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The high % win rate appeals because we are brought up as being told right is better than wrong, a high grade at school is better than a low grade. Our culture dictates that those that who are right more often are the rewarded ones when we go to work. Do your homework, get high grades, you'll go to uni, get good marks, you'll get a great job, get a great career etc etc.

This is why the promo's advocate high % win rates - because they are trying to appeal to how we have been brought up.

Trading doesn't operate like that. You can have a 90% win rate and still be a losing trader. This is where so many people fall over. They spend days, weeks, months, years and lifetimes trying to find the perfect winning system and they simply don't understand WHY profits are made in the markets. They buy countless books, go to numerous seminars and eventually resort to ridiculously priced seminars thinking that the Holy Grail exists just around the corner. The WHY has nothing to do with the win rate. The WHY is the basic maths behind expectancy. The Holy Grail of trading is partly understanding that concept. The other parts of success relate to the JOURNEY of trading, protecting one's capital and a few other features.

People carry on about all soughts of things; 50% retracements, weekly pivot highs, monthly lows, out of sample, in sample, backtesting, forward testing, Elliott Waves, Fib levels, RSI, MAE, blah blah blah. But once you truly understand how profits are made and how they come about, the less you need to backtest, the less you need to read, the less you need to do a lot of things. You have turned the corner. You can get on with the job of creating a positive expectancy that suits YOU and in turn makes some profits.

I would say lindsayf that you have taken a very significant step in your trading career with this realization, and one that many don't ever get.

<blockquote data-quote="Nick Radge" data-source="post: 394622" data-attributes="member: 2295">The high % win rate appeals because we are brought up as being told right is better than wrong, a high grade at school is better than a low grade. Our culture dictates that those that who are right more often are the rewarded ones when we go to work. Do your homework, get high grades, you&#039;ll go to uni, get good marks, you&#039;ll get a great job, get a great career etc etc. This is why the promo&#039;s advocate high % win rates - because they are trying to appeal to how we have been brought up.Trading doesn&#039;t operate like that. You can have a 90% win rate and still be a losing trader. This is where so many people fall over. They spend days, weeks, months, years and lifetimes trying to find the perfect winning system and they simply don&#039;t understand WHY profits are made in the markets. They buy countless books, go to numerous seminars and eventually resort to ridiculously priced seminars thinking that the Holy Grail exists just around the corner. The WHY has nothing to do with the win rate. The WHY is the basic maths behind expectancy. The Holy Grail of trading is partly understanding that concept. The other parts of success relate to the JOURNEY of trading, protecting one&#039;s capital and a few other features. People carry on about all soughts of things; 50% retracements, weekly pivot highs, monthly lows, out of sample, in sample, backtesting, forward testing, Elliott Waves, Fib levels, RSI, MAE, blah blah blah. But once you truly understand how profits are made and how they come about, the less you need to backtest, the less you need to read, the less you need to do a lot of things. You have turned the corner. You can get on with the job of creating a positive expectancy that suits YOU and in turn makes some profits.I would say lindsayf that you have taken a very significant step in your trading career with this realization, and one that many don&#039;t ever get.</blockquote>

[QUOTE="Nick Radge, post: 394622, member: 2295"] The high % win rate appeals because we are brought up as being told right is better than wrong, a high grade at school is better than a low grade. Our culture dictates that those that who are right more often are the rewarded ones when we go to work. Do your homework, get high grades, you'll go to uni, get good marks, you'll get a great job, get a great career etc etc. This is why the promo's advocate high % win rates - because they are trying to appeal to how we have been brought up. Trading doesn't operate like that. You can have a 90% win rate and still be a losing trader. This is where so many people fall over. They spend days, weeks, months, years and lifetimes trying to find the perfect winning system and they simply don't understand [B]WHY[/B] profits are made in the markets. They buy countless books, go to numerous seminars and eventually resort to ridiculously priced seminars thinking that the Holy Grail exists just around the corner. The [B]WHY[/B] has nothing to do with the win rate. The [B]WHY[/B] is the basic maths behind expectancy. The Holy Grail of trading is partly understanding that concept. The other parts of success relate to the JOURNEY of trading, protecting one's capital and a few other features. People carry on about all soughts of things; 50% retracements, weekly pivot highs, monthly lows, out of sample, in sample, backtesting, forward testing, Elliott Waves, Fib levels, RSI, MAE, blah blah blah. But once you truly understand how profits are made and how they come about, the less you need to backtest, the less you need to read, the less you need to do a lot of things. You have turned the corner. You can get on with the job of creating a positive expectancy that suits [B]YOU[/B] and in turn makes some profits. I would say lindsayf that you have taken a very significant step in your trading career with this realization, and one that many don't ever get. [/QUOTE]

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