I first know forex back in 2003 and since then I found so many things that helped (and also crushed) my trading accounts. After so many ups and downs I figured out that one of the most important things when it comes to trading is to choose which camp you are comfortable with. One camp is a group of traders who think that high hit rate is of utmost importance because you can't or don't know how far the price will go into your profit direction and so the only thing that you can control is your entry. They say you must be picky with your entry point and only select an entry that has the highest chance of making money. In other words, pick a high probability trade. The other camp is a group of traders who believe that you don't need to have a high hit rate because only a few of your winning trade will be able to cover the majority of your losses. Of course, there is always those who reside between these camps.
Now, obviously both of these camps have their own champion traders who can support their claims. What I want to know is what are the reasons you choose one camp
instead of the other. When I say the reasons I mean things such as your personality or your trading strategy or your risk tolerance or whatever it is. The hope is to show traders the different views and the possibilities that you can get if you choose the other camp. This could also be useful for traders who have doubts regarding this topic. Anyway, diverse opinion will definitely enrich everyone's understanding.
Please don't forget to also participate in the polling.
Now, obviously both of these camps have their own champion traders who can support their claims. What I want to know is what are the reasons you choose one camp
instead of the other. When I say the reasons I mean things such as your personality or your trading strategy or your risk tolerance or whatever it is. The hope is to show traders the different views and the possibilities that you can get if you choose the other camp. This could also be useful for traders who have doubts regarding this topic. Anyway, diverse opinion will definitely enrich everyone's understanding.
Please don't forget to also participate in the polling.
Different/opposing ideas will make us learn and understand many things.