well. there're many problems.... anyway, thank you.
Why do more than 90% of traders lose?
- Thread starter emg
- Start date
we know nothing about what other people make or do not make...
but i have a feelingthat the numbers of consistent traders approaching zero, and definitely not 10%.
10% is something invented by the industry or wannabes, in order to have something tangible to hold-on to....
reality imho is much much grimmer
imho most of so-called successful traders just masturbate on market, while sitting either on pension, either on wife's neck, either on disability, or on some other sources of income which hold them afloat
)) they share their experience and talk like they earn much money, exactly number 10 -15% monthly. Ok. I'll stop believe in this.How many traders are telling you this? This isn't a common performance, but there are traders out there that can do this. Just focus on your own journey...don't worry about anybody else...if you do, it can cause emotional trading...bad stuff!
agree
nobody worries about nobody
it just that many people want to have a confirmation that what they try to archive is achievable at all, they want see in the success (or perceived success) of others the possibility of their own success
but they ask a wrong question, and a wrong person
Instead of asking others "Can it be done?", they should ask themselves "Can it be done by me?" and the answer should be - yes !
Lats assume that nobody made it before , lets assume that there were no successful consistent traders at all..
so what? even better
this is an enterprise for the discoverers, explorers, pioneers, for the people who want to step in the unknown, even if where nobody stepped before, people whose believe in themselves comes not from what others did or did nor do, not even from what them themselves archived before (since often it's irrelevant) it comes form the irrational self-believe
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I read it in forex forum. anyway, thanks for your advice.
Almost all billionaires are people who achieved something that statistically was almost impossible.
Going from zero to a billionnaire is statistically almost impossible. That's a good example. Gates, Zuckerberg, Dell, Koum, Dorsey...
You should try to do something that statistically it almost impossible.
If you try to do something that everybody can, there will be less potential profits as profits should be shared between those who can what you can. The less people who can do what you can do the better for you. You can dictate prices and take all the profits.
So daytrading is a good idea because most people lose and a few get very rich.
Going from zero to a billionnaire is statistically almost impossible. That's a good example. Gates, Zuckerberg, Dell, Koum, Dorsey...
You should try to do something that statistically it almost impossible.
If you try to do something that everybody can, there will be less potential profits as profits should be shared between those who can what you can. The less people who can do what you can do the better for you. You can dictate prices and take all the profits.
So daytrading is a good idea because most people lose and a few get very rich.
First part of post is brilliant. The part about day trading is not. Your broker is daytrading against you and so is every algo and HFT. You are not doing anything unique. The odds is with the algos.
Not important who trades against me, I trade the ES so my broker cannot trade against me. Years ago I traded Forex, and yes that was against my broker. But I became smarter with the years.
My order goes directly in the market, not in the book of the broker. If you trade you always have a counterparty, broker, HFT or anybody else. I don't care as long as I make good money. As I take consistently money out of the market, somebody else should lose that money. The odds are with my algos.
In daytrading you should be part of the 10%, just like the small group that became billionnaire.
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The market is full of conflicts constantly, but in essential, just two big camps, buy or sell, they play each other, but because the speeds and volumes of these two big groups are changing dynamically and there are lots of manipulating, more complex price movement patterns and behavior show up. The smarter retail traders profit consistently because they know how to see through all the traps and camouflages and choose the right side most of the time; the less smart traders then need a lot of luck and are at market's mercy, that is why for those people, sometime they make a lot of money but sometime they lost a lot of money, because they can only see/grasp the price movement/trending/direction on the surface based on the TA/indicators/system they use.
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