Day-Trading 2.0 for small traders

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Quote from StillStanding:

if it's so simple why do 95% of traders fail??
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Because they can't keep it simple, somehow they find a way to add unnecessary complexity.

Anek
 
hopefully most people dont fail in life. They have families,homes,jobs,cars,etc.

but 95% still fail in trading. in most other professions 95% basically succeed or make a living. I guess they are providing a service.

Traders do not provide a service and perhaps that is why the high failure rate. (metaphysical?)
 
Quote from StillStanding:

hopefully most people dont fail in life. They have families,homes,jobs,cars,etc.

but 95% still fail in trading. in most other professions 95% basically succeed or make a living. I guess they are providing a service.

Traders do not provide a service and perhaps that is why the high failure rate. (metaphysical?)
More...

Most people FAIL TO PLAN and, by default, plan to fail.

Others FAIL TO FOLLOW THE PLAN, and thus fail.

The road to success is a lot less crowded.

As Anthony Robbins says, "SUCCESS LEAVES CLUES".

Most people spend more on hair care products than they do on education. They care more about the outside than the inside. "Fixing" the outside is much easier than fixing the inside.

Traders provide LIQUIDITY.
 
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"A chart is worth a thousand pips"
 
Quote from StillStanding:

hopefully most people dont fail in life. They have families,homes,jobs,cars,etc.

but 95% still fail in trading. in most other professions 95% basically succeed or make a living. I guess they are providing a service.

Traders do not provide a service and perhaps that is why the high failure rate. (metaphysical?)
More...

I think the 95% figure is just a guess. There's a thread on this, in fact...

I'm a fairly new trader (bout 3 months experience), and it's amazing to me how trading can be simple yet difficult at the same time. Simple, because once you figure out what charts, instruments, indicators etc. you're going to watch, and once you see the same patterns x number of times, it starts to come naturally to you. Difficult, because trading places unique psychological demands on you that can only be mastered with experience.

I also want to say that this is a great thread, and I hope to see more:cool:
 
Quote from StillStanding:

if it's so simple why do 95% of traders fail??
More...

Its not easy, the OP himself stated an approach like this requires alot of experience and screentime to become good at.
 
Dr. N

Thanks for your comments.

Rn86,

I would like to thank you for you comments too but particularly because posting your chart. I always try to improve my charts (reducing at the max distortions in my screen) and I must confess that your very simple but powerful idea of plotting the HMA (or any other) as a paint bar indicator is brilliant and it’s something worth to add to my charts. I have been trying to do this for a while programming functions that plot arrows and hiding the HMA without nice visual results. Something the answer is in front of us and like always we try complicate things (like basic price analysis). Thanks.

Specterx

Thanks for your comments especially for pointing out one of the most important issues in trading that hasn’t been addressed yet: psychological demands (I’ll try to elaborate something later).
I do agree with your last post 100%. In my opinion there is big difference between simple and easy. Understanding basic price analysis and developing a consistent trading method is and must be simple but trading involves a lot more than that. The definitions in the dictionary provide the best arguments on this:

Definitions (American Heritage Dictionary)

Simple: Not involved or complicated
Easy: Free from worry, anxiety, trouble, or pain

Is trading simple or/and easy or not?

jjrvat
 
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