The number one reason for failure in forex is an inability to understand the meaning of an edge and how to use it. Joe Public can't stand losing. They don't understand that trading is a game of probabilities. They are constantly searching for a system that wins all the time and we all know this doesn't exist.
Any strategy will, at some time, have a long losing streak. When it happens they either abandon a good system (usually just before it goes on an even longer winning streak) or they go bust. This is the reality of probability. The vast majority of traders are incapable of sticking with a system through a losing run.
So the key is to stick with it.-> You make money with 40% wins with 2:1 RR.
POSITIVE EXPECTANCY - FIND SOMETHING THAT WORKS, VALIDATE IT AND DO IT. PLACE THE TRADE AND WALK AWAY. THINK NEXT THE 1000 TRADES!
Do the same thing on every trade. Keep records. Try to improve.
Any strategy will, at some time, have a long losing streak. When it happens they either abandon a good system (usually just before it goes on an even longer winning streak) or they go bust. This is the reality of probability. The vast majority of traders are incapable of sticking with a system through a losing run.
So the key is to stick with it.-> You make money with 40% wins with 2:1 RR.
POSITIVE EXPECTANCY - FIND SOMETHING THAT WORKS, VALIDATE IT AND DO IT. PLACE THE TRADE AND WALK AWAY. THINK NEXT THE 1000 TRADES!
Do the same thing on every trade. Keep records. Try to improve.