What's a good batting avg?

[avedxrnv26]

for daytrading stock in US markets?

I read a lot about limiting losses and maximizing gains due to the tendency for common patterns to fail "frequently".

What is considered a good ratio of winning to losing trades? 1:2? 1:3? 1:10?

Obviously the absolute value of each trade is going to determine whether i'm + or - at the end of the day. but is this like baseball where even the hall of famers fail more often than not? Again, by fail i just mean picking a winning trade or losing one.

[aveposoxizeru]

Winning % doesn't mean much without profit factor.
I've maintained around 60% for the last 2 years with a 1.7 Profit factor on 700 trades.

My hold time ranges from 1hour to 4 weeks. Just depends on the time frame I entered.
I trade 1hr, 4hr, daily, and weekly charts. Most of my trades are on the 1hr and 4hr time frames.

Been using the same strategy for 4 years. The difference between the first 2 and the last 2
was my psyche.

[avidinuq]

I'm still just paper trading and trying to do much more than i normally would. I'm thinking this has me in trades that i probably wouldn't pull the trigger on if it were my $s on the line. It's getting much more proficient at the technical analysis and decision making process, but it's not helping my bottom line. Nor is it helping my pschye

[avociyefaqipu]

The strategy by and large has been the same for 4 years.
The positive difference in P/L between the years has come from the psyche

[awufeigv]

As others have already mentioned, batting average (win percentage) is really not very important. In fact in my opinion the only place where win % makes things easier is in our minds. It's nice to be right a lot. Who wants to do anything in life and be wrong most of the time? However in trading you really need to get use to being wrong a lot.

This is possibly one of the hardest things to do in trading. Being ok with being wrong A LOT and having the mental fortitude to continue trading your method correctly. When you've had 5 straight losing trades in a row, it's extremely hard to put that next trade on and manage it correctly. But that is exactly what is required.

From what i've observed, a high winning percentage is the goal of inexperienced traders. A high R:R is the goal of experienced traders. To make the switch from focusing on being right to instead holding winners is all in (https://futures.io/wiki/trading-wiki/All-In) the mind and involves a lot of work for most of us. The temptation to break our rules and take a quick winner to appease our natural inclinations is always there.