Jump to content

Recommended Posts

Hi,

I've been day trading with BBT for about a year now and I'm still in SIM. So far I haven't been able to come up with a consistence result with a very fluctuating equity curve. My plan is to go live if I can have a positive equity curve trading in SIM since trading live with real money is a lot harder mentally real money is on the line. 

So day trade for a living seems like a distance dream for me at the moment, perhaps I need a little inspiration... except for the BBT moderators, anyone here day trading full-time for a living?

If so, would you please share your success story?

I would really appreciate it if you would share your tips to make my journey a lot easier.

 

 

 

 

 

 

Share this post


Link to post
Share on other sites

Maybe you just need better focus on the mistakes you struggle most with. I am still not consistent too but last year my trading improved so much just by properly journaling.

  • Like 2

Share this post


Link to post
Share on other sites

I also want to hear from someone who day trade for living. I have been trading for 1.5 and so far I only break even of with small profit. 

  • Like 1

Share this post


Link to post
Share on other sites
55 minutes ago, Milos Randelovic said:

I also want to hear from someone who day trade for living. I have been trading for 1.5 and so far I only break even of with small profit. 

Breaking even means you have over 50% win rate after all the running costs such as DAS, screener, commission, etc...  Day trading is a minus sum game! I think you are on the right path. 

Share this post


Link to post
Share on other sites

Day trading for a living... Clearly this is possible. However, for me it is the very final step of a long journey, on which I'm still at the early stages after 9 month in sim. Don't think in terms of doing it for a living. Think in terms of smaller more achievable steps. First, break even consistently. Second, make small profits and have it as a side hustle. Third, scale up and develop a cushion. Only after this are you really ready to make this your full time career. Along the way the key is to learn from mistakes. Journal thoroughly. Scrutinise your performance. Do more of what's working and stop doing what isn't. If you notice patterns that are leading to loss, try to prevent them. This is about the best you've got.

Share this post


Link to post
Share on other sites
40 minutes ago, Terry Tang said:

Breaking even means you have over 50% win rate

this is not true man. do not focus on the win rate so much. see my win rate for this month. still +8R

immagine.thumb.png.acb4c4205c3557d58af61c67b361faed.png

  • Like 2

Share this post


Link to post
Share on other sites
Just now, peterB said:

this is not true man. do not focus on the win rate so much. see my win rate for this month. still +8R

immagine.thumb.png.acb4c4205c3557d58af61c67b361faed.png

100% correct Peter. Good risk management allows profits with less than 50%. My stats for February were similar, c. 40% win rate but 20R profit for the whole month. This month hasn't been so good thanks to a few days mid-month when for some reason I figured I'd not be disciplined for a bit and surrendered 7R!

  • Like 1

Share this post


Link to post
Share on other sites

Thanks for your answers guys. I’ve been through those risk controls, R’s, win rates and all the stats, and while this is important it did not give me the profits to live of day trading. I would like to hear from someone who is day trading for living. So far I have met more than 10 people who are doing day trading for 2+ years and non of them is day trading for living or making any significant money. 
I know it is possible to do it so if someone is making money I would appreciate to come out and give us all some guidance.

  • Like 1

Share this post


Link to post
Share on other sites
6 hours ago, Adam Lewis said:

100% correct Peter. Good risk management allows profits with less than 50%. My stats for February were similar, c. 40% win rate but 20R profit for the whole month. This month hasn't been so good thanks to a few days mid-month when for some reason I figured I'd not be disciplined for a bit and surrendered 7R!

So what's your average R per month? My goal for now is to have a upward equity curve. I'm not too concern about how much I made as long as I'm not losing money. 

Share this post


Link to post
Share on other sites
2 hours ago, Terry Tang said:

So what's your average R per month? My goal for now is to have a upward equity curve. I'm not too concern about how much I made as long as I'm not losing money. 

Much to my frustration I only started seriously tracking in February. I was making consistent losses until the end of 2020, then worked on discipline. Fixed risk hot keys changed my game, helped me manage risk and position size correctly. I now simply never lose more than 1R on a trade, and often I'll come off earlier if the position degrades. The link below is to a post where I go through my February stats in a little bit of detail. March was also profitable until.... Well, until it wasn't! This was entirely my fault. I'm currently about -3R for March, I think. 

 

  • Like 1

Share this post


Link to post
Share on other sites
8 hours ago, Milos Randelovic said:

Thanks for your answers guys. I’ve been through those risk controls, R’s, win rates and all the stats, and while this is important it did not give me the profits to live of day trading. I would like to hear from someone who is day trading for living. So far I have met more than 10 people who are doing day trading for 2+ years and non of them is day trading for living or making any significant money. 
I know it is possible to do it so if someone is making money I would appreciate to come out and give us all some guidance.

You sound frustrated Milos. Unfortunately trading is a very, VERY personal thing. You need to find your own style. Some people are scalpers, some trade reversals, some are really really good at ABCDs over 2 hour trades. The only guidance anyone can give you is find your style that suits your personality, patience and risk tolerance. I'm still very much doing this. 

  • Like 1

Share this post


Link to post
Share on other sites
Posted (edited)

-3R for a month is nothing to be frustrated about. it is basically around break even. maybe you expected more but you need to accept small profits and small losses the same way. i was all about the profits too now i am getting better when i set my mind that 1R day is not worst 2R is OK 3R is good 4R is great and anything above is super. you cant aim for 20R profits every day. Just work on the no strategy trades and analyze your ABCDs for mistakes properly and work on them. It will come.

The success rate of the strategies can fluctuate even without making mistakes - see mine.

ABCD with mistakes

immagine.png.c429ad55e39da77a19d676f2c7e498d5.png

 

and without mistakes

immagine.png.a378f2660a16b7d9237df53539e32be9.png

 

if you are 1 day of trading from making the month profitable you are on the good path

Edited by peterB
  • Like 1

Share this post


Link to post
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now

×
×
  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.