winning strategy

I love to learn about trading and I find so far that your site is educational. Looking forward to read your threads and learn from you.

Mark Cook interview in Stock Market Wizards by Jack D. Schwager : In April 1978 I made my first option trade. I bought two Teledyne calls at $9 for a total premium of $1,800. I sold the options two days later for $13, earning a total profit of $800 on my $1,800 investment. I said to myself...

Recently I read in a book that a winning strategy must include losing. Basically a stock trader shouldn't expect to not take a loss forever. Profits and losses are part of the winning strategy only that for a given odds the profits must outweigh the total loss from all losses. And also that the...