99.5% fail because trading is too simple, easy, and too boring

Quote from alex.samant:

and to complete mark77418's post:

it's also like the people buying those bigger penis solutions because they think that will get them better sex...

...burp

:)

happy new year guys!!!!
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Do those things work?

I am only asking for a friend, its not for me. Seriously. not for me.
 
Quote from mark77418:

Trading is not that difficult. It takes time and effort to learn about the markets and develop a system but I think the number one reason most people fail is because of a lack of discipline. Most people lack discipline in all areas of their life. A good example is people who struggle wih their weight. most likely they are fat because they lack the discipline to eat healthy foods in moderate amounts. They would rather eat sugary, fatty, high calorie foods beacuse they taste good or they will eat some fast food or some shit out of a box because they are to lazy to make something healthy to eat. Most people don't have the discipline to get enough physical activity either. How many people join a gym and go on a diet on new years but then they fail to follow through with their diet and exercise plan? I would say the percentage is pretty high, maybe close to 90 percent.
A lot of people go on these crazy fad diets that don't work instead of learning about nutrition and how their bodies work and developing a sensible plan to get to the weight they want to be. How many people buy stock trading systems or pay to go to seminars that are suppose to make them rich then they end up blowing out their accounts. I bet a high percentage of people do this. How many people dilligently study the markets, backtest their trading method then follow all the rules of their system. probably not very many
I have found that every time I blew out an account was because I did'nt have the discipline to follow my stops. Discipline is the key. Mastery of the markets are more about mastery of yourself.
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Using your diet analogy, the keto or Atkins way of eating may work for one, but not the other. So like trading, obviously it goes further than having discipline. You can have all the discipline in the world, but if you are not following an eating, exercise and resting (just to name three) plan that is conducive towards your body type (Endo, Ecto or Meso), age, genetics...and a list of other variables you will not be successful thinking long term. It's all trial an error....and the body is forever changing. Diets teach you to reduce........but what about maintenance ? You can have a person loose fat or weight, yet still be unhealthy.

When a person reduces, more than likely they loose muscle. If muscle is lost, they are more susceptible to gaining the weight back because there is less muscle to help burn fat. This issue here IMO is just as much Physiology as is with discipline. Discipline is just one variable.....and it takes more than just discipline to make an account grow. ...just as it takes more than discipline to reduce Body Fat%.

I will say it again....Trading is easy to learn, yet difficult to Master.

So the next t time anyone sees a Thick person (just trying to be politically correct) or someone that has blown out there account.......give them a hug and sympathize with their plight....hehehe
 
Quote from traderdragon2:


In fact, 95% of money managers fail to beat the market over a 10 year period.
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where did you get that fact from? do you have any source or references?
 
success in trading is really just like any other gladiatorial game: for every winner, there must be a loser.

"fine," you say.

"so what" ?

if it is a given that most players will lose, to win, simply study what most traders do, then do the opposite.

success, simply defined, is studying failure and not repeating it.

what are your trading resolutions for the new year ?

here are mine: (what better time to admit to yourself the need to improve :) )

1) take stops

2) understand risk before entering any trade

3) use the trailing stops that you decided on before you had cash on the table

4) never deviate from the SPECIFIC entry that got you into the trade

5) do not engage in self-sabotage

6) pay extra attention to your losing trades:

why did they lose ?
was i following the method ?
what is true about this trade that is different from other trades of this kind i have done before that worked ?
did i have an emotional attachment to this trade ?

&

7) teach others what you have learned.

i cannot overstress this last point. i have seen, over many years trading, that those who are trading for their own self-aggrandisement will inevitably fail. It is in the subconscious: if u r in this simply to score the cash,or the pride, or the stuff, or the attention, eventually, u will blow up (or go out) if, on the other hand, u r doing this as a means to an end, and you will not quit, you will eventually succeed.

mother theresa had doubts about her purpose, but she held firm, and did great things.

so can you.
 
Quote from dagobaz:mother theresa had doubts about her purpose, but she held firm, and did great things.

so can you.
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Very inspirational. Was Mother Theresa involved in any zero-sum games?

M
 
chewbacca said:
good trading so easy and so boring that people fill their NEED for excitement and ego involvement with:

fundemental analysis
technical analysis
indicators of various sorts
changing brokers repeatedly
changing trade software repeatedly
changing strategies repeatedly
changing monitering parameters repeatedly
making forcasts and predictions


good trading (following the ancient principals of good investing) feels like taking a nap all day long.......but most people can't handle that counterintuitive fact because all their life they are told that they have to be right, they need to work hard, they need to beat themselves up to deserve their sucess, they should never give up and double down by working harder etc...............all the convential wisdom fail you........you know you're a good trader when trading feels like sleeping on the beach all day long.
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good post

https://www.google.co.uk/webhp?sour...=1&espv=2&ie=UTF-8#q=patience+trading&tbm=vid

Patience is the key.
 
At the most basic level, people must trade by processing information. Unfortunately, we're not very efficient information processors. We have a lot of biases that enter into trading decisions.
Consider the trading rules that work: 1) follow the trend; 2) let your profits run; 3) cut your losses short; and 4) manage your money (i.e. risk) so you can stay in the game. If you design something around following those rules, you'll make a lot of money. This all about Trading Psychology.

A trader is his own worst enemy ,the enemy is within , because the odds are against the trader .Most humans are not capable of being rational and behave rationally in trading , with the negative edge ,with losing emotions , stress , trend chop outs , psyche , losing sequences/ drawdowns and winning periods


When there is no enemy within, the enemies outside cannot hurt you.
- African proverb

The Best Trading Proverbs
 
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