A lot of traders especially the novice is constantly looking for the 'Holy Grail' of trading and investing. I was one of the 'dreamers' about 20 years ago. I honestly tell you the 'Holy Grail' never exists. If it does, we all can become instant millionaires without having to put in much effort and time- just bring the laptop and sit in front of the beach and relax.
To be realistic, as a trader and investor, I'm always looking for that trading edge that can put the odds in my favour when I trade and invest. If I don't have that edge, I will be one of the 90% traders who constantly losing money.
There are hundreds of methods, indicators and software that are used by all traders but I suppose many of them fail to deliver. Why? It is simply many of them are not using the combination of analysis (Fundamental, Cycle Timing, Technical and Sentiment) to project and determine the trend direction, turning point. In fact, many just don’t know that the pre-determine the ‘Turning point’ is one the keys to success. To apply the turning point successfully, you must ‘wait patiently’ for it to come to you and you can’t force on it.
Apart from the combination of accurate analysis, every trade we put in, we need to assess the calculated risk-reward which means the potential loss and gain . The ratio of course need to be at least 3 to 1 and if we can do it wisely, we still can make good money with just a winning rate of 40%