Often in life, things come in full circle.. where am I coming from?
Back to the beginning of this blog - the Pareto Principle, remember the 20/80 rule? (or 80/20 rule whichever way you like)
One interpretation is try to achieve 80% of profits via the 20% of your trades... i.e. be highly selective and go for big kills.
Another perspective is the market don't provide such opportunities most of the times. I recall reading a comment the market moves sideways 70% and trends only 30% of the times. Doesn't matter if the statistics is accurate or not, it merely convince me to adopt the Sniper's Mentality.
May be better put this way: 80% waiting time, 20% productive trading times!
Well, I haven't done before a series of blogs so intense within a short time span. It is like a memory dump for me.. now I can take a breather.
What a sweet feeling I have an open trade right now that hits 105 pips to conclude this article.. good enough, closed it right away!
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