Yep, consistent profits no matter how small is the name of the game just as chartinator has shown in the iBox how only $3,000 can grow to $1,000,000 off a measly average of only 3% on 200 trades. Most of us make more trades than that in a single year. 3% is not much but the volume of 3% trades you can make in a year is far more greater than the number of home runs you can hit. I am not saying that ones sights should be on only 3% gains as mine are set higher but the calculation on only 3% really puts things in perspective. I am not perfect in any way as I continue to do battle with my own demons every day as it pertains to trading but the best thing I ever did was stop shooting for home runs. The probability of making a million off home runs is near impossible, you have to be really good and have a lot of luck to go along with it.
Trading for home runs is like the Texas Two Step, one step forward and two steps back. As it pertains to me, if I compare a year of shooting for home runs verses a year of shooting for small gains, at the end of the year I will always have more in my account in the year that I practiced small gains. In the home run target year, I am lucky to have anything left at all. One last thing I have learned. If I am in a home run stock, I may set there for 1,2, or 3 months waiting on it to develop, that is if it ever does develop. If I shoot for 3% in that same period which allows for me to buy and sell new stock almost every day if not twice a day, the 3% system will almost always produce as much if not more over that same period of time. 3% a day average on a starting balance of $3,000 for 20 trading days (1 month) = $5,418.33, on 40 days (2 months) = $9,786.11, and on 60 days (3 months) $17,674.80. My point.... there is your home run and it is a lot safer.
Brad
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