What's the Biggest Reason Why Traders Fail?

[schizo]

It reminds of Nassim Taleb’s observations:

"The 5 traits of the market fool

1. Overestimating accuracy of his beliefs (black swan)
2. Getting married to his positions
3. Changing story
4. No plan for taking losses
5. Is in denial (attributes losses to bad luck, and wins to skill)"

PS: I believe that most of the trading obstacles can be overcomed by commitment and taking full responsibility for one’s own results.

And #6: They're all out to get me.

 

[SimpleMeLike]

Not surprisingly, we all know why and yet we keep committing the same sin over and over.

Hello schizo,

Traders lose money and suffer painfully for ONLY two reasons:

1. Buying and following trading courses.
2. Buying and Reading Trading books.

Stop those 2 bad things, and the money will come easily flowing.

 

[taowave]

Arent you selling your algo??

Hello schizo,

Traders lose money and suffer painfully for ONLY two reasons:

1. Buying and following trading courses.
2. Buying and Reading Trading books.

Stop those 2 bad things, and the money will come easily flowing.

 

[SimpleMeLike]

Arent you selling your algo??

Hello taowave,

Yes, I am selling some of my algos, and I have sold some of my algos.

And I make money every day in the ES futures market trading manually by the hand.

 

[taowave]

Whats the difference between

"Buying and following trading courses"

and

Buying and following algos??

Hello taowave,

Yes, I am selling some of my algos, and I have sold some of my algos.

And I make money every day in the ES futures market trading manually by the hand.

 

[SimpleMeLike]

Whats the difference between

"Buying and following trading courses"

and

Buying and following algos??

Hello taowave,

Traders courses=scam
My Algos= money making

 

[themickey]

SML, where and how did you learn to write algos?

 

[taowave]

And while we are at it, When?

SML, where and how did you learn to write algos?

 

[orbit23]

It's actually very simple. The reason is doing "random" actions with no edge or strategy.

And this can happens due to any of the reasons in the poll(or combination thereof).

 

[newwurldmn]

Undercapitalised, if i had $10 or $20 million, i could average 10% a year, with no drawdown ever greater than 10%, and less than 5% drawdowns most years.

do that with whatever money do you have. Coupled with an investment in the market, you can get to 10mm pretty quickly. (I think you can take 100k to 10mm in 15 years)