Why do 99% of the people who wants to be traders fail?
Not being willing to learn and not persevering after the shock of their first loss trade.
Not being willing to learn and not persevering after the shock of their first loss trade.
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DislikedAlmost all potential traders fail because they don't do a few things:
1. Respect risk and control their lot sizing.
2. Pick a system and timeframe which they have fully practiced and understand.
3. Practice more time on their system then they do actually trading it.Ignored
Dislikedcause 99 % of traders are idiots..
They pay for mentors , and other idiotic things.. trading requires maturity and independence . theres no one to blame but themselves..
im 18 and i trade for a good living . There should be no excuse a teenager can accomplish something you cant .. ..Ignored
Disliked
In order to be a successful FX trader you need to deal with your fears and the greed factor. Ego also plays an amazing part.
I am a well rounded experienced businessman who has had many life experiences. I recall how hard it was to take my first loss in FX trading.
My first live trade was done on March 9, 2006 and I never had even one loss in my first 80 FX trades.
During June 2006, I moved my currency business over to Man Financial Canada and it was in June 2006 that I had my first loss.
Even though the loss was only $100 it was the...Ignored
DislikedI can't imagine it's 99% .....I think a person needs about 3+ years of study and will run across a lot of dead ends before "wow". Now, I know exactly why something or the market did this. Also, is quiting the same as failure. Than that number is probably true... ... I have been at it since 2005,,, for the most part up and down. I am not quitting my quest and enjoying it more and more as I spend more time at it. I have a day job so honestly, I don't care whether I make it or not. If it takes a decade and I develop that perfect ea, its something...Ignored
Disliked99% is nonsense.
According to Oanda mandatory disclosures, anywhere from 30-35% each quarter is profitable
ShamuIgnored
DislikedHello friends,
I have been thinking about this for a long time, yet cannot find THE answer to the question, why does 99% of the people who wants to be traders fail? What is that 1% of people that has it or has figured it out, that we cannot figure it.
After blowing a few accouts, I have been in quest to find the answer. I have read book after books, read blogs after logs, yet none of them really tells you what it is? then again if they know, they might keep it a secrete to benefit them. After all, we are talking about taking somebody else's...Ignored
DislikedI started trading FX during September 2003. I demo traded using $50,000 accounts. I made my first FX trades during March 2006. My first 75 FX trades were all wins. In my first three months of trading I doubled a $25,000 US Dollars account to $50,000. I have managed as much as $250,000 US Dollars at one time. Over 80% of all my FX trades are winning ones. I have had margin calls, I have had EGO issues because of my earning PLUS 25% on managed funds each month of my FX trading career and at times I risked too much capital.
I consider myself based...Ignored