In This Episode
- Is your goal to make money, or is your goal to be right?
- Tips for increasing your win rate
- When you might NOT want to increase your win rate
Do You Need to Have a Higher Win Rate?
A trader wrote in and asked how to increase the win rate of a trading strategy that's profitable in backtesting.
So we discuss the pros and cons of trying to increase the win rate of a trading system.
The bottom line is that you're looking for an edge in the markets. Regardless of if the system has a high win rate or a low win rate, it shouldn't matter.
As long as it's net profitable over a long period of time, all you have to do is keep trading it consistently.
But some traders cannot handle a low win rate strategy, so we give you options on what you can do if you're the type of person who needs to be right most of the time.
Listen to the Audio Version
Click the play button below to hear the audio-only version. You can also download the mp3 file below.
Podcast: Play in new window | Download
How to Get New Episodes of The Think Profit Podcast
You can get notified of new episodes of the podcast by subscribing to our email list, or subscribing via any of the major podcast platforms that can be found here.
If you enjoyed this episode, a 5-star review on your favorite podcast platform is always greatly appreciated!
Thanks for listening and we hope that your trading is going well!