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Out of 10 new girls I will end up on a first date with around 6-7 of them assuming that's what you mean by "success" and assuming they've also handed their number.
But again, that doesn't mean anything.
Wow, that's impressive.
So these are complete strangers you run into on the street, mall, store, those kind of locations?
I think you miss-understand. It's not impressive it's simply highly selective. The weedout process is still there.
I will meet 10 girls out of which 6-7 will hand a number.
Out of 10 numbers 6-7 will reply to an initial text.
Out of 10 that reply I'll be curious about 3-4.
And out of 10 (new girls) that I would date at this point, about 7 will not flake.
You do the math.
I like cold approach during the day, specially during summer, but given it's random nature to me it's just a "might as well". As in, I might as well stop and flirt with a few cute girls on my way to the grocery store, but I don't leave the house with that purpose in mind.
If I did that would imply that I'm looking for something which is either a relationship or a fuckbuddy. And in my opinion networking and social circle are by far more effective at that simply because it eliminates most of the random factor since you're obviously more likely to meet people that are, more or less, on the same wavelength as you.
That being said you shouldn't be discouraged from cold approach because, ironically enough, the most critically important thing you gain from it will not be women, but the social skills to hold a pleasant conversation with a complete stranger in almost any given situation. That confidence alone will resonate throughout all aspects of your life.
And yes, you can and will meet some great girls along the way, but becoming comfortable with stepping out of your comfort zone is infinitely more valuable.