Leaderboard

You WILL be wrong....often... Being "right" all the time is NOT the goal. The goal is to understand that with a reliable strategy, the statistics/math favor you as a trader OVER TIME (REPITITIONS). In the world of trading you're either the gambler, or the casino. Your goal should be to identify/leverage a statistically predictable strategy/scenario (ie: "technicals"), then use said strategy to do the same thing over, and over, and over, and over again... If you flip a coin, for example, you have a 50/50 chance of hitting heads, versus tails.... on any given flip.. If you demand $1 for every time you're right, and are willing to pay $1 for every time you're wrong -- statistically, you'll end up break even. If, however, you demand $2 for every time you're right, and are willing to pay $1 every time you're wrong -- statistically, you'll end up profitable... Example with 10 flips: flip 1: you lose $1 flip 2: you lose $1 flip 3: you lose $1 flip 4: you lose $1 flip 5: you lose $1 flip 6: you win $2 flip 7: you win $2 flip 8: you win $2 flip 9: you win $2 flip 10: you win $2 In this example, you were right 50% of the time (as statistically expected). Yet you walk away profitable: 5 flips of Losses = $5 5 flips of Gains = $10 -- --- -- --- - Equation: $10-$5 = $5 (in profits). - -- -- -- --- - -- You were "right" 50% of the time, yet you still made money... THIS IS WHAT TRADING "TECHNICALS" IS ALL ABOUT. Your goal is to identify a pattern/indicator/set of variables that is statistically predictable, THEN -- apply a reward/risk scenario to said situation, and leverage math/statistics to your advantage. In essence, you're making yourself the CASINO, not the GAMBLER... In the aforementioned example (the flipping a coin example), anything greater than a 1:1 ratio is a "good" reward/risk scenario (because the odds of you "winning" vs "losing" is 50/50. I used a 2:1 scenario for simplicity. I used to have a pretty big YouTube channel discussing concepts such as this. I don't like "social media," however, so it's always been hit & miss (with my content). I do have a few videos that are still up on Youtube (the newest channel). You're welcomed to peruse a few of them, and ask any questions desired. Here is a link to a more popular video: In any case... Just maintain focus. Andrew and his crew are VERY GOOD traders. My journey essentially began here (years ago), and I will forever be grateful for the leadership & mentoring Andrew provided. Keep your head in the game...accept the FACT that you will go through ups & downs...and with the right amount of perseverance, dedication, and DISCIPLINE -- you'll come out ahead in the end... GL; STAY GREEN!