in one's system and that means also that you do not think in terms of individual trades but in terms of statistics. As Stalin once said: 'the death of an individual is a tragedy, but the death of millions is statistics'. With trading it's pretty much the way around, individual trades don't matter, what matters is their cumulative result. Is it easy to believe in one's system? No, but without that you will never succeed.
Wow, a quote from Stalin and a quote from Einstein in the same post. Was the Curtain separating the Soviet Union from Western Europe ironic?
Stalin is not a product of the Soviet Union and Einstein is not a product of Western Europe. Both are products of the same human race. Don't forget that Hitler was Western European. That did not make him much different than Stalin, did it? Yes, the curtain was ironic.
True - if all you ever do is trade that way, you can certainly make a decent living (~100k - 250k/year.) But I want MUCH MORE - for that, bring your cojones in tact. nitro
That's simply not true at all. Do you honestly think that traders making, for example, greater than $500k (or insert any figure) are doing it simply by taking on massive risks do you?
I do not know. I am confident that if you want to turn 100K into 1M+, IMHO, you are risking more than 1% on each trade. If however, you are using 2M in BP, then making 50% return on that using the 1% rule is not out of the question. Since I am retail, I am restricted by 4:1 buying power. People that work at prop firms are far more likely to make 1M+ using the 1% rule, since in effect, their buying power is "infinite".... I am only speaking from my experience and what I have been privy to. nitro