Do we need a 85% hit rate in trading?

Yesterday I went for the CNBC Investor Camp in Kolkata. It was a pleasure listening to Sudarshan Sukhani speak who according to me is one of the best Technical Analysts in India. He has a very rational mind and converts his thoughts into an actionable trading plan.

I was interacting with some of the other delegates. Most people seem to want to know:

1) When will the Nifty reach 6000 levels again


I never believe in predicting tops and bottoms. It is easier to trade with the momentum without worrying about tops and bottoms. One can make a lot of money even if the Nifty oscillates between 2500 and 3500 for the rest of our lives.. Someone asked me what my hit rate was....I said 50%....most people want a higher hit rate..But what is more important than the hit rate is the risk reward ratio....keep the losses small on the losers and let the winners run...this will result in lots of profits.