A story that’s been told before, but if you don’t heed the message, then one more time won’t hurt. You can make it in this game with only a 30% success rate, depending on your willingness to stop losses quickly. 3 wins out of 10 trades. But what happens when those 7 losses are back to back to back. Let’s add some more stress to that equation. Suppose you only find 3 or 4 decent trades a week. Now that 7 trade losing streak is also a 2 week losing streak. Do you have faith enough in your system that the next 3 trades are going to be profitable? What if your 30% comes from having 20 trades? 30 trades? Even the best have these kinds of losing streaks. Some of them even blow their accounts trying to chase the wins. You have 2 wolves. Which wolf do you feed? The negative wolf that tells you the market is making a fool of you? The wolf that tells you that you’re not cut out for this business? To leave it to the ‘winners’? Or do you feed the wolf that knows that 30% is what it is, no matter how many trades? The wolf that knows the books you’ve read, classes you’ve taken, mentors you’ve talked to, and knows this game is about you versus you? That wolf that wants you to succeed. Whichever wolf you decide to feed will grow and grow over time, until it is the only wolf standing. Trade well.
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