The biggest factor that blocks Forex Traders from profit is undercapitalization
The biggest factor that blocks Forex Traders from profit is undercapitalization
- Thread starter ElectricSavant
- Start date
Your second sentence is true, @ducatista. Managing a $100 account is the same as managing a $100,000,000 account, provided your minimal trade size is manageable. What I'm coming at here is that you don't want to enter a $1,000,000.00 trade if you have only $100.00 in your account, no matter the amount of leverage offered to you by your broker.
The first sentence is bogus. @ElectricSavant brings no argument at all. He brings a conclusion, and we don't know what his "arguments", if any, are. He brings a slogan, a leitmotif. Something that can be parroted around on social medias. There is nothing to debate here, except his own level of irrational indoctrination and metaphysical beliefs.
Yes, the biggest reason many forex traders fail is that they are undercapitalized in relation to the size of the trades they make according to experienced traders - https://www.instaforex.com/reviews_forex_traders . From my experience, the largest mistake any trader can make is to let emotions control your decisions. Being able to control your emotions is key to fx profits.
Hello ElectricSavant,
Note: I am currently an unprofitable day trader, even though I a currently on a 10 day winning streak. Please take my comments below as my own personal experience.
The biggest factor that blocks Traders from profit:
I would say the one thing prevented me from profits is not putting in the time to study the right trading education. It really takes hard work and talking to actual day traders who are trading (winning or losing).
I spent too much time searching the holy grail and bullshitting trying to build trading robots.
Last edited:
You need to put in the time of screen hours, no matter how much you educate yourself, if you are not familiar with the charts and market flow all the education is useless. I couldn't describe it better then this old post by @ElectricSavant "Another thing...
You must learn about money management. This is 50% of your work.
The other 50% is not to discover someone sharing the wealth, but it is to spend thousands of hours watching candlestick charts and to discover the patterns of tick or pip movement..you will memorize this. You do not need to be a genius to do this, but it could make time go faster
I have spent my whole life to arrive, I am a late bloomer.Anyways...through those screen hours you will get accustomed to the flow of things...do not limit the information you can take in at this stage...find your passion....you will know if you have it...
and most importantly...
Do not LOVE money, RESPECT it...its is only a tool for you as a trader, just as your charts and price quotes are.
I personally am at a stage where I have trained my mind to use excel spreadsheets and price quotes only...I do not use charts...AND I AM manually SCALPING/ARBING (do not ask what arbitration is, perhaps there are others here that would like to contribute?)
Michael B."
IMNOTRADER,You need to put in the time of screen hours, no matter how much you educate yourself, if you are not familiar with the charts and market flow all the education is useless. I couldn't describe it better then this old post by @ElectricSavant "Another thing...
You must learn about money management. This is 50% of your work.
The other 50% is not to discover someone sharing the wealth, but it is to spend thousands of hours watching candlestick charts and to discover the patterns of tick or pip movement..you will memorize this. You do not need to be a genius to do this, but it could make time go faster
Anyways...through those screen hours you will get accustomed to the flow of things...do not limit the information you can take in at this stage...find your passion....you will know if you have it...
and most importantly...
Do not LOVE money, RESPECT it...its is only a tool for you as a trader, just as your charts and price quotes are.
I personally am at a stage where I have trained my mind to use excel spreadsheets and price quotes only...I do not use charts...AND I AM manually SCALPING/ARBING (do not ask what arbitration is, perhaps there are others here that would like to contribute?)
Michael B."
Please disregard my post back in 2020. I disagree with your comments and my comments.
I know nothing.
Last edited:
