Success can be defined in many ways but in trading Success is defined simply as follows:
Trading Success is the process of consistently following a trading plan that gives you statistical edge in the market.
So success is not simply hitting winning trades or avoiding losing trades. Trading success is a process. Its not a one time event. Trading success is considered a success only if there is consistency in it.
One thing is for sure, its not about how many trades you win against the number of trades you lose. Its about consistently applying a trading plan that will allow you to win consistently. And winning consistently means that the total outcome at the end of a certain number of trades is a positive number.
You may have a strategy with 60% losers? So how do you make money if you lose 60% of the time? Well that's pretty simple. When you win you win big when you lose you lose only a small amount. More on this inside our Members Only Forum.