Thought of the Day…

” One common adage about trading is that is completely wrongheaded is : You can’t go broke trading profits. That’s precisely how many traders do go broke.

While amateurs go broke by taking large losses, professionals go broke by taking small profits. The problem in a nutshell is that human nature does not operate to maximize gain but rather to maximize the chances of gain. The desire to maximize the number of winning trades( or minimize the number of losing trades) works against the trader.

The success rate of trades is the least important performance statistic and may even be inversely related to performance.”

– William Eckhardt

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