. Static (end of the day) charts are of limited use. I day trade and so my years of learning involved watching the live chart during the trading day.

3- 99% of the claims of "traders" found on forums, YouTube videos, and websites is bullshit. Anyone showing expensive cars and homes is double bullshit.

4- There are three aspects of my trading approach that I have never heard discussed in trading books. I discovered these methods through analysis and paper trading of a futures instrument daily over the course of 3 years. If I have an "edge", these three things would be it. I think they are unique to the contract I trade and would probably not be effective on other futures contracts. I believe to become truly successful, you will need to find this edge for whatever you are trading. These methods, I would never share publicly.

5- When I first began, I found it difficult, if not impossible, to trade with less than about $50K to start. If I lost everything (extremely unlikely), I could start again quite easily and make a living (to which my wife has become accustomed, lol) with this amount. I keep it in cash in a safe at the home of a close relative in case I ever have to start again from scratch. Pretty impossible to imagine at this point, but people need their security blankets...

6- I trade from open to noon and then I am done and don't look at a single damn chart or CNBC or financial news item for the rest of the day. Trading--as lucrative as it is--cannot be something that consumes all of life.

7- I tried trading on the road and I don't like it. Trading from a rented villa in Tuscany or a beachfront condo in Hawaii sounds interesting but the connections are inconsistent and probably insecure. I prefer to trade from my desk with only three screens and minimal indicators, most of which are custom built for my methodology. I have a vacation home with an identical trading station, but I have never been comfortable trading on a laptop. That said, I take three-four months off each year and travel. These months coincide with "quiet periods" in my contract.

8- I have not been able to teach anyone to trade. I taught my son a simplified day trade based on my approach so he can play around with one contract. I hired an assistant to trade other accounts I have but he has to be in the room with me and simply execute my instructions.

9- The most important thing I learned about indicators and trading tools is that most of them ruin your trades. Confidence in your system / signals is key. Too many indicators erodes that confidence. A simple chart is better.

10- I enjoy trading, for the most part, and look forward to my mornings in the market.


Last edited by thw333333; January 5th, 2019 at 05:53 AM.
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  #28 (permalink)
Trading for Fun
London
 
Trading Experience: Beginner
Platform: MT4
Favorite Futures: Forex
 
Posts: 94 since Apr 2018
Thanks: 110 given, 66 received


thw333333 View Post
I make a living trading futures daily and have for a good many years. Before that I traded stocks and currencies. Here are some things I've learned about being consistently profitable as a full-time trader.

1- People who teach, publish newsletters, host trading rooms, etc may have tons of knowledge, but in all likelihood do not possess the ability to trade with consistent profits. I learned this the hard way. Ask yourself, if a guy could make ten grand a day trading futures--which is fairly time consuming--then why is he spending so much time fussing around with mailing lists, and trading rooms, and baby sitting a bunch of novice traders who need to stay novices forever in order to keep subscribing.

2- You can learn the basics and plenty of general wisdom from books, websites and gurus, but in order to become a successful trader (not on paper or back-testing, but in actual, daily results) you will have to spend eons of time with your charts and figure it out yourself. Static (end of the day) charts are of limited use. I day trade and so my years of learning involved watching the live chart during the trading day.

3- 99% of the claims of "traders" found on forums, YouTube videos, and websites is bullshit. Anyone showing expensive cars and homes is double bullshit.

4- There are three aspects of my trading approach that I have never heard discussed in trading books. I discovered these methods through analysis and paper trading of a futures instrument daily over the course of 3 years. If I have an "edge", these three things would be it. I think they are unique to the contract I trade and would probably not be effective on other futures contracts. I believe to become truly successful, you will need to find this edge for whatever you are trading. These methods, I would never share publicly.

5- When I first began, I found it difficult, if not impossible, to trade with less than about $50K to start. If I lost everything (extremely unlikely), I could start again quite easily and make a living (to which my wife has become accustomed, lol) with this amount. I keep it in cash in a safe at the home of a close relative in case I ever have to start again from scratch. Pretty impossible to imagine at this point, but people need their security blankets...

6- I trade from open to noon and then I am done and don't look at a single damn chart or CNBC or financial news item for the rest of the day. Trading--as lucrative as it is--cannot be something that consumes all of life.

7- I tried trading on the road and I don't like it. Trading from a rented villa in Tuscany or a beachfront condo in Hawaii sounds interesting but the connections are inconsistent and probably insecure. I prefer to trade from my desk with only three screens and minimal indicators, most of which are custom built for my methodology. I have a vacation home with an identical trading station, but I have never been comfortable trading on a laptop. That said, I take three-four months off each year and travel. These months coincide with "quiet periods" in my contract.

8- I have not been able to teach anyone to trade. I taught my son a simplified day trade based on my approach so he can play around with one contract. I hired an assistant to trade other accounts I have but he has to be in the room with me and simply execute my instructions.

9- The most important thing I learned about indicators and trading tools is that most of them ruin your trades. Confidence in your system / signals is key. Too many indicators erodes that confidence. A simple chart is better.

10- I enjoy trading, for the most part, and look forward to my mornings in the market.

This is a great post and you can see right away that the poster knows what he or she is talking about. More importantly they make a living from the market not from training or providing signals.

For me the main takeaway is focus on one instrument, learn it inside out, and find an edge in it that you understand and can execute profitably.

Thanks for this great info.

Sent using the futures.io mobile app

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  #29 (permalink)
Elite Member
Cape Coral FL USA
 
Trading Experience: Advanced
Platform: Tradestation
Broker/Data: Tradestation
Favorite Futures: CL, GC, NQ
 
Posts: 10 since Aug 2014
Thanks: 0 given, 32 received

I completely agree with thw333333's comments. They mirror my experiences pretty closely. I have been trading futures for over 21 years and things are finally coming together. I have gone from using multiple indicators and multiple markets to using nothing but an EMA, and ADX. And I am only following one market (CL). I have simplified my entries to if A occurs then I do B. Then repeat. Yes, boring, but much less stressful. Its actually enjoyable now. I only wish it hadn't taken so long but better late than never.

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  #30 (permalink)
Elite Member
Columbus, Ohio
 
Trading Experience: Intermediate
Platform: NinjaTrader
Favorite Futures: NQ
 
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Mabi View Post
I try to find as many entry setups as possible to create diversification to avoid long draw down periods. I do not create them my self my computers does this. I do not care much about the code since i can see the result on the EQ curve nor do i look at charts anymore just the median (SPP) results overtime. It is not hard to find strategies this way that works. Same entry can usually be used with different exits to create a totally different performance which will work in periods were other exits do not. For example.

1. High Win% 75-90% works very well in sideways markets because they have large stops and small targets.
2. Medium Win% 45-60% work well in trending markets , breakouts and mean reversion usually end up here.
3. Low win% 15-30% works also if You can diversify enough. Very small stops but with huge targets.

@Mabi I'm starting to realize this approach myself... I have found edges in all three categories you mention. I am currently trying to piece some together.
I have found the low win % edges are more comfortable for me though. Mostly because when hitting a series of loses, my drawdown is easier to deal with mentally.

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