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Strategies & Market Trends : DAYTRADING Fundamentals
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To: bajasurf who wrote (2610)8/10/1999 9:59:00 AM
From: Eric P  Read Replies (1) of 18137
 
Probabilities, probabilities, probabilities, thats all that matters.

I couldn't agree more. Knowing the probabilities give you several very important advantages.

First, it gives you the confidence to follow your plan without hesitation. Why second guess your 'system' when you know it will be profitable over the long run.

Second, it reinforces the fact that no trade is a sure thing. It is "okay" to have losing trades. In fact, it is expected. The probabilities demand it. No system is perfect.

Finally, without a system or methodology in which you have confidence, you will be more inclined to trade haphazardly. You will be more likely to trade out of boredom or due to the emotion of the moment. You will be less likely to wait for high probability entry points before jumping into a position.

System trading is not for everyone. But for those who follow a system, there are many substantial benefits.

-Eric
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