IMO 95%-99% of posters on trading related forums, don't have the faintest semblance of a clue of what they're talking about.
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DislikedThe 95% figure could very easily be the case IMO.
If forums are any indication at all of the way people view the markets and thus trade the markets then probably more like 99%.
So much of the thinking and analysis is just chasing shadows and is, at least, "once removed" from what the market's doing real-time.
Fine with me. Analyze away and keep pouring money into the pool!Ignored
DislikedHow many people join gyms, start other types of exercise only to stop before achieving their goals! Probably about 95%!
None of this means that you or I can't achieve our goals!!!!
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DislikedIf 95% of the traders lose, please explain this to me.
It is commonly believed that the market acts according to the expectations of all the participants. If everyone believes that the market is going up and buys, then it is going up. Now, if 95% of the traders are wrong, that means they are betting against the market.
But isn't 95% of the participants would be enough to move the market in any direction that they think is right?
Either the number of 95% traders wrong, or the markets do not work the way we think.
Otherwise, the statistics...Ignored
Dislikedthe sky is also blue. check the sky at midday and also at midnight to confirm this to be a completely true and complete statement.
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DislikedIf 95% of the traders lose, please explain this to me.
It is commonly believed that the market acts according to the expectations of all the participants. If everyone believes that the market is going up and buys, then it is going up. Now, if 95% of the traders are wrong, that means they are betting against the market.
But isn't 95% of the participants would be enough to move the market in any direction that they think is right?
Either the number of 95% traders wrong, or the markets do not work the way we think.
Otherwise, the statistics...Ignored
Quoting GedDislikedIn forex trading you'll never become a successful profitable trader long term because it is a negative expectation game that will kill your purse no matter how you vary your play. You can't beat the odds. Only forex brokers are winning constantly, because you are donating your money to them again and again until you're broke or tired of this nonsence. You can win short term but in the long term you will lose inevitably. Trends are only illusion that fools your mind. Better try your luck in stock market where you may have a positive expectation. Trends work in stock market. Here they are not.Ignored
DislikedIt can take 5 years or more to get good at FX; 95% of most people probably think they can be consistently profitable in 6 months or less (definitely not longer than a year). 95% of most folks cannot accept this reality. Also, a lot of the things that it takes to be successful at FX are things that go against the basic principles that you grew up with. Especially when it comes to dealing with loss and risk.Ignored
DislikedI do agree with that many people do not devote enough time to becoming good at trading, but I wouldn't say it should take 5 years, if you are making an appropriate effort.
In most professions, it takes about two years to become sufficiently skilled, I do not see trading to be that different, in fact I think that is one of the simpler jobs you could pick up, at least you don't have to spend four years in college in order to get started at it.
But then, we are talking about two year of full time work, before one gains a level of expertise in what...Ignored
DislikedGetting a competent mentor would be probably a solid solution, too bad very few can find one, but then you could say that market is the best mentor, if you have flaws in your trading, it will surface them very quickly, one only needs to listen and react appropriately.
Getting back to the topic, there is absolutely no way one can start at something and be good at it, which in trading unfotunately means losing money. Even if one is profitable, even that it still does not mean they never lose. There is this guy, a trading advisor, that I mildly...Ignored
QuoteDislikedso is 95% losers a myth or does currensee have better traders?