Home | Previous | Next Lesson This Lesson Can Be Printed See Instructions Below Why Day Trade the Futures Market?Which would you rather have, a strategy that is right 70% of the time and has an average profit of £110, or a strategy that is right 45% of the time and has an average profit of £26 ?
The odds of the casino showing a profit on the spin of the roulette wheel are 51.35% (19/36). Now if the casino could only spin the wheel once a day, it wouldn't be a great business, they would show a loss on nearly every other day and would make a very modest profit. On the other hand, if they can (as they do) spin the wheel once a minute, 10 hours a day, the casino will make a fortune and the odds of a losing day are negligible.
I think that we need to bring a similar mentality to trading. We do not need a system that has big average gains, we do not need a system that has a high percentage of profitable trades, we need a system that trades frequently and has an edge. Of course to implement such a strategy we need to be available to day trade and we need a market with very low costs. Malcolm Robinson ___________________________________
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