Just came across this thread n found it useful. On this particular post, I sincerely believe u hv really nailed it down to what a trader must accept n apply for long term application n consistency n really hope that most fxfcty members can read this post.
Congrats n keep up the good work!
Congrats n keep up the good work!
DislikedA little bit about systems, probability and expectations...
A very good reason why new traders fail to make any money, and indeed lose money, is the search for the so called holy grail, that elusive system that never loses and always wins. I used to do it myself all the time, try out a system and after 2 wins, 2 break evens and 3 losses I would determine that it was no good and go on to the next one. Experienced traders of course know that if your system is expected to give you a 40% strike rate at 2:1 risk/reward that is sufficient to make money....Ignored