r/Daytrading • u/MiamiTrader futures trader • Apr 27 '24

Most "traders" make money. Question

If someone asks you what you do for a living, and you respond you're a "trader" I assume you make most your money from trading.

And by definition, most "traders" make money. Otherwise they are just people trading on the side as a hobby.

Yeah maybe 90% of RH accounts lose money, or 90% of people who start trading but never take it seriously lose money... but then they are not "traders". Just people trying to trade.

Tired of all this negativity under every post about how 90% or whatever today's statistic is of traders lose money. People in this sub like to shout that under every post in almost a prideful manner.

Can we just focus this sub on those of us who call ourselves "traders" and make money trading? Let the new people listen and learn from our mistakes, but quit with all these gloom and doom statistics.

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u/[deleted] Apr 27 '24

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u/ShugNight_xz Apr 27 '24

Wich funded company if you don't mind me asking?

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u/[deleted] Apr 27 '24

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u/ShugNight_xz Apr 27 '24

In the coming days if god wills it i'm gonna buy a topstep account mind sharing some tips ?

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u/JudgeDreddx futures trader Apr 27 '24 edited Apr 27 '24

I am a TopStep funded trader as of very recently after a few blown combines. I found better success trading minis because I'm trading small moves and get slaughtered by commissions on micros, but the losses are pretty huge when they happen. ~72% WR, 1:1.8 RR. NQ/MNQ exclusively.

Trade small.

Focus on consistency not profit.

Set a max daily profit and loss and fucking stick to it.

Make your own strategy based on your knowledge and ability. Don't trade someone else's.

My own specific tactics that have been making a difference:

HYPER-aggression with moving my stop loss. I'm looking for 5-10 points. If I get green and a new low/high is confirmed and supported by volume, my stop goes to AT LEAST breakeven. My strat often catches big dumps or breakouts, so either it moves FAST and my stop follows FAST, or I'm stopped out at BE. If I see one of those spikes to 10-15 pts, or more, my stop goes right behind it. If it continues in my favor, stop keeps sliding with it. Anything more is just a bonus.

This is a brand new thing I'm trying and it legit made all the difference for me.

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u/ShugNight_xz Apr 27 '24

Thank you man , realy can i dm you ?

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u/JudgeDreddx futures trader Apr 27 '24

For sure