NexusFi: Find Your Edge


Home Menu

 





When can I call my self profitable ?


Discussion in Traders Hideout

Updated
      Top Posters
    1. looks_one DavidHP with 1 posts (0 thanks)
    2. looks_two Anagami with 1 posts (1 thanks)
    3. looks_3 deaddog with 1 posts (2 thanks)
    4. looks_4 kxmp with 1 posts (0 thanks)
      Best Posters
    1. looks_one glennts with 5 thanks per post
    2. looks_two AllSeeker with 4 thanks per post
    3. looks_3 tr8er with 4 thanks per post
    4. looks_4 chipwitch with 4 thanks per post
    1. trending_up 2,645 views
    2. thumb_up 26 thanks given
    3. group 10 followers
    1. forum 13 posts
    2. attach_file 0 attachments




 
Search this Thread

When can I call my self profitable ?

  #11 (permalink)
RedMoney
Seattle, Washington USA
 
Posts: 8 since Apr 2022
Thanks Given: 0
Thanks Received: 0

a couple of months at least

Reply With Quote

Can you help answer these questions
from other members on NexusFi?
MC PL editor upgrade
MultiCharts
Option : Call and Put increase at same time ?
The Elite Circle
Trade idea based off three indicators.
Traders Hideout
Pivot Indicator like the old SwingTemp by Big Mike
NinjaTrader
Quantum physics & Trading dynamics
The Elite Circle
 
  #12 (permalink)
 Keab 
London UK
 
Experience: Intermediate
Platform: SierraChart/Prorealtime
Broker: Sierra Chart/prorealtime
Trading: SandP futures
Posts: 510 since Jul 2013
Thanks Given: 123
Thanks Received: 316


OG65 View Post
At which point does a trader qualify to receive the name of profitable?
what timeframe he needs to be profitable
1 Month
2 Months
6 Months
1 Year

is this a stupid question ? Can I call myself profitable when i am profitable for 1 month now?

Trading can go a bit overboard with philosophical musings and thoughts which tends to obscure people from seeing basic facts.
Trading is a business like any other that will give you a profit or loss each day/week/month. Just like owning a shop.

So how can you tell you are profitable? Work out all your outgoings that come from trading each month (computer equipment, software and data fees, rent or if working from home a basic electricity cost etc).
Then look at your profit/loss for that month. If you exceed your outgoings then you're a profitable trader.
Then the next question will be how profitable am I, can I maintain these profits, are they enough to sustain me, can I make more profits, what do I need to do to make more profit.

Reply With Quote
Thanked by:
  #13 (permalink)
 
glennts's Avatar
 glennts 
Corpus Christi, TX / Westcliffe, CO
 
Experience: Advanced
Platform: NinjaTrader
Broker: DDT / Rithmic / Kinetick / IQ
Trading: 6E, ES
Posts: 420 since Oct 2010
Thanks Given: 24
Thanks Received: 1,022


When paying your quarterly US Income Tax puts a smile on your face.

"If you don't want random outcomes, don't make random decisions."
Reply With Quote
Thanked by:
  #14 (permalink)
 
AllSeeker's Avatar
 AllSeeker 
Mumbai, India
Legendary Pratik_4Clover
 
Experience: Beginner
Platform: TradingView & ZerodhaKite
Trading: NIFTY, BANKNIFTY
Frequency: Daily
Duration: Minutes
Posts: 1,426 since Jan 2019
Thanks Given: 5,249
Thanks Received: 5,014

If you are having to pay tax due to making money by activity of trading you are profitable.


Month is too small of a timeframe, whole point is seeing if your strategy can handle different market conditions over long periods of time. Only then you have path of sustainable profitability.

Visit my NexusFi Trade Journal Reply With Quote
Thanked by:




Last Updated on June 28, 2022


© 2024 NexusFi™, s.a., All Rights Reserved.
Av Ricardo J. Alfaro, Century Tower, Panama City, Panama, Ph: +507 833-9432 (Panama and Intl), +1 888-312-3001 (USA and Canada)
All information is for educational use only and is not investment advice. There is a substantial risk of loss in trading commodity futures, stocks, options and foreign exchange products. Past performance is not indicative of future results.
About Us - Contact Us - Site Rules, Acceptable Use, and Terms and Conditions - Privacy Policy - Downloads - Top
no new posts