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Published August 4, 2021 Updated November 4, 2021
We’ve covered a number of concepts that may be new to you and that’s okay. What we get excited about is the idea of how simple and how “black and white” trading can be at its core. Trading the market successfully is all about understanding probabilities. Knowing your natural trading style helps you accept (and expect) the tradeoffs between wins and losses, size of wins compared to size of losses, and length of winning or losing streaks in as simple a market approach as Risk x to make y. We encourage you to watch the video below, download your own copy of our journal spreadsheet and then run through a few Chart Game exercises, carefully tracking your progress. After doing this, many of our students have expressed amazement that their results so closely match expectations. What they find is that having a base winning percentage provides a whole new confidence as they approach the markets.
Trading is more than finding a strategy that works. It’s also having the ability to know the profit and loss expectations for that strategy, and the confidence to follow that strategy especially during losing streaks.