Your P&L is a snapshot. Your system is the movie. People judge the movie by one frame, panic, and change everything.
A losing stretch inside a sound system is not a signal to quit. It is the cost of being in the game. The math only works if you are there for the whole distribution, not just the green part.
Win rate is a trap
A system can win less than half its trades and still compound, as long as the winners are bigger than the losers. That is by design, not by accident.
So when someone counts their losing trades and concludes the system is broken, they are reading the wrong number. The question is not how often you win. It is what happens across the full sample.
Judge the process, not the print.
The expensive move
The most expensive thing you can do is abandon a working system at its low point because your P&L made you feel something. That is buying high on discipline and selling low on it.
Let the sample play out. The frame is not the film.
