KP, thanks for the reply, a nice reasoned debate - which is more than we get from some. My sarcasm was not aimed at yourself but the other attempt at an answer.
Now, onto the subject.
firstly you didnt hone your response down to the 'retail trader' but i can accept that on this board it's what you meant.
here's what i mean by you dont know what you dont know.
I know and work with one trader who works from home using arb strategies on oanda of all places - he makes around 150% on his account a month using this. he trades around 30 times a day per pair and plays two pairs and his hit rate is 97% win / loss.
Its automated and causes no stress - his biggest losing day to date is 13 pips
However i do take your point 'generally speaking' that traders stand a better chance taking fewer trades but isn't that just because they lose less times over a longer timeframe?
I do not believe that your statement that a setup which occurs 5 times a week is any more probable than a setup which happens 15 times a day - probability is probability no matter what thye timeframe and a system with say a 55% w/l ration will win 55% of the time over a month or a day.
Your advice for people to concentrate on the process is also good for learning traders (arent we all) however discipline and a steel determination to carry out your plan is the most important attribute in my book.
This next one may knock you for six.
My number one rule when trading is:
NEVER TAKE A PROFIT
we may open up that can of worms on a different thread if you like and i'm sure you will like that discussion.
back to trading frequency though. I do not believe that the frequency of a trade makes any difference in the success / failure of a trader as long as the trades are applied with discipline and according to the rules the trader subscribes to.
for example - lets talk about technical setups.
I believe that a 4 hour technical setup will work just as well on a 5 min chart. - just that it will happen more often and will produce smaller winners. on the upside it needs smaller stops and has smaller losses than the same method on a 4hour chart.
the system is the same - only the frequency different.
when it comes to the 1 min chart it tends to be the spread that matters - pointless taking a 60 min trade that averages 10 pips per trade onto a 1 min chart as the ratio will be less than 2 pips per trade and the spread eats it.
sensible opinions welcome
