Often asked: Do we have a track record?
Yes, we have an excellent track record… although I have not looked at it recently, I would peg it at 98.8%.
No, it should not mean much to you. It could be 100% in the last 30 days, 95% in the last 60 days or 98.8% in the last 90 days.
There are many factors that affect our (or anyone’s) track record. To name a few:
– the stats on that record would change depending on any adjustments to our methodology. It changes slightly depending on market conditions, so we’re not always comparing the same thing.
– depends what you consider ‘success’. Many outfits think that a 1 cent gain is success; we don’t. We believe success is what we determined in advance that we’re aiming for… 5%, 6%, 6 cents, whatever.
– many traders do much better than us, and many do much worse. Your success is irrelevant of what we do.
– sometimes ‘success’ can be a monetary loss. We may execute bad trades on purpose (on paper) to demonstrate repair techniques. When we cut a trade loose and turns out to be the right move, it’s a success.
– we do not trade necessarily every day. After doing this for many years, we have no pressing need to earn income on a daily basis, especially as we also earn income from teaching.
– our success does not mean your success. We all have different risk tolerances, capitalizations, understanding of our system and even interpretation of indicators/news. Everyone will be different.
– we stopped showing our success rates because it was misleading. Many people thought our highly successful trading was an illusion when in fact, it was very real. We detest our integrity being questioned.
– we have been trading before a live audience for over 10 years. If we were not successful, we certainly would not still be doing it. Many have been with us for years in this capacity.
– some people may think that a 98.8% success rate is too risky and may continue looking elsewhere. Frankly, I have not seen anything that comes close to what we do.
– If you are looking for 100% success and find someone making that claim, rest assured, they are lying. No trader is ever 100% successful, 100% of the time. No one
Success to some may be failure to others. I have seen traders ecstatic over a 2% gain whereas others consider a 7% a dismal failure.
How do YOU measure success? A monetary gain, overall financial freedom or time to pursue other interests?
Head Trader, DayTradeSPY