Why 90% of traders burn out?

[algofy]

What is your risk/reward in your strategy?

Around 1:1, slightly less at times with a winning % between 52-55%

 

[indicator777]

Most traders lose because their trades are indistinguishable from the trades affected by coin toss. This is probably the most important analysis you will ever read. It certainly changed my way of looking at trading. If you cannot prove that your trading offers a substantial edge over coin toss then commission and slippage will drive you broke. Most traders find out the truth when it is too late.

 

[SoesWasBetter]

Many burn out after making their first million . Boredom sets in.

 

[galvinlee888]

How much do you get paid to post and promote day trading all over the internet? $1 for each post? You should get a job at McDonald's, so you would then at least be doing something good in the community, and you would surely sleep better.

Here's my community work for today. I corrected your English! See what a nice guy I am!!

I am no shame of this because English is not my first language.

Shame on you to post fake fact in intenet, try to promote fake dream (aka day trading) to newbie. This is no different than trying to promote gambling in Internet.

 

[galvinlee888]

Around 1:1, slightly less at times with a winning % between 52-55%

This is quite a small edge with 1:1 ratio, what is the % of commission in each trade?

 

[algofy]

This is quite a small edge with 1:1 ratio, what is the % of commission in each trade?

Agree it is a very small edge. I don't measure % commission and profits and stop locations vary on the trade.

 

[galvinlee888]

Agree it is a very small edge. I don't measure % commission and profits and stop locations vary on the trade.

PM me, lets talk.

 

[Overnight]

Many burn out after making their first million . Boredom sets in.

Reply of the day/thread is right there. ^^^^^^^^^^^^


LOL!

 

[Max E.]

Bingo, Tim Smith just summed it up right here....

IMO 90% of trading is treading water and being in the right mindset to crush the 5-10 trades a month that will make your entire month. If you overtrade, and force things you arent in the right mindset to take advantage of the good ones, you get beaten up too many times chasing shit and you dont wanna really hammer the good ones.

Profitable trading is about grinding, pissing away money on mediocre trades not only bleed your account but they put you in the wrong frame of mind.

One word....

OVERTRADING

They think if they haven't got a trade on they're not trading.
They think cash is not a position.
They think scapling on stupid-short timeframes is the only way to make money.
They over-leverage, make large losses and then burn out trying to chase recovery.
They exemplify everything that is "dumb money"

 

[algofy]

Bingo, Tim Smith just summed it up right here....

IMO 90% of trading is treading water and being in the right mindset to crush the 5-10 trades a month that will make your entire month. If you overtrade, and force things you arent in the right mindset to take advantage of the good ones, you get beaten up too many times chasing shit and you dont wanna really hammer the good ones.

Profitable trading is about grinding, pissing away money on mediocre trades not only bleed your account but they put you in the wrong frame of mind.

That is certainly one way to trade but not the "only" or "best", it's just a method.