The Best, Or Nothing

Feb. 29, 2023

If we want to achieve life-changing goals, ‘The Best, Or Nothing” is a terrible mantra.

The worst, actually.

Research shows we’re currently experiencing mental health issues of epic proportions, created in part by a widespread lack of goal-achieving.

And why aren’t goals being accomplished? Because if we don’t make a million dollars tomorrow, sell 100,000 widgets in an hour, or lose 50 lbs. immediately, we quit.

If we can’t be the best, what’s the point?
If we miss one day, it’s over.
If we have a losing month, the system’s a sham.

Is it any wonder New Year’s Resolutions only last a few weeks?

How do we fix it? Simple. Just change the mantra to “Do it today, even for a minute. Even if it’s not very good. And do it again tomorrow.”

Goals are inevitably achieved if that’s the mindset.

But trading is a strange thing.

What works in trading is opposite to what works in real life. Almost always.

In trading, we should only trade the best. Messing around with garbage instruments gets us nowhere.

We looked at one example of this in the last Newsletter.

If we traded the 3 MA Cross System on the GBPJPY only, we hypothetically could have made life-changing money. If we traded the exact same system on the CADJPY, we would’ve ended up in the hole.

The Best, Or Nothing. 

But is that just a one-off?

Spoiler Alert: No.

Using the same 3 MA system, here are the yearly returns for some other supposedly viable currency pairs. Here’s EURJPY. That’s a good one right?

Nope.

The EURJPY barely makes a dime. Here are the Annual Returns for the past 5 years:

How about AUDJPY? It makes 70% less than GBPJPY and has losing years:

NZDJPY? It barely makes money:

USDJPY? Not even close:

But those are all JPY pairs. What about superstars like EURUSD and GBPUSD?

Those are even worse. They’re deeply negative.

In the real world, The Best, Or Nothing is awful.

But in trading, it’s a huge shortcut to success.

Is this always true?

We’ll look at one more thing in our next Newsletter.

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Disclaimer:
It should not be assumed that the methods, techniques, or indicators presented in these products will be profitable or that they will not result in losses. Past results are not necessarily indicative of future results. Examples presented on these sites are for educational purposes only. These set-ups are not solicitations of any order to buy or sell. The authors, the publisher, and all affiliates assume no responsibility for your trading results. There is a high degree of risk in trading.

HYPOTHETICAL OR SIMULATED PERFORMANCE RESULTS HAVE CERTAIN INHERENT LIMITATIONS. UNLIKE AN ACTUAL PERFORMANCE RECORD, SIMULATED RESULTS DO NOT REPRESENT ACTUAL TRADING. ALSO, SINCE THE TRADES HAVE NOT ACTUALLY BEEN EXECUTED, THE RESULTS MAY HAVE UNDER- OR OVER-COMPENSATED FOR THE IMPACT, IF ANY, OF CERTAIN MARKET FACTORS, SUCH AS LACK OF LIQUIDITY. SIMULATED TRADING PROGRAMS IN GENERAL ARE ALSO SUBJECT TO THE FACT THAT THEY ARE DESIGNED WITH THE BENEFIT OF HINDSIGHT. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFITS OR LOSSES SIMILAR TO THOSE SHOWN.