One hidden benefit of a high ROI trading system over a high Probability trading system is that you don’t need to be the best trader in the world
to make money.
Some time ago I bought a day trading course written by a fantastic trader
who has a 94% success rate, when I watch her videos I am overwhelmed with
all the things she takes into account before she takes a trade. She is
probably one of the top short term traders in the world.
So what about the rest of us?
If you are going for a 1-10 ROI on your trades a few things will happen.
1. If you exit the trade early you are still going to get a much higher ROI
than you would normally get.
2. If you make some silly trades and lose a few percent of your account
then one winner can make up for the losses.
3. You don’t have to micro-manage the trade because you are accepting that
pullbacks are part of price action. You set your take profit and don’t
even look at the charts until the end of the day. Thus, no complicated
in-trade management.
What I’m saying is with a very high ROI on your trades you can be a
moderately skilled trader and still be profitable.