Advice from a Market Wizard*

*No, not me. Not yet, anyway.


"I don't think you can consistently be a winning trader if you're banking
on being right more than 50 percent of the time. You have to figure out
how to make money 20 to 30 percent of the time."

I posted this because a lot of the trolls on this site (real or bot) make it their mission to piss on
those of us who insist on getting a piece of the $6.6T forex pie. We are not doing this because
we think it is easy. We are doing this because we are trying to find and exploit the secrets that
govern this market; because, as Peter Crowns said,

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There are "secrets" of trading that are known to a few of us.

Source


And in order to discover and exploit these secrets to tapping the momentum of the market for
big price moves, we need to view the market with a different mind-set. We are not here to
hit a home run every single time we step up to the plate. The "Market Wizards" don't
expect that; we shouldn't, either.

So by all means, take your methods and tamper with them. Use them on different time frames.
Change the settings on your EMAs if you think that will help. Tinker with the formula just like
Howard Schultz tinkered with the first Starbucks to see what worked and what didn't.

But those people who are just here to sh#t on others--what good are you, exactly?

Its the matter of fact that all newbies like me always wants to be successful, each trade we take want it to be successful, and thus plays with it and running to the bubble of 100 percent success, IDK when we will learn bear the fact that we have to be right only for 20 30 or may be 50 percent right, use proper SL and go out of the market, I personally having issues with my profits trades, I have a problem to just exit the market with small profits.

As long as the profits are consistent enough to sustain over the long run, it really doesn't matter what your win % is, just personal preference. Peronsally, I like to stay in the 70-80% win rate with 2:1 or 3:1 R/R. I like to win.