The only place luck has in trading is that you will hopefully be on the right side of unexpected moves due to surprises. In trading you should trade in such a way that good luck will benefit you and bad luck will not destroy you. In my trading luck has little to do with my profits. I trade when the probabilities are on my side based on what the chart is saying about the current action of buyers and sellers in a stock. New traders hoping for luck belong in Las Vegas not the stock market. Trade the trends, play the odds, manage the risk, have faith in yourself that you have the discipline to trade your winning plan.
- I do not trade on luck I trade with probabilities being on my side.
- I manage my risk carefully so bad luck on one trade does not blow up my trading account.
- I trade in the direction of the markets current trend to enable me to stay on the right side of strong moves.
- I trade in the direction of the markets current trend so the odds are on my side of being right.
- I buy the strongest stocks and sell short the weakest stocks.
- When I am wrong I do not hope for luck I just get out of a losing trade.
- When I buy options I buy the in the money options with the odds in my favor not the far out of the money ones that require some luck.
- I primarily buy options instead of selling them so I can get big moves for small fees instead of small fees for big risks.
- I only risk 1% of my capital per trade so I do not blow up my account with a string of bad trades.
- I trade with confidence in my myself and my method not hoping for luck.