Can one judge performance of a trader and his system by the results?
Nicholas Taleb put it this way: “One cannot judge a performance in any given field by the results, but by the costs of the alternative (i.e., if history played out in a different way). Such substitute courses of events are called alternative histories. Clearly the quality of a decision cannot be solely judged based on its outcome, but such a point seems to be voiced only by people who fail (those who succeed attribute their success to the quality of their decision). Like with other risks, confusing strategy and outcome can lead to the abandonment of a well-thought-out plan.” The point of my post is to encourage viewers to think in terms of a strategy, not the results which we all acknowledge, may differ from the hypothetical results, which in my opinion C2 should strive to achieve to be as close to real-world results as possible in order to avoid subscribers building castles in the air resulting in loss of hard-earned money and dreams which causes deep pychological wounds. Until that h
