Why do traders find it difficult to make money?

W

Waylen

Is making money in forex like getting into the moon? I saw many traders are not well satisfied with their trading result even after better market analysis. How do you think it?
 
Most people don't want to:
  • Think for themselves
  • Accept responsibility for their decisions or indecision
  • Be wrong
  • Lose money
  • Do the actual tedious and boring work
Eg: trade reviews and write ups of every trade at the end of the day, backtesting strategies and variations for weeks only to find they aren't profitable, spending time journaling and increasing self awareness.

Trading is a skill just like anything else.
Practice trading like you would anything else
 
Lack of trading knowledge and experience, poor market analysis, not finding better entry and exit points are factors that keep traders away from making profit in this market.
 
The primary reason is that forex is a negative sum game (when you factor in commissions). So right off the bat, the odds are against you. Then factor in lack of experience and hard work, and most forex newbies are going to lose money.
 
Trading is easy... just click a mouse.

Trading WELL is difficult until properly understood and practiced.

Noobs jump into the markets with their few bucks... with "sugar plumbs dancing in their head". They barely have a clue as what's required to do it well.
 
Because they do not focus on quality and do not sit on their hands. For example there are couple "obvious" trades in a session but they click around and PnL going down. Then they do the review and see what a hell I just did today ... if I just took those clean ones I would end up positive eod
 
1. It's rigged. The is a wiki on Forex Scandal. Still happening?
2. Macro economy - demand vs supply. E.g during the commodity boom, the Aussie dollar was up.
3. Central banks. They do intervention at times.
4. Politics. Currencies control and pegged/unpegged. Suddenly, Swiss franc traders went under. Why Switzerland Scrapped the Euro (investopedia.com)

View from a non forex trader.
 
I have had physicians and brain surgeons tell me what I do is harder than what they do.

For Me, well backtested set of rules, then trade like a robot. After 10,000 trades, it becomes like breathing.
Same patterns, same charting, same risk management....

But most who come to game are bait, think they can overcome everyone.
 
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