Good trades are not always available in many markets. Trading is hard to do.
Not trading is even harder to do!
For the trader, being in the market usually produces a rush. We love the action of the trade.
By contrast, sitting around and waiting for a trade to develop is not really exciting – in fact it can be downright boring.
But, I submit, that waiting for the right trade to come along is just as important as recognizing it when it finally arrives – maybe more so!
My reasoning is thus: we trade for a profit – and not all trades are profitable. Analysis over time has convinced me that taking marginally acceptable trades is the primary cause of traders losing money.
It is really simple – profitable trading is based on being right at least as often as being wrong on selecting a trade – plus, and most importantly, making more on a winning trade than we lose on a losing trade.
Selecting only trades that give us a potential profit of at least twice our risk – combined with being right at least half the time – is the recipe for profitable trading.
Increase either of the above and profits improve significantly.
Contrarily, reduce either of the above and profits can go down quickly and significantly.
We know of no quicker way to reduce either – than taking trades that are marginal.
So a short term trader – actually any trader – must be patient and wait for the right time to trade.
Patience has never been my personal long suit, so the waiting part is often pure agony.
But I can assure you that losing patience and rushing into a trade is not a good idea –I have confirmed it empirically numerous times.
Patience is said to be a virtue – for a short term trader it is much more – it is an asset.
Wait for the right time to trade – you will be glad you did.
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Author & Trader
….very impressed with the whole philosophy – both personal and trading, expressed in the book. I will read and revert !!Richard DUSA
Great system – couldn’t trade without it !!Frank YDavid, Panama
“The SRV’s are amazingly accurate”.Tony Texas
the SRV’s are spot on !!Tom CUSA
I trade the US Bond Markets exclusively – amazed at the accuracy of the SRV’s !!George SNew York, NY
Thanks for the method !! Very solid, very logical entry and exit and genius SRV’s !!Denis DRussia
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