topgun,
whats up buddy, i use to be like you, thinking i had to have a high percentage rate, then i read the market wizards book by jack schwager and the last paragraph on page 166 changed my trading life forever ( interview with mark minervini), most of the worlds most successful traders win rate are between 35 to 50%, thats a fact, they are not successful because of the accuracy of there trades but are successful because the size of there wins far exceed there losses, the faster you can devolope a system around the golden rule of trading the faster you'll be profitable, high win percentage does not mean a thing if you cant wrap your brain around position sizing...yes, i compound my trades, my stops are based on my indicator when to get out and they are usually 10 pips or so that i lose, but my winners in comparison are HUGE because i scale into the trades as well, sometimes i feel like i am cheating the most important thing right now for you to understand is the golden rule of trading and to get mentally tough for a few small losses in a row that your going to take, dr. van tharp has impacted my trading immensely and i would recommend you start to read his books and get a real grasp on how the worlds best traders trade....heres the link to a great book that i have by van tharp......phorex phreak
http://www.iitm.com/Definitive-Guide...ion-Sizing.htm
whats up buddy, i use to be like you, thinking i had to have a high percentage rate, then i read the market wizards book by jack schwager and the last paragraph on page 166 changed my trading life forever ( interview with mark minervini), most of the worlds most successful traders win rate are between 35 to 50%, thats a fact, they are not successful because of the accuracy of there trades but are successful because the size of there wins far exceed there losses, the faster you can devolope a system around the golden rule of trading the faster you'll be profitable, high win percentage does not mean a thing if you cant wrap your brain around position sizing...yes, i compound my trades, my stops are based on my indicator when to get out and they are usually 10 pips or so that i lose, but my winners in comparison are HUGE because i scale into the trades as well, sometimes i feel like i am cheating the most important thing right now for you to understand is the golden rule of trading and to get mentally tough for a few small losses in a row that your going to take, dr. van tharp has impacted my trading immensely and i would recommend you start to read his books and get a real grasp on how the worlds best traders trade....heres the link to a great book that i have by van tharp......phorex phreak
http://www.iitm.com/Definitive-Guide...ion-Sizing.htm
Dislikedtiago,
Thanks for the advice. Or maybe I should say thanks for reminding me of something that I already knew but had gotten away from. The thing that I lose sight of from time to time -the most important thing in trading - is the psychological side of trading (discipline) and money mangement as well. Sometimes I get too focused on the system itself and end up forgetting that most important 95% part of trading.
Also, it's motivational to me to see that you only have a 50% success rate but yet you are very successful because your money mangement...Ignored
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