What is your winning probability?

[asiaforexmentor]

Forex Coach Ezekiel Chew ask: Whats your winning probability?


FOREX COACH Ezekiel Chew ask: Whats your Winning Probability?
Do you have the answer to this question?
If you dont, then probably you should NOT even trade.
It is a very simple question that you should ask yourself before you take every trade.
WHAT IS MY WINNING PROBABILITY FOR THIS TRADE?
If it is anything lesser than 60%, skip the trade.
You see it makes no sense at all for you to take a trade that has lesser than a 60% chance of winning.
If its lesser than a 50% chance of winning, why even trade?
You are bound to lose on that trade right?
If it is a 50% chance of winning. You are betting on your luck.
Thats gambling, that is NOT trading.
If it is a 60% or higher chance of winning. And if you only take trades that have a 60% or higher chance of winning.
Where do you think your account size will go? UP of course.
Forex Coach Ezekiel Chew ask: Whats your winning probability?

Having a 60% and higher winning probability for that trade means you have an edge over the market.
You SHOULD consistently take trades that are over 60% chance of winning.
But if on occasions where you take a trade that is a 50% chance of winning.
You will spoil your entire game and your entire trading plan.
That is because you are adding a random variable to your trades.
And these random variables will disrupt your account growth.
For example:
Trader A) Out of 20 trades, he take trades that are only 60% or higher winning probability.
Trader B) Out of 20 trades, he takes 10 trades that are of 60% or higher winning probability and 10 trades of lesser than 60% winning probability.
Trader C) Out of 20 trades, he doesnt care about the winning probability. He just take trades when he likes it or just based on his gut feel.
Forex Coach Ezekiel Chew ask: Whats your winning probability?

Which trader do you think has a better chance of growing his forex account?
Trader A of course!
Which trader trades most like you?
If you are at trader B or trader C stage, you should stop your trading now.
And reflect on this.
This vital question is something that you must ask yourself the next time you trade.
What is my winning probability for this trade?
Forex Coach: Ezekiel Chew
Asia #1 Forex Mentor from www.asiaforexmentor.com