Hi Everybody,It is said that up to 97% of amateur traders fail in this business, so why is that ? Well, after over 20 years in this business, the reason is simple (as I see it all the time). It is because amateurs want to be “right” more than they want to make money.
In other words, most amateurs just look for a high winning % of trades and have no understanding that this is not possible over time. And (this is the bit they never get) is that to make money over time you actually don’t need to have a high % of winners. The attached chart on the 3min ES form Friday is a great example, 2 winners and two loses, but good Profit “overall”.
I see this again and again, day after day, and I feel sad that most amateurs simply are unwilling to listen to experience and “think” they know better. So it is a sad fact that 97% of amateurs will just go on losing, because they are unwilling to listen and accept that the key to successful trading is keeping the losses small and Profits larger and NOT simply having a high % of winners......
This is where MTPredictor will help as it provides discipline to keep the losses small, and techniques to maximise the winners...... The rest (as they say) is now up to you.
Thanks, Steve
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