Portal
 Index
 Memberlist
 Profile
 FAQ
 Search
Social bookmarking

Social bookmarking digg  Social bookmarking delicious  Social bookmarking reddit  Social bookmarking stumbleupon  Social bookmarking slashdot  Social bookmarking yahoo  Social bookmarking google  Social bookmarking blogmarks  Social bookmarking live      

Bookmark and share the address of forexgreenland - Forex forum,Forex training, Forex signals, Forex mgt accts on your social bookmarking website

Bookmark and share the address of Forexgreenland - Forex forum,Forex training, Forex signals, Forex managed accounts on your social bookmarking website


What’s your winning probability?

View previous topic View next topic Go down

What’s your winning probability?

Post by asiaforexmentor on Mon Dec 19, 2011 10:05 am

Forex Coach Ezekiel Chew ask: What’s your winning probability?


FOREX COACH Ezekiel Chew ask: What’s your Winning Probability?
Do you have the answer to this question?
If you don’t, then probably you should NOT even trade.
It is a very simple question that you should ask yourself before you take every trade.
“WHAT IS MY WINNING PROBABILITY FOR THIS TRADE? “
If it is anything lesser than 60%, skip the trade.
You see it makes no sense at all for you to take a trade that has lesser than a 60% chance of winning.
If it’s lesser than a 50% chance of winning, why even trade?
You are bound to lose on that trade right?
If it is a 50% chance of winning. You are betting on your luck.
That’s gambling, that is NOT trading.
If it is a 60% or higher chance of winning. And if you only take trades that have a 60% or higher chance of winning.
Where do you think your account size will go? UP of course.
Forex Coach Ezekiel Chew ask: What’s your winning probability?

Having a 60% and higher winning probability for that trade means you have an edge over the market.
You SHOULD consistently take trades that are over 60% chance of winning.
But if on occasions where you take a trade that is a 50% chance of winning.
You will spoil your entire game and your entire trading plan.
That is because you are adding a random variable to your trades.
And these random variables will disrupt your account growth.
For example:
Trader A) Out of 20 trades, he take trades that are only 60% or higher winning probability.
Trader B) Out of 20 trades, he takes 10 trades that are of 60% or higher winning probability and 10 trades of lesser than 60% winning probability.
Trader C) Out of 20 trades, he doesn’t care about the winning probability. He just take trades when he likes it or just based on his gut feel.
Forex Coach Ezekiel Chew ask: What’s your winning probability?

Which trader do you think has a better chance of growing his forex account?
Trader A of course!
Which trader trades most like you?
If you are at trader B or trader C stage, you should stop your trading now.
And reflect on this.
This vital question is something that you must ask yourself the next time you trade.
“What is my winning probability for this trade?”
Forex Coach: Ezekiel Chew
Asia #1 Forex Mentor
[You must be registered and logged in to see this link.]
avatar
asiaforexmentor

Male
Number of posts : 72
Location : Singapore
Reputation : 1
Points : 216
Registration date : 2011-04-01

View user profile

Back to top Go down

View previous topic View next topic Back to top

- Similar topics

 
Permissions in this forum:
You cannot reply to topics in this forum