It is in our nature to want to be correct, you cannot win on every trade and this is what traders find hard to accept.
It is important to understand how many trades on average you are likely to lose before you get a winning trade to help deal with the losses. I have learnt to enjoy losing trades because I know the probability of the next trade being a winner is enhanced.
Win percentage however is irrelevant. Most of the traders I know have a win percentage of no more than 70% and some as low as 30%. The 30% are still profitable sometimes even more so than the 70%.
It is important to understand the mechanics which allow you to make money whilst still losing.
Most don't have to learn to be losers, they already are as a result of their social conditioning. What we truly have to develop is how to be winners. It is a totally different way of being.
Losers and winners have a different view on losses. That view is what makes all the difference.
Losers create losses with occasional wins. Winners create winners with an occasional loss.
But how is the years of social conditioning undone?
But a good way to start is to start becoming aware of your response patterns. The chances are they will be same responses to an emotion in different situations. Giving your self more options is a good way as it gets you thinking in a more adaptive mindset as opposed to old responses that may no longer serve you well.
Couldn't agree more. Win ratio is pretty irrelevant and that's what I was trying to highlight. If I have a system that HISTORICALLY has proven to make profitible trades 90% of the time, that doesn't tell me with any certainty whether my next trade will be profitible or not.
That's not how any of this works. Trading is like a sport. You can't be a pessimist.
Right. Because you're OBVIOUSLY competent enough to tell people like it is.
Top trader making $700 in 10 trades and bragging about it online
Oh My God.
Thoughts/comments most welcome.
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