But let's say you suffer a significant loss over the course of a series of 500 trades. It might be far from clear which of your entry and/or exit criteria led to the loss.
Here's another example of how things aren't always clear cut. Conventional trading wisdom says that you should offer to the market, rather than take. However, there are cases in Peter's videos where he takes from the market so it is always an error to offer to the market, or does it depend on the situation?
Peter alludes to loss aversion, but I'm not sure that not scratching a trade that's losing money is always a losing approach, providing you stake accordingly. I think it depends on your strategy. Some trades may think, 'I am entering at a value price, so I am going to exit at BSP come what may, as I trust it to be a fair price'.
I am reminded of a thread where Peter challenged people to find losing strategies, and no-one succeeded. Other than taking the back price and vice versa, it's hard to think of a strategy that will lose more money than you'd lose through your bank being eroded by commission.
Jeff