Forex market useful or harmful food

The Authority’ on Price Action Trading. In 2016, Nial won the Million Forex market useful or harmful food Trader Competition.

For example, being right a lot at your 9 to 5 job will probably get you a promotion in time, whereas being wrong most of the time probably will not. I get a lot of emails from traders asking about win rates and what the overall winning percentage is of my price action strategies. The main takeaway from the spreadsheet above is that a high winning percentage combined with even one or two draw-downs that are much larger than your winners, will kill your trading account, not to mention your trading mindset and overall confidence. Now that you’ve seen how you can actually lose money by winning most of your trades, let’s look at how you can make money by losing most of your trades, to further hammer-home the point that winning percentages are irrelevant. The main takeaway from the spreadsheet above is that a low winning percentage can still make you a significant amount of money if you are managing your losers consistently and manage to make 2 times your risk or more on your winners. Real-world examples of why winning percentage is irrelevant In order to see how this concept of winning percentages being irrelevant plays out in real-world trading scenarios, let’s look at some examples of trades that occurred over the last few months: In the example below, a pin bar signal formed showing rejection of support within the recent GBPJPY uptrend. In the example below, we see a counter-trend pin bar setup on the GBPUSD that would have resulted in a 1R loss.