HIT SINGLES NOT HOME RUNS
Just as I dont know of any successful speculators, I dont know of any trader who goes into a
trade expecting to hit a home run and then actually having it happen. You should never approach a trade with the idea that its going to be a huge winner. Sometimes they turn out that way, but the times that I have a hit a home run on a position is most definitely luck, not skill.
My intent on the trade was to produce a small winner but, because I had the trade on, and at the same time (as luck would have it), the Fed unexpectedly entered the market, I unwittingly had a huge winner. This probably has happened to me less than five times in 20 years.