It’s not what happens to you, it’s how you react to what happens to you that determines success or failure.
Success In Trading
Success in trading is all aboutconsistencyand to achieve that we must follow the golden rules.
These are:
1 Only take thebest opportunities.
2 Always minimize risk. Taking only low risk opportunities is part of this.
3 Use good Money Management.
4 Have the discipline to follow these rules, especially the first one. It is all too easy to get over-confident and take anything you see. You soon lose your shirt that way. “Only the best is good enough for our trading!”is a good motto to follow. You can’t learn how to do it without doing it.
Saturday, March 21, 2009
Minimum Profit Objective & 10% Rule
MPO=(100-(win Rate))/Win Rate
For average $100 risked on average trade, skillfull trader realize about $10,000.0 in income per year.
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