Why A Lot Of Traders Fail

xelite777 · Oct 3, 2013

And on that note, I'm off to do something more useful

Like dealing with your margin calls I guess?

Just kidding Ghost of Cutten

kut2k2 · Oct 3, 2013

Quote from SplawnDarts:

People who try to argue with the dictionary are comical. You're not some special princess who gets to make up personal meanings for words. If you want to communicate with the rest of the English speaking world, you have to use the conventional meanings.

I gave solid evidence proving the dictionary is flawed. Not useless but definitely flawed, which means critical thinking is required when using it.

Only Princess SplawnDarts would ignore the actual evidence-based argument made to show her spoiled-brat petulance about nothing pertinent.

kut2k2 · Oct 3, 2013

Quote from HurricaneUS:

It makes me laugh when traders turn their noses down on poker players and other pro gamblers. Poker is a game of skill...just like trading...only a minute few succeed in poker just like in trading...in fact there are likely more successful professional gamblers than successful traders....we are no different than poker players

No wonder you're a raging jackhole. Professional gambler. That explains a lot.

It makes me laugh when idiots screw up the expression 'turn their noses up.'

OddTrader · Oct 22, 2013

Quote from OddTrader:

"
Why do you think you have been successful whereas so many traders fail?

Since I started in the business, I have seen a number of traders who ended up committing suicide or being homeless. The one trait they all shared was that they had a gambler's mentality. When they were losing, they were always looking for that one trade that would make it all back.
"

"
http://www.finalternatives.com/node/24957

Struggling FX Concepts Restructuring In Bid To Survive

Oct 8 2013 | 12:59pm ET

FX Concepts has been battered by poor performance and has suffered an exodus of major clients. And the most recent redemption may put an end to the New York-based firm.

FX, which once managed $14.2 billion, is now scrambling to survive, with chief strategist Robert Savage telling media outlets that almost anything, including a bankruptcy filing, is possible.

"
http://au.news.yahoo.com/a/19326486/

Bob111 · Oct 22, 2013

grinding slowly day after a day is hard and boring..specially when people right next to you making fortunes of this bull market,(that goes up EVERY SINGLE f** day) by doing..well...nothing.

my stuff is specially not motivating..market neutral,not scalable,limited risk, limited reward..but after 10+ years i can't accept a model with a straight, massive directional bet. f** this..back to my grinding..

gmst · Oct 22, 2013

1) cost of business - commissions, spread
2) over trading
3) not having a plan
4) not following the plan

gmst · Oct 22, 2013

Quote from Bob111:

grinding slowly day after a day is hard and boring..specially when people right next to you making fortunes of this bull market,(that goes up EVERY SINGLE f** day) by doing..well...nothing.

my stuff is specially not motivating..market neutral,not scalable,limited risk, limited reward..but after 10+ years i can't accept a model with a straight, massive directional bet. f** this..back to my grinding..

Bob, today we were discussing this in the morning in the TWS thread. I have been thinking on this. Talking especially about you, I think the problem is in mindset. since you have been making money for last 10+ years in a very low risk way, its now just very hard to accept a different mindset of taking directional risk while being not market neutral. But then if you try this approach with very limited downside - say you decide that you going to lose 20k MAX while trying out this approach, starting with X amount only, you might be able to build it to much larger amounts and in the process develop a new style of highly scalable trading.

Just saying bro, I know I am a novice in your comparison but I would say that your mindset is probably the biggest hindrance block in you adapting to the current markets. Disagree with me??

Bob111 · Oct 22, 2013

Quote from gmst:

Bob, today we were discussing this in the morning in the TWS thread. I have been thinking on this. Talking especially about you, I think the problem is in mindset. since you have been making money for last 10+ years in a very low risk way, its now just very hard to accept a different mindset of taking directional risk while being not market neutral. But then if you try this approach with very limited downside - say you decide that you going to lose 20k MAX while trying out this approach, starting with X amount only, you might be able to build it to much larger amounts and in the process develop a new style of highly scalable trading.

Just saying bro, I know I am a novice in your comparison but I would say that your mindset is probably the biggest hindrance block in you adapting to the current markets. Disagree with me??

yes. you are 100% correct. and on top of all this-there a host of other different problems. this is why i shouldn't' blame market or TWS or whatever in other threads. i'm where i'm right now because of me. i know exactly what i suppose to do and what i'm good at,but i'm NOT doing it,hoping(bad word for traders) that volatility(etc) will change and i will continue to make more same way i'm doing i t now. basically-I'm keep kicking my can down the road..