I have been doing some reading on what’s it’s like to be on the other side of the camps, the Short Traders specifically on what percent of day traders are successful?
Nobody knows the exact %, but according to insiders who trade, it’s probably closes between 1-5%. If you are not mentally and emotionally prepared to lose money, you will never make money and this is why 95% are not successful. You can NOT be afraid to lose money.
Most associate losing with failure. They equate success to winning more trades than losing trades. They ignore what matters most; the size of the wins, not the frequency of the wins. A trader can win 1/3 of their trades and make millions, if they know what they are doing. They need to follow and understand a simple formula.
(avg win RM) x (win %) must be greater than (avg loss RM) x (lose %)
Your goal is to increase your win amount, not win % and reduce your loss amount, not your lose frequency. If you make 10 trades and lose RM 1 on 8 of those trades, you only need to make RM 4 on the other 2 trades to break even. You could lose 80% or not lose any money (ignoring fees obviously).
There are about 250 trading days in the year. Since Armada will reach one of its peak towards the end of this year, you only have about 20 trading days on your side to make it happen. Taking the above figure as an assumption, assuming you make RM 10,000 a day average, that is RM 200,000 for the next coming months, provided you win every day. Although this is hypothetical, this doesn’t sound like much considering 95% of these traders lose money.
Hence, you actually have two choices:
1. Come and join us to and win graciously with Armada's momentum
or
2. Continue to remain as a short trader and face the potential challenge as written above
Chill bros, let's focus on facts that is related to ARMADA. OPEC+ is meeting next week on Mon.. it is expected that OPEC+ will probably agree to delay its planned 2 million bpd January 2021 production ramp-up for 3 months in order to curtail output as the optimal near-term action to support oil price
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
Mikecyc
45,873 posts
Posted by Mikecyc > 2020-11-27 14:36 |
Post removed.Why?