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Best place to learn and become a consistent trader?

  • #61
  • Apr 4, 2012 1:11am Apr 4, 2012 1:11am
Quoting Custos
Then please show me, as I can't remember them.
Custos
Member

Member Since Dec 2006
3,136 Posts

Quote:
Originally Posted by PipJaeger
Now, this is all from just 1% a day, and really, a good trader can average more than that.

Custos said,

"haha, 1 % a day CONSISTENTLY? You gotta be kidding me. So go ahead and become bill gates then. blablabla.

Maybe in 3 years, invite me to your yacht and show me the statements of your trading account"
  • #62
  • Apr 4, 2012 3:26am Apr 4, 2012 3:26am
And where in this post did I admit that short-term trading is profitable?

Quoting jag1966
Custos
Member

Member Since Dec 2006
3,136 Posts

Quote:
Originally Posted by PipJaeger
Now, this is all from just 1% a day, and really, a good trader can average more than that.

Custos said,

"haha, 1 % a day CONSISTENTLY? You gotta be kidding me. So go ahead and become bill gates then. blablabla.

Maybe in 3 years, invite me to your yacht and show me the statements of your trading account"
  • #63
  • Apr 4, 2012 3:38am Apr 4, 2012 3:38am
Quoting Custos
And where in this post did I admit that short-term trading is profitable?
my bad sorry I thought you had realised how little credibility you have by denying short term trading is profitable in the statement you made below,

"Custos
Member

Member Since Dec 2006
3,137 Posts

While just a couple of months ago I was stating vehemently that ridiculous returns like a thousand percent a year are not possible to pull off consistently, I recently have discovered that I have been partly wrong. It is possible to achieve this kind of return on average per year, but from my current understanding, there is a price to be paid for that. And that price is "uncomfortable drawdowns".

I have yet to discover a system (that is not overoptimized), that can give an average return of 1000% a year with just a 30% max drawdown. But there are definitely systems that can achieve high returns, if one can stomach a 60-80% max drawdown.

So the thing is: most people would not be able to stick to the trading plan when 80% of their account is wiped out, thus for most this might just be theoretically possible.

The edge would have to be crystal clear and there shouldn't be any doubt that the edge plays itself out. For most this won't be possible, cause they didn't do the research required to be confident enough."

If you still believe short term charts cannot be traded profitably then I feel truly sorry for you and you definitely shouldn't be doling out advice to newbs, especially in the rude manner of some recent post.
  • #64
  • Apr 4, 2012 4:33am Apr 4, 2012 4:33am
I still can't see where I made the statement that short-term trading can be profitable. The systems I referred to are not intraday systems.
Quoting jag1966
my bad sorry I thought you had realised how little credibility you have by denying short term trading is profitable in the statement you made below,

"Custos
Member

Member Since Dec 2006
3,137 Posts

While just a couple of months ago I was stating vehemently that ridiculous returns like a thousand percent a year are not possible to pull off consistently, I recently have discovered that I have been partly wrong. It is possible to achieve this kind of return on average per year, but from my current understanding, there is a price to...
  • #65
  • Apr 4, 2012 4:38am Apr 4, 2012 4:38am
Quoting Nikopip
Ive actually been getting a lot out of them Hellas cheers .. sometimes i don't look as far back as i should to see where S&R lines may be retesting the way you illustrate it has helped me take my blinders off a little ..

Thanks Nikopip, yet another break of the trend line after consolidation and zone...effective once again
Attached Image (click to enlarge)
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  • #66
  • Apr 4, 2012 7:24am Apr 4, 2012 7:24am
EURO re tested resistance off previous lows, watch the breaks Nikopip to train your eye
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  • #67
  • Apr 5, 2012 1:07am Apr 5, 2012 1:07am
Quoting jag1966

cannot

Quoting Custos

can

I'm confused!

Profitable short term trading......who is saying it can be, and who is saying it cannot be?
  • #68
  • Apr 5, 2012 1:27am Apr 5, 2012 1:27am
Quoting pipmutt
I'm confused!

Profitable short term trading......who is saying it can be, and who is saying it cannot be?
It can, but you gotta beat the spread, plus take more opportunities, increasing your sample space each time.


but can be done, otherwise there would be no HFT, or scalpers.
AVT INVENIAM VIAM AVT FACIAM
  • #69
  • Apr 5, 2012 1:33am Apr 5, 2012 1:33am
Love your slogan the redlion!
  • #70
  • Apr 5, 2012 1:52am Apr 5, 2012 1:52am
the ancient classical greek?

or the latin?
AVT INVENIAM VIAM AVT FACIAM
  • #71
  • Apr 5, 2012 2:00am Apr 5, 2012 2:00am
Quoting the redlion
the ancient classical greek?

or the latin?

the ancient Greek!
  • #72
  • Apr 5, 2012 2:12am Apr 5, 2012 2:12am
Quoting the redlion

It can, but you gotta beat the spread, plus take more opportunities, increasing your sample space each time.


but can be done, otherwise there would be no HFT, or scalpers.
HFT and scalping (the real definition rather than the retail one) are something else but anyway....

It seems that Custos and jag1966 are talking at cross purposes, one is saying that the other one said it cannot but the other one said it can.....I'm confused about the conversation itself more than the actual topic!
  • #73
  • Apr 5, 2012 3:05am Apr 5, 2012 3:05am
Quoting pipmutt
HFT and scalping (the real definition rather than the retail one) are something else but anyway....

It seems that Custos and jag1966 are talking at cross purposes, one is saying that the other one said it cannot but the other one said it can.....I'm confused about the conversation itself more than the actual topic!
Custos is adamant no-one makes money trading short term.
  • #74
  • Apr 5, 2012 3:47am Apr 5, 2012 3:47am
Quoting jag1966

Custos is adamant no-one makes money trading short term.
We must be reading different posts then because I didn't see that bit.
  • #75
  • Apr 5, 2012 4:38am Apr 5, 2012 4:38am
Euro delivered off the recommended sr levels ......another nice set up
Attached Image (click to enlarge)
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  • #76
  • Apr 5, 2012 11:48am Apr 5, 2012 11:48am
Quoting pipmutt
HFT and scalping (the real definition rather than the retail one) are something else but anyway....

It seems that Custos and jag1966 are talking at cross purposes, one is saying that the other one said it cannot but the other one said it can.....I'm confused about the conversation itself more than the actual topic!
Jag1966 says short-term trading can be profitable over the long-term.

I for now think that it can't be profitable over the long-term. For some odd reason he thought that I admitted somewhere in my old posts that short-term trading is profitable. But I never stated that.

Extraordinary returns can be achieved, but not by intraday systems. (Again, this is my belief right now, as I have not found a proof yet that they can be profitable over the long-term. Maybe by testing out more intra-day systems I will come up with one that can beat trading costs.)

However, let me state this: if we didn't have commissions, slippage and spread, then there are profitable intraday systems. Unfortunately when these costs are factored in, then all of them get a negative expectancy (at least the ones I tested)
  • #77
  • Apr 5, 2012 11:54am Apr 5, 2012 11:54am
Quoting Custos
Jag1966 says short-term trading can be profitable over the long-term.

I for now think that it can't be profitable over the long-term. For some odd reason he thought that I admitted somewhere in my old posts that short-term trading is profitable. But I never stated that.

Extraordinary returns can be achieved, but not by intraday systems. (Again, this is my belief right now, as I have not found a proof yet that they can be profitable over the long-term. Maybe by testing out more intra-day systems I will come up with one that can beat trading...
That may be an issue with systems.

But when you know where the institutional orders are placed, it's extremely easy to dip into the market and take what it's offering, be it 5 pips or 5,000
  • #78
  • Apr 5, 2012 11:57am Apr 5, 2012 11:57am
Quoting Ifmyante
That may be an issue with systems.
maybe
  • #79
  • Apr 5, 2012 12:38pm Apr 5, 2012 12:38pm
Quoting Custos

Jag1966 says short-term trading can be profitable over the long-term.

I for now think that it can't be profitable over the long-term. For some odd reason he thought that I admitted somewhere in my old posts that short-term trading is profitable. But I never stated that.
I suppose it depends on what you call short-term and long-term.

Quoting Custos

Extraordinary returns can be achieved, but not by intraday systems. (Again, this is my belief right now, as I have not found a proof yet that they can be profitable over the long-term. Maybe by testing out more intra-day systems I will come up with one that can beat trading costs.)
Again it depends on what you consider to be extraordinary returns. Strategy and how profits are compounded obviously play a part.


Quoting Custos

However, let me state this: if we didn't have commissions, slippage and spread, then there are profitable intraday systems. Unfortunately when these costs are factored in, then all of them get a negative expectancy (at least the ones I tested)
In your experience to date, that's fine, maybe your opinion will change in time.
  • #80
  • Apr 5, 2012 12:42pm Apr 5, 2012 12:42pm
Quoting Ifmyante

But when you know where the institutional orders are placed
Let me know when you find a method because that would be a neat trick! Quite often different departments of the same institution don't know where their colleagues orders are, what chance have we got of knowing where all the institutional orders are!
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