I am learning that success in Forex has more to do with good money/trade management than skill in reading charts. Prove me wrong!
Too much time is wasted on trying to find a winning trading strategy. The Forex market is dynamic, and therefore, what works today may not work a year from now. And then you are back to the drawing board, trying to find another winning trading strategy that will eventually fail over time.
I think it is better to just focus on mastering money/trade management, and keep your trading strategy simple. Accept your losses and move on to the next trade. If your money management is good, then you can still end up being ahead at the end of the year with a win rate of 50% or less.
The people making bold claims about having a win rate above 70% are questionable. I think these people are mostly speaking falsehoods.
Too much time is wasted on trying to find a winning trading strategy. The Forex market is dynamic, and therefore, what works today may not work a year from now. And then you are back to the drawing board, trying to find another winning trading strategy that will eventually fail over time.
I think it is better to just focus on mastering money/trade management, and keep your trading strategy simple. Accept your losses and move on to the next trade. If your money management is good, then you can still end up being ahead at the end of the year with a win rate of 50% or less.
The people making bold claims about having a win rate above 70% are questionable. I think these people are mostly speaking falsehoods.
You don't know because you don't ask.