Forum Archive Index - January 2004

["Woody" <solarmax@optusnet.com.au>]

I am and have been a student of Statistics and Probability. Now the Law of probability states that ' If an action is played out consistantly the outcome will eventually be 50/50. Toss a coin enough times and the outcome will eventually be 50% heads and 50% tails. This is why Casino's put limits on their tables. If you continually doubled up on say red or black you would eventually win. Now you might win having invested $5000 or it might take $5,000,000 you will win,if you have enough money to invest.

It is the same with Systems, Pick one out of the plethora of guru's that abound, or create you own. What ever you do you MUST believe in your system ( whether its a coin toss, reading the entrails of a goat or following the rules of WD Gann ) AND you MUST trade your system consistantly, you will win at least 50% of the time, now with good money management that cuts your losses sharply on the 50% loss side and lets your profits run on the 50% Profit side you should make a nice living trading. Not many traders even achieve 50% winnng trades, most lose. What ever your poison STICK TO IT!

My system works for me, it would not work for others. It has taken many hours of research, pain and pleasure to create and I use it 100% I do not look at any other method. Plan your trade and Trade your plan. If you do so and if you are a good person life will shine upon you.

 

God Bless Woody