Short Term Trading Weekend Lounge : 23-25 Sept, page-97

Good point SL

How many of us actually do any stats on the outcome of any patterns we trade? By that I mean if we are looking for pattern or event X, how many have actually gone back through the charts and identified out of a sample population how many times that pattern or event X occurs, and when it occurs, how many times does price go up (leading to a winning trade if long), and how many times does it go down (leading to a losing trade if long). And if we follow a selected set of trade rules every time event X occurs, what is the average profit per winning trade and the average loss per losing trade.

There is no certainty in trading, but at least you can work out what your odds are if you do the stats, so you can work out on average whether the trading strategy should be profitable or not.

Cheers, Sharks.