Quote:
|
Originally Posted by ezekiel
.........the difficult part is being disciplined enough to not stray from the system and patient enough to stick with it after a few losses. There is NO system that is 100% accurate ....
Good luck  (it will take work) |
Well said, but not easy to follow unless you have a systematic way to handle those losses. Here's my 2 cents worth:
The most important thing to do is to select a trading system with at least a 60% batting average, not less. Don't trust the word of the developer. Verify this batting average by your own
demo trading. You will have months of tedious, boring paperwork. If you don't come up with 60%, choose another system and start testing again...etc. Please bear with it, because it is will be much easier to be disciplined if you really know you got something that really works.
The next step is to learn the Essex System of betting. It uses a bit of strange arithmetic, but not difficult. I first came across this idea many years ago when Peter Eliades sold his stock trading system. It has nothing to do with Ryan Jones' position sizing, or martingaling, which can wipe out your account after 5 or 6 consecutive losses.
With a 60% batting average and the Essex System you now have a handle on those inevitable losses. Discipline and patience will come easily. You will relax and even enjoy the losses, knowing well in advance that the betting cycle will come to an end sooner or later. And when it does, you will profit handsomely.