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For this strategy to be clearly positive you need a few trades, maybe 10% is enough, when you make not twice the risk, but 5-10 times the risk, like in the chart that Nima show first. If you don't get those runners, and you add up commissions and mistakes, you will be struggling to go beyond BE if you just get twice the risk in your winners, even tho the trader's equation is also positive. On the other hand, with time, you will learn to exit your trades that are not working with a smaller loss or a small win exiting when you see that the MKT is not doing what was expected. Of course, this is easier said than done because you risk exiting early trades that will work, so the first step is to learn to take trades with a good trader's equation and manage them accordingly.
That realization dawned on me a couple weeks back. So, I cut back on this course for some time and spent a lot of time learning options and option strategies where I can tilt the math a bit more in my favor. For example, if I have 1 RR ratio based on price action, if I can convert that into a 1.5 RR ratio using option strategies, I would be a lot ahead in the game. Although, I have been testing this for about a week, it is working well so far.
Would like to hear your thoughts on it, since you have been here a lot longer than me.
I have zero experience with options, but I would say that you need to know how to read a chart first and then learn to trade it with futures or options, whate ever is more favorable in each situation. Therefore, trading live without finishing the course is, to put it simply, a great way to donate money. Actually, you will need to go thru the course many times and you will still lose money, so don't trade now live, and save that money for the time when you have a chance...
Oh no. I am not trading at all. I led you believe I am. My bad. I meant, using options when I do trade in the future. I am currently following option strategies after I identify a setup and see how it works out. I meant, I am planning the strategies in a way that I get a RR ratio of say 1.5 when the actual RR ratio on the underlying was 1(60% setups).
My current level of infrastructure won't permit me to back-test these strategies, so I am studying them under market conditions. I am very clear on the starting to trade part. I would learn first, then on a sim and then at a level where I can maintain the I don't care size and scaling up from there with consistency. I won't start trading unless I know I can be profitable consistently. After all the time I spent in the markets, I understand that much. I was exploring to see, if you ever considered trading options and if you did, what loopholes you faced.
