Pick a stock or whatever market you like to trade. Pick a time frame. Make your trade in the middle of a price bar. (5 minute bars make your trade at 2 ½ minute into the bar) Flip a coin. Heads you go long, tail you go short. If you are in a loss position at the end of the bar. Sell. (Cut your loss short) If you are in a profit position at the end of the bar. Hold and place a stop at break even. Trail your stop below the previous bar. (Let your winners run) You can probably improve on this method buy going with the prevailing trend.
assuming no one on ET take trades flipping a coin, if you just have a long or short bias (based on whatever you want to look at - price, indicators etc), one can follow what you mentioned provided the wins are more than the small losses.
All speculative (i.e. profit-seeking) trading positions involve prediction - you are predicting that the asset you trade will turn out to have been mispriced, such that the expected win rate * payoff ratio of your repeated trades will, over time, lead to long-run profit above transactions costs. If you have no predictions about the market then you have no logical justification for increasing your risk by taking on trading positions. With no prediction, your expected long-run return from trades is zero minus transactions costs.