Losing money consistently

Visaria said:
Better refer George Soros there quick then:

"George has a terrible batting average - it's below 50% and possibly even below 30% - but when he wins, it's a grand slam"

- Scott Bessent, former head of Soros Fund Management, London, quoted from Inside the House of Money by Drobny
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Mr Soros has a well-thought-out, thoroughly-tested, and consistently-profitable trading plan.
 
Visaria said:
Better refer George Soros there quick then:

"George has a terrible batting average - it's below 50% and possibly even below 30% - but when he wins, it's a grand slam"

- Scott Bessent, former head of Soros Fund Management, London, quoted from Inside the House of Money by Drobny
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Absolutely Visaria!

In fact, according to Stocks and Commodities Magazine, some of the most successful traders are perfectly happy (and are making good money) with a 30% average winning rate.
 
dbphoenix said:
Mr Soros has a well-thought-out, thoroughly-tested, and consistently-profitable trading plan.
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:confused:

But if he has a less than 30% win rate which is implied by the quote, he must then have streaks of 3 or more losses, which according to you means he does not have a thoroughly-tested, and consistently-profitable trading plan and therefore is trading the GA way!

:confused:
 
Actually, even if your win rate was a massive 80%, you would experience a sequence of 3 losses in a row on average, once in 125 trades!

:D
 
Visaria said:
But if he has a less than 30% win rate which is implied by the quote, he must then have streaks of 3 or more losses, which according to you means he does not have a thoroughly-tested, and consistently-profitable trading plan and therefore is trading the GA way!
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You're making assumptions with regard to winrate and consecutive losses that are not supported by the quote.

In any case, emulating George Soros is not likely the road to success unless one is extremely well-capitalized. "Elite" traders would do well to come up with something more rigorous than "hey, this looks like it's going to go up (down)."

If the OP wants to improve his results, I suggest he study Mark's posts (wrbtrader).
 
Don't have to make any assumptions. I can prove that someone actively trading with a 80% win rate will, at some point, have 3 consecutive losing trades. If that's the case, then someone (Soros?) with a less than 30% win rate is even more likely to have 3 losers in a row.
 
xelite777 said:
...or you have no idea how to answer Visaria's (right on the money) comment, perhaps?
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Unless someone posts a trading plan, it's all theoretical, so what's the point?

As for the winrate with 3 losers in a row, that comes to a winrate of 25%.
 
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