Welcome to NexusFi: the best trading community on the planet, with over 150,000 members Sign Up Now for Free
Genuine reviews from real traders, not fake reviews from stealth vendors
Quality education from leading professional traders
We are a friendly, helpful, and positive community
We do not tolerate rude behavior, trolling, or vendors advertising in posts
We are here to help, just let us know what you need
You'll need to register in order to view the content of the threads and start contributing to our community. It's free for basic access, or support us by becoming an Elite Member -- see if you qualify for a discount below.
-- Big Mike, Site Administrator
(If you already have an account, login at the top of the page)
I was just wondering for the longer term day traders on here - how many setups do you have on a day to day basis?
Been trading for about a year now(market profile), but it all boiled down to one setup I found an edge in (and sometimes even that one isn’t taken based on rules), a very slow grindy kind of process.
Although I like the setup and it seems to work over the long run, I wanted to hear feedback from more experienced traders - is this normal? Can one setup a day actually do the job? I’d love to find another setup or two but just couldn’t find an edge in any other setup I tried which gets frustrating at times.
Well, from my experience only one good setup can (and will!) do the job.
And if this particular setup occurs even several times a day, you can exploit it like a 'mechanic' and earn your share....just do it every day, you really don't need a whole bunch of different setups!
Sounds a bit boring, doesn't it?
Just my $0.02.
"If you don't design your own life plan, chances are you'll fall into someone else's plan. And guess what they have planned for you? Not much." - Jim Rohn
Thanks!
Unfortunately for me my setup only comes up once a day and even then there’s a time slot to take it, therefor even that one setup can’t be taken every day:/
I trade a fairly mechanical system on the YM that I'm too lazy to figure out how to automate, win rate is about 45%...I would say the setup occurs probably 10-20 times per month depending on volatility (I only trade during the first half hour and last half hour of the day)
18 setups...actually I don't like to call them setups because everything depends on context, however I guess everybody would say they are setups.
They do not happen everyday, there probably only a couple that happen systematically. I have them well organized and described in details so that I know them very specifically.
In the past I worked on developing exact stats and executions, as I wanted to trade like a robot.... and I wanted to be as precise as FuturesTrader71, however I never managed to.
Yeah sounds about like what I do - trade the first hour, 10-15 trades a month and aim for oprox 50%. I do find it frustrating at times when the daily setup doesn’t end up coming up and I have to sit out the day but I guess whatever works.
I usually just spend all the time that I'm sitting around either continuing to backtest this strat, or trying to find another one and backtesting it...I think I've just developed enough patience and faith in my strategy at this point that I no longer feel frustrated over when the setup isn't happening for the day lol
Yeah. Patients is key. It’s good to hear someone else is in the same ballpark of trades per month as I am (btw if you use TS or multicharts I can try to help for the automation if you’d like, although I’m far from an expert coder, I can get through with simpler things