In Trading, the STATISTICS show that smarts, experience, etc. are not the differentiating factor.
The BEST (most successful guys I know and work with) have winning %’s of less than 50%.. actually, the average is between 45-55% but the point is, basically, winning percentages don’t matter – so they might as well be a random event.
So, what does make a difference?
- CONVICTION in ideas
- INTERNAL CONFIDENCE
- TRUSTING YOURSELF
- GETTING BIG IN TRADES you believe in
- LETTING WINNERS RUN
- CUTTING LOSERS QUICKLY
- SWITCHING DIRECTIONS QUICKLY
These are many of the factors that allow some people to become monster traders over time. It’s not my opinion, just my observations.
Trade Well,
Dr Doug
