Great quality content as always, Azircon.

The biggest misconception in the minds of most retail traders is that they think they need to have a high winning percentage. However, my experience working for brokers says that the most successful traders actually have low winning percentages and instead focus on letting their winners ride.

This is a concept I try to implement into my own trading. Cutting losers short and at least putting myself in a position from time to time that allows me to potentially hit huge home runs.

I do this by taking trades with tight risk:reward ratios and by leaving winners at the end of profitable trading weeks open. If I can turn a 1:3 risk:reward trade into a 1:20 then that's just about an entire month's profit made in 1 hit.

So having said all that, I definitely agree with the moral of your post. It is okay to fail on a trade, just make sure you're putting yourself in a position to take advantage of the big winners when they're presented.

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