Why do 5% of Traders Win?

[RCG Trader]

Quote from Mysteron:

I'd say spotting opportunities that are developing and waiting for a high probability entry is important. WLT had an excessive range that day so a short entry at the right time and conditions, was likely to succeed.

Equivalent to the obvious statement: let winners run and cut loosers is the ability to take a look at one self and eliminate bad behaviour. Keep asking yourself 'what did I do wrong?', make a note of it and stop doing it.

lol, there is almost 100 pips profit on that chart, and you circle just one thing??

 

[Mysteron]

Quote from RCG Trader:

lol, there is almost 100 pips profit on that chart, and you circle just one thing??

LOL, you don't have any idea how I spotted that opportunity amongst the thousands of other charts I could have have looked at.

 

[athan00]

Quote from HATEtheRisk:

Nope.

I said stochastik, that is a special subject of statistics.

This has nothing to do with the indicator stochastics invented by george lane.

I was talking about statistics, where the subject calles stochastic is to predict future odds. Like in weather forcasting, this is for example used stochastic.

They are mostly correct in their forcasting, its the same in trading.

Got it.



Its not my fault, that george lane named this indicator stochastics, he could also have named it momentum average measure, or something like that.

This here is stochastic:

http://en.wikipedia.org/wiki/Stochastic

then comes combinatorics:

http://en.wikipedia.org/wiki/Combinatorics

after all fit into a bigger picture with statistics:

http://en.wikipedia.org/wiki/Statistics

Not to be confused with stochastic oscillators in technical analysis.

Hi HTR,

i just read this post about stochastics. I allways though you meant the indicator! lol

Anyway i had a look on wikipedia and other google links about stochasticks. Thats really pure maths, full of functions etc.
I though it would be more simple to understand. Got any links to explain this easier/better or does someone needs to study all these dozens of math functions etc etc?

I though it would be more % related stuff.

Thanks

A