What's the Biggest Reason Why Traders Fail?

Why do so many traders fail?

  • Being undercapitalized

    Votes: 13 26.5%

  • Not having a trading plan

    Votes: 15 30.6%

  • Lack of discipline (eg. too emotional and not following a trading plan)

    Votes: 20 40.8%

  • Lack of knowledge or experience (eg. either too dumb or too arrogant)

    Votes: 15 30.6%

  • Lack of focus (eg. jack of all trades, master of none)

    Votes: 11 22.4%

  • Poor money- and risk-management (eg. taking on too much risk)

    Votes: 26 53.1%

  • Impatience (eg. always getting in and out too soon)

    Votes: 13 26.5%

  • Overconfidence (eg. IT'S DIFFERENT THIS TIME!!!)

    Votes: 16 32.7%

  • Being emotionally tied to the stocks

    Votes: 8 16.3%

  • Being emotionally tied to the market direction (eg. alway bullish)

    Votes: 8 16.3%
  • Total voters
    49
  • Poll closed .
ironchef said:
You obviously didn't read his posts.

He told us many times, it is very simple: stare, click, stare, click. No indicators, no lines, no Al Brooks.....
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Good Morning ironchef,

You nailed it buddy. And guess what, my cost is $0.00 and no distractions reading books and watching youtube, buying trading courses, webinars, talking to people, listening to anything.

my cost is exactly $0.00 as well. besides my trading platform cost.

And I manual guess trade too everyday and win in the ES futures market. And I read people getting scammed and losing all this large sum of money in the options and all that stuff. Blows my mind honestly.
 
ironchef said:
Sounds easy, except the program part.
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Hello ironchef,

lol, yes the programming part requires some time and effort. In addition, alot of the ideas fail, ALOT!!!!

Easier to just buy the edge already built. I do like manual clicking everyday, that is a bit more rewarding.

I actually do not program anymore. Easier to just guess and click.
 
tomkat22 said:
SML you keep saying "your cost is zero" but how much have you lost on losing trades the last few years? Whatever that amount is it counts as a "cost".
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Good Morning tomkat22,

Correct, I have lost money prior years of trading, not alot. About a total of -$5000 to -$10000 overall trying all sorts of stuff.
 
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