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 high.
But that should not mean much to you. What you should be looking for is a viable system you can learn and use yourself, so you are not reliant on anyone else.
There are many factors that affect our (or anyone’s) track record. Here are but 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 are 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 do not show our success rates because it is misleading. Some people think they can simply emulate our trades and be winners every time.
– 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.
– frankly, if someone is trading, the last thing they are thinking about is transmitting their trades to others through email or text. They should be focused on their own trades.
– to me, this is the most successful trading I have done, but it may not be your style. Every trader needs to find their own niche.
– 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% profit a dismal failure.
How do YOU measure success? A monetary gain, overall financial freedom or time to pursue other interests? Let us know… we’d love to chat with you about it!
– Hugh Grossman, Head Trader, DayTradeSPY