Re: Am I getting it wrong ???
Its possible to be profitable with a poor system, as long as it gives you a slight statistical edge (e.g. 51 winners out of every 100) but your money management must be very strong. Good money management will ensure you don't get wiped out if your 49 losers all come in a sequence before your 51 winners.
Don't use a system until you have backtested it over 100 trades. If you would not be profitable (in pips, not just % of winners against losers), don't even put on one trade with that system. Refine it, backtest again, refine it again, backetest it again. Then practice with tiny amounts of real capital. Make sure you know what the market will (probably) do and what you (definitely) will do about it.
Think about the hours of practice a concert pianist puts in for the sake of a 2 hour performance. he doesn't start to prasctice live on stage. |