if trading is easier regardless technical/fundamental, can you explain why more than 90% of small traders lose? They just lose!
http://articles.latimes.com/2011/apr/03/business/la-fi-amateur-currency-trading-20110403
Why do 95% of retail traders lose?
- Thread starter fanews
- Start date
if trading is easier regardless technical/fundamental, can you explain why more than 90% of small traders lose? They just lose!
http://articles.latimes.com/2011/apr/03/business/la-fi-amateur-currency-trading-20110403
You are FULL OF IT!
I srarted out with $600.00 about 12 years ago and I am still going strong. I have NEVER blown up my acct. and am doing just fine. You must be one of the losers because you post so much about it. I guess you want to see if anyone else out there is as lousy as you are.
This is an entertaining thread and most of it full of absolute crap by people who have never been successful at trading. As I see it, these are some of the most common traits of traders who fail:
1. They don't know how or when to take a loss.
2. They don't know how or when to take a profit.
3. They are mentally and emotionally unprepared.
4. They don't follow their own rules and lack the discipline needed for trading.
5. They don't have patience and tend to over trade.
6. They don't develop their own trading methodology and rely too much on someone else's method.
7. They haven't conquered fear and greed allowing it to drive their trading decisions.
If you can overcome these bad habits, you can make a pretty decent living. It's not magic, just hard work and enough trust in yourself to know you can make the tough calls when you need to. There are plenty of traders who make a decent living but there are more people who don't want to commit the time, hard work and the absolute discipline it takes to be successful. That's the difference between a pro and a wanna be.
1. They don't know how or when to take a loss.
2. They don't know how or when to take a profit.
3. They are mentally and emotionally unprepared.
4. They don't follow their own rules and lack the discipline needed for trading.
5. They don't have patience and tend to over trade.
6. They don't develop their own trading methodology and rely too much on someone else's method.
7. They haven't conquered fear and greed allowing it to drive their trading decisions.
If you can overcome these bad habits, you can make a pretty decent living. It's not magic, just hard work and enough trust in yourself to know you can make the tough calls when you need to. There are plenty of traders who make a decent living but there are more people who don't want to commit the time, hard work and the absolute discipline it takes to be successful. That's the difference between a pro and a wanna be.
Yeah, and it is related to any kind of human professional activity, not only trading... Some posts in this thread sound like:
"It is impossible to become a successful neuro-surgeon, because I tried to do that for 3 months, my pet rabbit and a few rats died under my scalpel, so I am now sure this is all BS and who say it's possible are scammers trying to convince me go and spend $200K on studying medicine in the university".
Misery loves company.
To become a professional athletic, let say basketball is no difference than becoming a professional trader. What are the step to become a professional basketball? Normally, it all began during high school years. If a kid becomes a all star player in high school, he will proceed to college level if he makes it in the tryout. If a kid becomes a all star college player, he will be one of the first pick in the professional basketball team. That takes 1 in 100 to be in the top 5 first round draft pick. Ask yourself this, when will we see the next michael jordon? When will we see the next magic johnson? How come the entire NBA players can't play like michael jordon, magic johnson, larry bird, oscar robertson, wilt chamberlain, julius erving?
As for trading, why is warren buffet is the richest man on earth? Why can't all traders become like warren buffet, the richest man on earth? This is warren buffet early life:
Buffett's interest in the stock market and investing also dated to his childhood, to the days he spent in the customers' lounge of a regional stock brokerage near the office of his father's own brokerage company. On a trip to New York City at the age of ten, he made a point to visit the New York Stock Exchange. At the age of 11, he bought three shares of Cities Service Preferred for himself, and three for his sister. While in high school he invested in a business owned by his father and bought a farm worked by a tenant farmer. By the time he finished college, Buffett had accumulated more than $90,000 in savings measured in 2009 dollars.
He grew up learning how the house (brokerage) operates making money in the stock market. Can you picture him like any other 90% losers spending incredible money on 3rd party educational vendors before becoming a professional trader?
This is Oscar Robertson early life:
At Crispus Attucks, Robertson's coach was Ray Crowe, whose emphasis on a fundamentally sound game had a positive effect on Robertson's style of play. In 1954, as a sophomore, he starred on an Attucks team that lost in the semi-state finals (state quarterfinals) to eventual state champions Milan, whose story would later be the basis of the 1986 movie classic Hoosiers. But with Robertson leading the team, Crispus Attucks proceeded to dominate its opposition, going 31â1 in 1955 and winning the first state championship for any all-black school in the nation. The following year the team finished with a perfect 31â0 record and won a second straight state title, becoming the first team in Indiana to secure a perfect season along the way to a state-record 45 straight victories. The state championships won by the all-black school were the first-ever for Indianapolis. However, the celebrations were cut short by the city's leaders. The players were driven outside of town to hold their party because, said Robertson in the Indianapolis Star, "They said the blacks are gonna tear up downtown." Robertson was also named Indiana "Mr. Basketball" in 1956, after scoring 24.0 points per game during his senior season.After his graduation that year, Robertson enrolled at the University of Cincinnati.
You notice warren buffet and oscar robertson started their career during HIGH SCHOOL!!!
Remember this well small traders! If you want to win this game, JOIN THE HOUSE!!!!
More than 90% of small traders lose in a "Spectacular Fashion!" They just lose!!!!!
