A trading system that has more losses than wins will make a profit if you win more per trade than you lose. Don't be afraid of losses, just keep them small.
I believe that having very strict money management rules allows us to be more confident with our trading because this will let us know that even if our set-ups are not that good, we still will not blow our account.
%% USE discretion; even if you are very sure you its a uptrendbull maket/sideways slop chop\ or bear move[Bear move is not a bear market/200dma helps. ] Example of discretion; i know IBD founder had made many millions in funds, data, trading/investing; but he says ''i dont know why people use ETFs/ i can make more money with stocks''. I do, i can lose less with ETFs , so most likely make more money in long run. NOT a prediction , not bank insured........................................................................... Good, SOmarkets, thanks.
Thanks for sharing this. As I looked up this book by Robert Carver and then another one of his books, then went to his website, I found a couple interesting things. He has a blog with a page on Systems Building which contains some thoughts on using rules. https://qoppac.blogspot.com/search/label/Systems building If you read it carefully, there is a link posted on that page to another thread he maintains.
There is no ONE thing that garanteed to work in trading, the best odd you can get in each trade is probably no better than 75%.
Yep. I was thinking in generalized terms. One set up that is guaranteed to work over time. Wasn't clear about that. Thanks. I agree.
EP 019: How to form the basis of a solid trading plan, and follow it with absolute discipline w/ @StuartMcPhee https://chatwithtraders.com/ep-019-stuart-mcphee/ I listened to this podcast today. I continue to struggle with impulsive trading and some of the things he said address this, especially right at 40:06. Have a Merry Christmas, everyone!