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How long do you hold a trade and are you profitable?

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  • How long do you hold a trade and are you profitable?
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  • Post #1
  • Quote
  • First Post: Edited Feb 10, 2010 12:16am Feb 3, 2010 4:43am | Edited Feb 10, 2010 12:16am
  •  kk007
  • | Joined Feb 2009 | Status: Commercial Member <- Don't trust me | 2,976 Posts
I am hosting this polling about the relationship between trade position duration and profitability. If you have actively traded for some time, feel free to take the polling.

Defintions:

Already Profitable: You are now consistently profitable, and you are confident that you can continue to be profitable
Not Yet Profitable: You are not yet profitable or you have some profit but have no confidence in your consistency.
I am a day trader: You may or may not classify yourselve as a scalper, but you don't normally hold a trade over-night.

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  • Post #2
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  • Feb 3, 2010 4:55am Feb 3, 2010 4:55am
  •  lillelise
  • | Joined Jan 2007 | Status: Member | 1,101 Posts
took a long 20 years ago still holding it..the profit is for my old ages...
StopLoss is for none belivers... Trust the Gurus..
 
 
  • Post #3
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  • Feb 3, 2010 5:00am Feb 3, 2010 5:00am
  •  kk007
  • | Joined Feb 2009 | Status: Commercial Member <- Don't trust me | 2,976 Posts
Quoting lillelise
Disliked
took a long 20 years ago still holding it..the profit is for my old ages...
Ignored
I wouldn't call holding positions held for years as active trading, and so no option is for this.
 
 
  • Post #4
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  • Feb 3, 2010 5:10am Feb 3, 2010 5:10am
  •  lillelise
  • | Joined Jan 2007 | Status: Member | 1,101 Posts
Quoting kk007
Disliked
I wouldn't call holding positions held for years as active trading, and so no option is for this.
Ignored
do you recomend closing it now ?
StopLoss is for none belivers... Trust the Gurus..
 
 
  • Post #5
  • Quote
  • Feb 3, 2010 5:21am Feb 3, 2010 5:21am
  •  kk007
  • | Joined Feb 2009 | Status: Commercial Member <- Don't trust me | 2,976 Posts
Quoting lillelise
Disliked
do you recomend closing it now ?
Ignored
Wow... I don't take responsibility for your decision...
 
 
  • Post #6
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  • Feb 3, 2010 5:43am Feb 3, 2010 5:43am
  •  nubcake
  • Joined Oct 2009 | Status: >Apocalypto< for Deputy PM | 3,211 Posts | Online Now
Quoting lillelise
Disliked
do you recomend closing it now ?
Ignored
HEDGE IT!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

no no, CLOSE HALF MOVE TO BREAKEVEN!!!!!!!!!!!!!

no, um....... lemme think....

IT MUST BE A TOP SO REVERSE!!!!

hedge it, flip it, halve it, trail it, lose it, close it, stop, go bank it.
 
 
  • Post #7
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  • Feb 3, 2010 5:48am Feb 3, 2010 5:48am
  •  forexmick
  • | Joined Oct 2008 | Status: Member | 255 Posts
Quoting kk007
Disliked
I wouldn't call holding positions held for years as active trading, and so no option is for this.
Ignored
I think lillelise is spinning the bollocks to ya. Bloody hell, you took him serious? btw, i hold trades for a day or two and I have been profitable for nearly a year
 
 
  • Post #8
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  • Feb 3, 2010 6:03am Feb 3, 2010 6:03am
  •  kk007
  • | Joined Feb 2009 | Status: Commercial Member <- Don't trust me | 2,976 Posts
Quoting forexmick
Disliked
I think lillelise is spinning the bollocks to ya. Bloody hell, you took him serious? btw, i hold trades for a day or two and I have been profitable for nearly a year
Ignored
Yes. For a moment, I took him serious.
Thanks for your alert and your vote.
 
 
  • Post #9
  • Quote
  • Feb 3, 2010 6:04am Feb 3, 2010 6:04am
  •  kk007
  • | Joined Feb 2009 | Status: Commercial Member <- Don't trust me | 2,976 Posts
Quoting nubcake
Disliked
HEDGE IT!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

no no, CLOSE HALF MOVE TO BREAKEVEN!!!!!!!!!!!!!

no, um....... lemme think....

IT MUST BE A TOP SO REVERSE!!!!

hedge it, flip it, halve it, trail it, lose it, close it, stop, go bank it.
Ignored
sort of funny recommendations... hahaha
 
 
  • Post #10
  • Quote
  • Feb 3, 2010 8:53am Feb 3, 2010 8:53am
  •  kk007
  • | Joined Feb 2009 | Status: Commercial Member <- Don't trust me | 2,976 Posts
Haha... so many profitable daytraders voted here... back to the days when I was studying some quite popular threads in this forum (J16, Jacko, etc.) posters kept telling me that daytrading is much more difficult than trading with D1 charts. This polling changes some of my earlier perception. Thanks for the voters!
 
 
  • Post #11
  • Quote
  • Feb 3, 2010 10:22am Feb 3, 2010 10:22am
  •  lillelise
  • | Joined Jan 2007 | Status: Member | 1,101 Posts
StopLoss is for none belivers... Trust the Gurus..
 
 
  • Post #12
  • Quote
  • Feb 3, 2010 10:46am Feb 3, 2010 10:46am
  •  tradestar1
  • Joined Nov 2009 | Status: Member | 996 Posts
Quoting kk007
Disliked
Haha... so many profitable daytraders voted here... back to the days when I was studying some quite popular threads in this forum (J16, Jacko, etc.) posters kept telling me that daytrading is much more difficult than trading with D1 charts. This polling changes some of my earlier perception. Thanks for the voters!
Ignored
I wouldn't take a poll on any forum too seriously if I were you..........
 
 
  • Post #13
  • Quote
  • Feb 3, 2010 11:03am Feb 3, 2010 11:03am
  •  kk007
  • | Joined Feb 2009 | Status: Commercial Member <- Don't trust me | 2,976 Posts
Quoting tradestar1
Disliked
I wouldn't take a poll on any forum too seriously if I were you..........
Ignored
Anything on this forum do you think I should take seriously?
 
 
  • Post #14
  • Quote
  • Feb 3, 2010 12:14pm Feb 3, 2010 12:14pm
  •  Razzle
  • Joined Dec 2005 | Status: Member | 336 Posts
Regarding trade duration. In general, even if you have an edge, if the duration is too short, the edge may not overcome transaction costs. Conversely, if the trade duration is too long, the frequency with which the edge presents itself may be insufficient to realistically generate sufficient income (and worse still you may incur additional transaction costs in the form of swap and opportunity costs etc).

Trade duration should be frequent enough to generate a statistically significant sample size within the time horizon that you've chosen to monitor your performance. but long enough to overcome transaction costs. This is where you can get into a bit of a mess as the two may be incompatible.

Its up to you to define what those are. Its a good question though, and I'm sure if you take the time to determine the answer you'll find it a useful exercise.

Ultimately though, the trade duration has to be something that you are comfortable with, and something thats achievable. You cant really day trade and hold down a full time job, and you cant swing or position trade on a part time basis if by nature youre predisposed to be a scalper.
 
 
  • Post #15
  • Quote
  • Feb 3, 2010 8:53pm Feb 3, 2010 8:53pm
  •  kk007
  • | Joined Feb 2009 | Status: Commercial Member <- Don't trust me | 2,976 Posts
Good post. Agree.

Quoting Razzle
Disliked
Regarding trade duration. In general, even if you have an edge, if the duration is too short, the edge may not overcome transaction costs. Conversely, if the trade duration is too long, the frequency with which the edge presents itself may be insufficient to realistically generate sufficient income (and worse still you may incur additional transaction costs in the form of swap and opportunity costs etc).

Trade duration should be frequent enough to generate a statistically significant sample size within the time horizon that you've chosen to monitor...
Ignored
 
 
  • Post #16
  • Quote
  • Feb 3, 2010 10:39pm Feb 3, 2010 10:39pm
  •  kk007
  • | Joined Feb 2009 | Status: Commercial Member <- Don't trust me | 2,976 Posts
I don't think polling results are of poor-quality on this forum, as far as the polling issues addressed properly. Here is the result from a polling (not by me). I believe it is more myth-scattering than myth-creating.
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  • Post #17
  • Quote
  • Feb 4, 2010 2:41pm Feb 4, 2010 2:41pm
  •  poundforex
  • | Joined Jan 2010 | Status: Member | 36 Posts
Quoting lillelise
Disliked
took a long 20 years ago still holding it..the profit is for my old ages...
Ignored
It won't be the EURO then will it! hope it wasn't the Lira or the Mark. I expect it would be better to turn them into chocolate buttons this year.
{Promotion Removed}
 
 
  • Post #18
  • Quote
  • Feb 9, 2010 10:33am Feb 9, 2010 10:33am
  •  kk007
  • | Joined Feb 2009 | Status: Commercial Member <- Don't trust me | 2,976 Posts
Daytraders are the majority here! Great!
 
 
  • Post #19
  • Quote
  • Feb 10, 2010 3:56am Feb 10, 2010 3:56am
  •  kk007
  • | Joined Feb 2009 | Status: Commercial Member <- Don't trust me | 2,976 Posts
Right!

8 out of 22 (8+14) intraday traders unable to be profitable
0 out of 8 interday traders unable to be profitable

Yes, it is easier to be profitable with cross-day trading!

.
 
 
  • Post #20
  • Quote
  • Feb 11, 2010 5:23am Feb 11, 2010 5:23am
  •  kk007
  • | Joined Feb 2009 | Status: Commercial Member <- Don't trust me | 2,976 Posts
50+ target met. Let me take a screenshot!
Attached Image (click to enlarge)
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Size: 13 KB
 
 
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