The reality of trading is that most successful traders take small losses or
gains on the majority of their trades, while their real money comes from a few
trades that turn out to be big winners. By essentially “scratching” most of
their trades they protect their capital, making it possible to wait patiently
for the small handful of positions that turn into large gains.
Guide to Conquering the Trading Markets (1999, M.
Gordon Publishing, Malibu, Calif.).