[00:01] from the legendary investor George Soros he once said it's not whether you're right or wrong that's important it's how much money you make when you're right and how much you lose when you're wrong let's break it
[00:14] down imagine you had 10 trades in a month seven were losses and only three were wins giving you a 30% win rate which might seem unprofitable but here's the twist Soros advises taking trades with higher reward
[00:29] rewards and small risks let's say trades with a 3:1 reward to risk ratio for example if you lose you might lose $100 but if you win you gain $300 so with seven losing trades you lose $700 and with three winning trades
[00:46] you win $900 even though you lost more trades your strategy made you a winner in the end remember it's not just about being right or wrong it's about maximizing your gains and minimizing your loss