Transcription
In this video, we're going to break down some of the basic mathematics of winning in trading. Here, I've put $500 on black on roulette. I'll show you the outcome at the end of the video, but in the meantime, I'd like to break down some basic mathematical theory in relation to trading financial markets, using this roulette spin as an example of probability theory.
Considering about 80% of my audience are not profitable traders, I think many of you are going to find this particular video very helpful in better understanding what constitutes an effective trading strategy. You don't have to understand this theory in order to be a profitable trader, but every profitable trader exploits this theory, whether they know it or not, as you'll see later in the video. I'm not promoting gambling. In fact, I'll make a very good case on why you shouldn't gamble, but in saying that, if this bet wins, I'll donate the money to charity.
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None of the material in this video is financial advice. I'm experienced in managing my own finances, but I'm not qualified to give anyone advice on what to buy or sell. You should always do your own research and due diligence before engaging in trading or investing, and please seek professional guidance if you need it.
Let's go on a mathematical journey. Don't worry, it's not as boring as it sounds. Here's a quick breakdown of what we're going to cover in today's video. There'll be timestamps below.
First, let's cover the mathematics of expectancy. Basically, the interplay between our win rate and our risk reward ratio is what determines our expectancy. Expectancy is how much we can expect to make per trade on average over a sample size. So, for a trading analogy, let's assume we have a 50% win rate with a risk reward profile of 2:1. So, for every trade we lose, we lose a dollar. For every trade we win, we win two bucks. So, with a 50% win rate, 2:1 risk reward, if we were to risk $100 per trade over about 100 trades, we should expect to make about $5,000, assuming we have fixed risk reward and fixed risk per trade in dollar amounts.
This formula doesn't consider slippage, commission drag, or compounding. In most cases, we're not going to be risking $100 per trade. We're going to risk a percentage of our account balance, which will grow our risk proportionate to the growth in our account balance. So that positively skews our expectancy over time. And also, don't forget tax. Tax has a big impact on the profitability of a system. These are things traders don't typically consider, and they wonder why their systems are profitable on paper, but when they go to trade it, they're not making money. We need to consider these factors when we're developing systems.
Now, most trading systems typically don't have a fixed risk reward profile. Some do, but most systems have a dynamic risk reward. So, trend following systems, for example, they're not going to have a fixed risk reward. However, this isn't financial advice, but in my early days when I started trading back in 2017, so about 7 years ago now, I started in the late 2017. The thing that turned my trading around and took me from being a consistent loser to actually being consistently profitable for a few months in a row was trading a fixed risk reward system. I was shooting for 2:1 risk reward. I had a win rate of about 40-something percent, and I made money about 3 or 4 months in a row, and it was a huge breakthrough for me.
Now, some of my systems in the Forex markets still use fixed risk reward profiles, but most of my systems have dynamic risk reward, and I no longer stick to that. But in the beginning of my trading career, this really helped me. Understanding this math, applying it to my trading systems, is what turned my trading around and gave me that breakthrough from being a consistent loser to actually making money. So, don't underestimate the power of fixed risk reward profiles, especially if you're struggling as a trader. Executing a system with a fixed risk reward instills discipline, it instills confidence, consistency, most importantly, and just instills good habits in your trading. You don't move your stop loss, you don't move your target, you're just always shooting for that fixed risk reward. In my experience, in my own trading, that is what helped me cross the threshold from struggling as a trader to being profitable.
Understanding the mathematics of expectancy also helps us to understand why risk management is so important. So, let's apply all of this to my little roulette spin at the start of the video. So, American roulette has 38 pockets: 1 through 36 and two zeros. It has zero and double zero, so two green on the wheel. If you're betting on black or red, and the ball lands in one of the zeros, you lose. So, this skews the probability. It's not 50/50, like some people might think. Betting on black on an American roulette gives me a win probability of about 47%. So, it's not a coin toss. That's the house edge.
The only other form of gambling that comes close to this sort of win rate is Blackjack. That's the only other game where the house edge is slim, other than poker, obviously. Poker is a totally different bag of worms, for lack of a better word, because poker, you're not competing against the house, you're competing against other players. So, of all forms of gambling, poker has the most in common with trading. But to keep things simple, I want to stick to this roulette example. So, if I would have bet on black on American roulette, I'd have a 47% chance of winning. So, my expectancy would be negative $5 per every $100 I spend. So, at best, if I'm really, really lucky over a long sample of bets, I'll leave the casino down $5 for every $100 I've bet, and that's assuming that I get lucky and that I don't encounter a losing streak, which we'll get to later.
This is probably the best bet you'll get in a casino outside of Europe. The reason I say outside of Europe is because in Europe, the roulette wheel only has a single zero. So, we still have numbers 1 through 36, but instead of two zeros, we have one. That skews the probability of winning positively by a small fraction, but it counts. So, betting on black on European roulette gives me a win rate of about 48.6%, which is a little bit closer to 50/50, and my expectancy is now losing $2.70 per $100 bet versus $5. So, that's a pretty big change in my expectancy simply by choosing a different game to play or different variation of the game.
I'm not telling you guys to gamble. This should be an anti-gambling video. If anything, by the end of this, you should not want to gamble. You should want to stay away from casinos because you'll better understand the house edge. But if you're going to gamble, like I did for this example video, you got to be smart about it. Being a better trader has made me a better gambler. For one, I don't gamble very often at all, and if I do gamble, I know when I'm lucky and when to quit, when to leave. But anyway, all of this is to say trading is a lot like gambling. It's a lot like gambling, except we as traders can have the house edge. We can be the casino if we structure our trading appropriately.
Moving on, another important concept to understand as a trader is when it comes to risk reward profile, you pay for what you get. So, here is a simulation of the expectancy curve by Nick Rad. This was on one of his posts a while back, and it's in one of his books. This shows the inverse correlation between win percentage, so win rate, and risk reward profile, or win loss ratio. So, you'll see here that if you're shooting for a five or more risk reward profile, you are typically going to encounter a win rate below 20%. The more profit you shoot for, the more likely you're going to lose. It's just this is just basic theory. If you're shooting for a really long, far away profit target, but you're managing your risk and constraining your risk, so you have a really large profit target, but pretty tight risk, you're going to hit your risk way more often than your profit target. That's just simple probability theory. And so, be prepared for that. Be prepared for that.
Ideally, we want to be around this range here, somewhere between 40 and 60% is a pretty good range. If you shoot for really tight risk reward, and sure, you can get a 70% plus win rate, but the robustness of that system can be fragile because we really, really depend on that win rate. We really need to be correct way more often than we're wrong in order to turn a profit with an inverse risk reward. Personally, depending on the system, I shoot for at least a 0.9 risk-reward profile with a 60% plus win rate. Some of my mean reversion systems have a 60% plus win rate, but they rarely take more than 90 cents for every dollar I risk, but that's profitable. As you'll see later, I have some spreadsheets you can play around with, plug some of these numbers in, and see the expectancy and the win rate, how all of these numbers interplay with each other. And then we have trend following systems, which are closer to the 40% range, but now we're looking at 1.5 and above in terms of risk reward.
Now, this is a rough theoretical estimation of these numbers and how they interplay with each other, but in my experience in the past six, seven years of trading, it's pretty accurate. The rule of thumb is the more profit you shoot for, the higher your risk reward, the lower your win rate is going to be. There's just no way around that. And it's just a matter of preference and personality. You know, there are really great ways to make a lot of money with a high win rate and a small risk reward, and there are great ways to make money with a large risk reward and a low win rate. If you can stomach the lower win rate, I personally find that an easier way to trade because you're not so dependent on wins. If you can stomach a lot of losses, a lot of small losses, then shooting for a large profit of 2, 3 to 1 really isn't that difficult. The hard part is sticking with the system during the losing streaks. But making the system itself profitable is a lot easier, I find, when I'm shooting for a higher risk reward. But the cost is you're going to lose more often, you're going to be in drawdown more often, and that is not tolerable for a lot of traders.
Now, technically speaking, on this graph here, anything that falls beyond this line on this side is profitable. But in my experience, and from all the literature I've read on trading psychology and just general human psychology when it comes to pain tolerance, there's been a lot of studies on how losing and winning affects human psychology. And many human beings struggle to play any game where they lose 40% or more of the time. You can overpower that, you can overcome that. I have, to a large degree, in my own trading. For me personally, I am all in on the idea that if it makes money and it's robust, then it can be traded. I really don't mind. But I have to admit, it is more comfortable to trade systems that win more than 40% of the time. As you go down the win rate ladder, it gets stressful. It does get stressful. The drawdowns last longer. Technically, you can potentially make more money on this end of the spectrum because you can shoot for larger reward, but the pain to achieve that reward should not be underestimated psychologically. So, this is just something that's worth factoring into system design and development.
Let's talk about losing streaks. Losing streaks are always a risk in trading, and they cannot be avoided. Please don't try to avoid them. Drawdowns are inevitable. We affectionately refer to losing streaks as traders as drawdowns. I say affectionately, a bit tongue in cheek. None of us like drawdowns, but they are the cost of doing business in the market. There is no way around them. Even Warren Buffett experiences drawdowns. The best traders on the planet experience drawdowns. You cannot get around them. Don't even try. It's a fool's errand. You will not succeed in getting around drawdowns. Sure, there are ways to mitigate them, to minimize them, but you cannot avoid a drawdown. So, don't go looking for that system, that system that never encounters bad drawdowns, because you'll be looking forever, and you will never, ever find success as a trader.
The real question is, what kind of drawdown can you stomach? And structuring a trading system around that number. So, for most traders, it's around 10, 20% of their capital is about the maximum of their comfort zone. I tend to be a bit higher. I can stomach around 30, 35%, but that's because I'm a lot younger than some traders. I have a lot more time to work with. You know, unlike my parents, my parents are looking to retire soon. They can't still make a 35% drawdown in their net worth because that will screw up their retirement. For me, I'm happy taking on more risk. It means more returns over the long run, at least for the next 10 years or so. I don't, I know I don't look it, but I'm currently 34 years old. So, you know, I've got a good 10 years of high-risk trading in me before I think I would need to start reigning that in a bit and protecting my capital a bit more. That's a luxury I have.
So, with all that said, it's important to understand that even a 90% win rate in trading can theoretically still lose 100 trades in a row. Now, this is astronomically unlikely. It's practically impossible, but it's not literally impossible. The chance isn't zero. There is still an above 0% chance that with a 90% win rate, you could lose 100 trades in a row. Now, you would be the most unlucky human being in the history of the planet, but it's important to understand the theory behind these numbers and to understand the importance of risk management. 90% is a win rate no one can achieve. But even 60%, most traders get a false sense of security and confidence thinking that just because they win more trades than they lose, then the chances of them encountering a really bad losing streak are so unlikely that they don't plan for it, they don't expect it. And this can be a lot of traders' undoing.
So, I have a spreadsheet here. There'll be a link to this below in the video description. Using the core probability theory mathematics, we have a sample size of 1,000 trades here, and this table here represents the maximum theoretical losing streak over the sample size. Here's the formula for how I'm calculating this table. Again, I got this formula from Nick Rad, and it's based on probabilistic theory. So, this formula is good at estimating losing streaks over large sample sizes. It really just gives us a ballpark figure, a realistic, reasonable estimation of the kind of losing streak we can expect to experience with that win rate. At some point, I also have this expectancy spreadsheet, which I'll explain more about later. I've inverted my screen here to keep this dark because the presentation is dark, but if you make a copy of this spreadsheet, there'll be a link below. You can play around with these numbers up here and see how different risk reward ratios and win rates and risk per trade affect your edge and money management outcomes.
The lower the sample size, the lower the chance of the losing streak because we have such a small sample size that the chances of a bad losing streak occurring are reduced. But if we have 1,000 or more, even with a 90% win rate, we could lose three trades in a row over 1,000 trades. If we go up to a million trades, now that number jumps up to six. So, you can see to get this to be 100, I don't know what number we would have to put in here, but it would be pretty big. So, the chances are minimal, but they're not zero. And so, with a 1,000 trade sample size and a 60% win rate, you can expect at some point to lose eight trades in a row. That is not an unreasonable expectation. That is within the realms of reasonable probability. And so, be prepared for that. If you're risking 2 or 3% per trade, can you stomach losing 16% or 30% of your capital when this losing streak inevitably occurs? If you can't, then you need to lower that number. You need to be a bit more conservative with your risk. And if you've only got a 50/50 or 40% win rate and you're risking 2% per trade, you are going to encounter a 50% drawdown before you know it, almost certainly. So, that is the importance of understanding the math behind all of this and structuring your trading and your risk management plans around this knowledge.
I'll leave a link to this spreadsheet below, but let's move on. There's a few more things I want to cover. One of the last things I want to mention here is the theory of gambler's fallacy, or the Monte Carlo fallacy. The gambler's fallacy is the belief that past random events influence the probability of future events, and this is simply not true. And we'll go over some examples of this before we wrap up the video today. But for example, let's use the roulette example. In roulette, if the wheel lands on black multiple times in a row, some people might believe that red is due. And I laugh at that because I know people, including my own family, that have fallen victim to this belief in the casino before when I've been there with them, and they've thought, "Look how many times black's come up, red's due." I've given up trying to explain to them that it's not, because it's a buzzkill. No one wants to hear that when you're at the casino to have fun and gamble. But it's important to understand this, especially as a trader. Just because you lost 10 trades in a row does not mean that the 11th trade has a higher chance of winning. Now, it is true that the 11th trade might have a very low chance of being a losing trade if your win rate is high, but that chance is constant, and it doesn't change just because you had 10 losing trades in a row prior to that. It's important to understand that each event in probability is independent, and we'll go over some more examples later.
But where this term came from, the Monte Carlo fallacy, the gambler's fallacy, came from the Monte Carlo Casino. This is also the term for Monte Carlo simulations. I already did a video on that, so go and check that out if you're interested. But back in 1913, at the Monte Carlo Casino, the roulette wheel landed on black 26 times in a row, and gamblers lost millions betting on red, betting against the recent outcomes because they believed that red was due. Now, this was on a single zero European wheel, so the odds of black were about 48%. The odds of black coming up 26 times in a row with a 48% chance were 0.004%. So, that's pretty bad luck for the people who kept betting against black. That's very, very bad luck. You can't avoid this. That's the thing. Sure, it came out 26 times in a row, and you didn't know that that was going to continue for 26 spins. The odds of that were really, really low. But the odds were constant. Each spin had a 48% chance of coming out black, and a 26 spin sample size is tiny.
If we go back to my spreadsheet for a moment, and let's copy this out, paste it here, and let's change this to 48.4865, so we have a 48.65% chance over 1,000 spins. It is not unlikely to see red or black come up 10 times in a row. And you can imagine at a casino, spinning a thousand times, they probably do that or more spins a day. So, people that work at casinos, the dealers, would see this happen quite frequently, or more frequently than the average gambler.
So, some of you may be asking, and I've thought this myself when I learned about this theory, I thought, wouldn't it mean if the chances of losing 100 trades in a row are so slim with a 90% win rate, and you encountered a 100 trade losing streak, doesn't that by definition mean that you'd be statistically closer to breaking the streak with a win? And the answer is no, you wouldn't be. This mistaken belief is the gambler's fallacy in a nutshell, and it takes a little bit to wrap your head around it. But let's break it down in more detail because this is something a lot of traders really get hung up on, and it leads to really bad habits, bad decisions in the market, it leads to chasing losses and all sorts of silliness. I mean, some of you would have heard of the Martingale strategy, which dictates that you should increase your risk with each losing trade. This is the exact reason why you should not do that. That's a bad strategy. Sure, you might get lucky from time to time, but over a large sample of trades, that is a losing strategy and a very dangerous one.
Because the gambler's fallacy is the mistaken belief that if something happens more frequently than normal during a given period, it will happen less frequently in the future, or vice versa. So, for example, if you flip a fair coin and it lands on heads 10 times in a row, the fallacy is believing that the next flip is more likely to be tails to balance things out. But in reality, the coin still has a 50% chance of landing on heads or tails, regardless of previous outcomes. Each bet or event, like a coin flip or a roulette spin or a trade, for that matter, is independent of the previous ones. So, if you have a 90% chance of winning a bet, the outcome of previous bets doesn't change that probability. The odds of winning or losing each individual bet remain constant, no matter how many times you've won or lost before.
So, how does all this apply to trading? Here are a few key points. First, losing streaks are inevitable. Drawdowns are inevitable. Accept it. Embrace the suck. Don't try to fight it. Don't try to avoid it. There's no way around it. When you're dealing with probabilities, as we do as traders, you are going to encounter losing streaks, no matter how good you are at trading, no matter how often you win. And that is why risk management is key to successful trading. No matter how good you get at trading, there is always the danger that the next trade will be a loss, or the next 10 trades will be losers. And if you don't manage your risk properly, you are going to blow up.
Understanding all of this will motivate you to be a better risk manager, which will in turn make you a more profitable trader over the long run. It also should encourage you to stick to your plan, because you don't know what the next trade will be, regardless of recent trade outcomes. I know it's tempting to think you do, but you don't. You really don't. The markets don't care what your last trade's outcome was. That's the best thing about trading. It's not personal. The markets are not personal. They don't care about your situation, and they don't care about your financial situation. That's why it can ruin you, and that's also why it can make you rich. It does not discriminate. The only discriminating factor is the money you have at risk, leverage, things like that. It doesn't care if you're poor, it doesn't care if you're rich, it doesn't care if you can afford to lose the next trade or not. It just doesn't care. It's going to keep going on, keep randomly moving as it does over time.
And now, sure, the markets aren't entirely random, or else we wouldn't be able to develop an edge over them as traders. But there are so many factors influencing a market's movement that just because we can exploit its movement using trading edges and trading systems doesn't mean we can guess accurately what the market will do next. So, in other words, we need to avoid emotional trading. You are not due for a win, and likewise, you are not due for a loss. Just because you've had a bunch of winning trades in a row doesn't mean the next trade is going to be more likely to lose. That's why I'm such a big fan of systematic trading. I like systems where I just press the buttons and the system does the work. Because whenever I get involved with discretionary trading, especially back in the day when I traded crypto during the 2017 bull market and the most recent 2020 bull market, emotions really played a part in my decision-making. There were many times where I thought, "I need to take profit because this can't go up anymore," and it would go up another 50% overnight. And then there were times towards the end where I thought, "Wow, this has gone up so much, it's probably going to continue going up, I should keep my positions on," and I end up losing, you know, 20% of my open profit or more in some cases. That's because of my emotional decision-making and things like gambler's fallacy creeping into my thought process.
So, we need to understand probability theory. Even a high win rate will encounter losing streaks. Be prepared for it. Understanding all of this can help you to know and trust your edge. If you don't understand and trust your edge, you won't be able to execute it consistently, and you will not find consistent profits as a trader.
Yes. Oh, there you go. So, you double your money. Yeah. Let's go to charity. Nice.
So, in summary, each trade we take is independent of any previous trades. Short-term outcomes are random, so expect pain, expect drawdowns, and don't try to avoid them. Instead, plan for them, mitigate them, manage your risk, keep your risk constrained in the context of your system. So, depends on your win rate, depends on your risk reward profile. On average, we don't always know these numbers statically, but we need to have a good understanding of what to expect over a large sample size. So, we need to be thinking in terms of blocks of 100 trades, at least 100 trades, if not more. Think of the next 1,000 trades. What is likely to happen over the next 1,000 trades? And a lot of this information we're not going to be able to know unless we backtest. And that's something I'll go into more detail in future videos and put together a whole course on when I get time, at least for TradingView and the Strategy Tester, which is a complex beast to wrap your head around. But through the process of sound backtesting techniques, Monte Carlo simulation, which we'll get through later, and I've done a video on that previously, and just developing robust systems that can withstand losing streaks, that can withstand the randomness of markets, that is how we deal with drawdowns. We don't try to avoid them. That's a losing game and it leads to bad habits, bad decision-making, bad trading psychology, all kinds of dangerous pitfalls. So, accept drawdowns and understand your edge intimately. That is key to good trading.
Understanding these numbers and how they affect your edge over the markets is really important to having confidence in the system and being able to execute it consistently. Most traders fail because either they do not have an edge over the markets, or they have an edge that works, but they don't understand it well enough to have confidence in it, to trust it, and to withstand those losing streaks that inevitably come along. Any of us who have been trading for any length of time all know traders who system hop, hop from system to system. They encounter a losing streak, and they think, "Oh, the system doesn't work," or "It's not as good as I expected," and they move on to the next system. When that system could have been profitable. Consistency is key in trading, and sticking to a consistent plan is the only way to measure your results and improve them. So, take the time to backtest and develop a system that you understand and respect and trust, and then stick to that plan for some period of time, at least 100 trades. Personally, when I was learning, I stuck to at least 100 trades, and then I would do it quarterly. I would say, for this next quarter, I'm going to follow my plan note for note without deviation and see what happens. And then if it doesn't work after that quarter, then I'll readjust, I'll reassess. But I made money in that quarter, and I've made money most quarters ever since. Now, I have a losing quarter here or there, but over the long term, I generally make money because I understand my edge, I understand these numbers now, and I have good trading psychology as a result.
So, check out my previous video on Monte Carlo simulations in TradingView if you're curious about that. Check out the spreadsheets below. Now, on that note, let me show you the second tab to this spreadsheet, the expectancy tab. This is where you can input an account balance, a win rate, a risk reward profile, and a risk per trade, and these numbers here are a simulated return based on these numbers. Now, the trade count is inaccurate. I need to fix that formula. But right now, we have 1,000 trades being simulated. We can have up to 1,000. So, if I put in 1,000 here, we have a list of trades that are randomly generated based on our win percentage and our risk reward profile. And over here are our stats. So, over 1,000 trades with a 50% win rate, 2:1 risk reward, with 2% risk, we had a 20% drawdown and an astronomical return because of compounding. So, let's stick to trades for now. 143% return. This just goes to show, a lot of traders don't understand 2:1 is not an unreasonable risk reward to shoot for. A 50% win rate with 2:1 is very high, and 2% risk is very high. Now, over a small sample size, you're not going to get astronomical drawdowns, but if we bump this up to 1,000, keep an eye on my drawdown here, it will not be unreasonable to see 30% plus drawdowns over a 1,000 sample size with these metrics.
Now, this is a really, really good system. Most 2:1 systems will hover around a 40% win rate at best, and you can see here the minimum win rate required with these metrics is 33%. If we fall below this win rate with a 2:1 risk reward, we are not going to be profitable. We need at least 33% to break even. Again, this doesn't factor in commission costs, slippage, tax, all the hidden costs of trading. This is just raw numbers. So, these numbers would be worse in real trading. So, keep that in mind. And as you can see, it's not hard to get a nasty drawdown with a 2:1 risk reward and a 40% win rate. We already lost half our capital with just one of these simulated samples over 1,000 trades, and that's with a pretty solid win rate, quite high above our minimum win rate. So, what does that tell me? That tells me that 2% risk is too much. I'm not comfortable risking that much because at some point, I am going to encounter a 40% plus drawdown with a 2:1 risk reward. So, I need to drop this down to 1%. 1% would probably be acceptable for me. I don't think we're going to encounter a drawdown above 30% with a 1% risk, 2:1, 40% win rate. These are the sort of metrics I try to shoot for in my trading. They are reasonable, they are realistically achievable in a trading system. So, these are the kind of realistic numbers I'm looking for.
And playing around with a spreadsheet like this can help you wrap your head around the math, wrap your head around what to expect with these numbers, and the theory behind all of this. Again, this is all just theory. In live markets, things will be a little bit different. But anyway, if you want to play around with the spreadsheet, you can come to the link in the video description, click file, and click make a copy. Don't request to edit the spreadsheet because I won't allow you to, because if people screw it up, other people can't use it. So, make a clone of this spreadsheet, make a copy, and then you can do whatever you want with it.
Finally, check out my Pine Script Master Course if you're new to Pine Script or TradingView and you want to learn how to make your own scripts for that platform. I've got more content on my YouTube channel, so go and do a deep dive on that if you're curious. Finally, just believe in yourself, do the work, and be the casino, not the sucker. Don't be the gambler, be the house edge, and you will find success as a trader eventually. I don't know what that will look like for you, but I've done it. All my trading mentors have done it. A few of my friends who are traders have done it. It can be done, but it does take hard work, it takes understanding this theory, it takes good trading psychology, good habits, consistency, experience, educating yourself, teaching yourself these things, learning the ropes properly, and instilling good habits. It's not easy, but it can be done.
And finally, the profits from that roulette spin are going to go to Traders for a Cause. So, that's I've never donated to these guys before, but I've done a bit of research on them. They seem like a good community, good charity. I was going to donate this to something else, but I thought, since this is a trading video, I should probably just donate it to a trading charity, and this is the best one I could find. So, that's where the money will be going. Hopefully, it will help some people out. It was pure luck to win that, obviously, so it's not money I feel I earned, so I should send it off to charity. That's all I have to say.
Hope you guys found this video interesting. If you did, leave a comment below. Let me know what you think. Let me know if you want more videos like this, or if you just found it boring and you're not interested in this stuff at all, then I don't know, I'll show you something else, I guess. But this is important. This is the theory behind good trading. If you found this boring and you're not interested in this stuff, then you're probably not going to make it as a trader, unfortunately, and you should probably find something else to do with your time and your money, quite frankly. But anyway, with that said, I'll wrap this up here. Best of luck with your trading and everything else you're up to. I love you guys. Take care, and I'll speak with you soon. Goodbye.