"how you handled that last trade, win or lose... Are we talking about the trade, or are we about talking personal traits and trade mechanics? It's only a question. Regarding trading, the laundry list of what (controllable things) can go wrong boils down to discipline. If that causes discomfort, than the knowing-doing gap is applicable... which leads back to discipline. If you just don't know, that's controllable. Learn. If you don't know that you don't know, well, in trading, that's a problem.
Trading is slow. And most people lack the patience to wait for their stock to do its thing. If you are buying low and selling high, your stock might go up in the near future, and it might not. We all want our stock to hurry up and go up so that we can flip it again, but that doesn't happen very often, at least not in my experience. Most stock has a pattern, for example it might open high, tank after the opening, and blow up in the afternoon or the after hours, so you need to be patient and wait for that, and setup your t/p in advance. Patience is a major part of day trading, and it's probably the reason for the failure rate, most people have the patience of a flea.
FWIW, on the trading pit where I used to work, the motto was, You're as good as your last quarter'. And there were all pro traders.
%% OK by me/ sounds like they meant 3 months measure+ not $ 00.25 lotto players. If some ones ''last trade'' breaks that person\ they simply proved the truth\ a lotto is a stupid tax on people that cant do math. Monthly ,quarter, yearly are common pro measures. Thanks.
This. PF wraps up winrate/payoff ratio into a single metric, and also gives you a good measure of system robustness.
why people won't accept this lol - because people want to be in control more than they want to make money. they will discard a profitable method because it does not fit their ego rather let the statistics dictate their method. over and over again nothing changes thank goodness.
Whats a good number to shoot for? Last week mine was 2.80 over 40 contracts traded, just trying to frame how good that is.