There are times when you can be in the 'zone', when W:L hits higher then 80%. And that doesn't imply holding through drawdowns intraday. Your literally riding the waves, on both sides of the trade. Then out of the blue a huge order gaps down your position, then trying to be perfect prevents you from exiting the trade as you should. Then a 30% return on equity in 24hrs turns into 16% or 4%, when the trigger is finally pulled to exit. So for some people trying to win is more important psychologically then trying to make money. This is one of the major impediments to a trader early on. And usually the orderflow probability dictates is directionally oriented. Meaning if your up a significant amount in a session and most of it was from being long, then as the session progresses one has to switch to directional trading versus both sides, to minimize smack downs.
I hate losing money so winning, (being right), is meaningless to me, unless it means I am making money. I ascribe to the old adage. Ride your winners, cut your losers short. I meditate it like it's the bible. Sometimes I screw up. (But I screw up small) and when I luck up and my strategy is right... I ride it for all it's worth. Lot better than what I was doing in the mid to late 90's... LOL. Had to lose it all to learn.... Since then, I have developed an aversion to losing money. so for me, making money is the most important thing. And yes, you should trade for success. Success attracts money. Bottom line.
So true, so true. The afraid to losing thing. Whew!!! I let that bug bite me for a spell. Made me trigger shy. I'd see moves and sit there not getting on board cuz I was SCARED that I might lose some money. Then one day, I looked at myself and said... Stop being scared.. JUST TRADE!!!!! I had rules, blah blah blah!!!! I was so scared to take a loss, i igged my rules. nevermind that my actual win/loss profit ratio was 4:1. I was scared. Cant be afraid to lose. In trading, in business, in life.....
So true so true. I have lost more business than I can think of, but the 4 that remained and are profitable were worth all the losers. Adaptation.... You make opportunities.... Seek them out like a guided missile. if you miss, fire off another shot.... eventually you will hit the target and all the missed missiles wont matter.
scatterbombs...there is the answer....If Bahgdad were not already flat...it would have been... uhhh..errr..i mean basket-trading...