I was sent a link today to an interesting trading method:
http://www.racingtraders.com/scalper
Basically what it involves is flipping a coin to decide whether to back or lay. If the price goes against you, you use your stop loss. If it goes the way you hope it will go, then you let it move a few ticks and then close the trade. The theory is that although you will lose as often as you win, on average when you win, you will make more than you lose when the price goes the 'wrong' way.
What does everyone think of this system?
Regards
Jeff
http://www.racingtraders.com/scalper
Basically what it involves is flipping a coin to decide whether to back or lay. If the price goes against you, you use your stop loss. If it goes the way you hope it will go, then you let it move a few ticks and then close the trade. The theory is that although you will lose as often as you win, on average when you win, you will make more than you lose when the price goes the 'wrong' way.
What does everyone think of this system?
Regards
Jeff