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Strategies & Market Trends : DAYTRADING Fundamentals
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To: Ephraim F. Moya who wrote (3219)8/23/1999 6:11:00 PM
From: Pete Mimmack  Read Replies (1) of 18137
 
EFM -

I'm new at this myself, but a key point made in several places seems to be that 50% winning trades is A-OK if you set your risk/reward parameters at 1:2 or 1:3. If you're making two or three times as much on each trade as you're losing, you'll be way ahead.

References include The Matrix at ISpec's site, a quote somewhere in the Pristine literature about a trader they know who sells at either +20% or -8% (i.e. 2.5:1), and a quote from Trader Vic. Vic points out that batting .300 - .400 is an excellent average in the majors, so as traders we shouldn't be thinking we need to hit .800 or .900. Hitting .500 is fine, as long as the winners return more.

Pete
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