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Attachments: The one reason that trumps all other reasons why traders lose
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The one reason that trumps all other reasons why traders lose

  • Post #1
  • Quote
  • First Post: Dec 2, 2013 11:25pm Dec 2, 2013 11:25pm
Some say it is improper risk/reward ratio, not letting winners ride, over trading, starting with too small of an account, distractions, not having the right system, not doing enough homework, not keeping a journal, using scared money and all of them are correct. But none of them encompass the whole picture! I've heard every reason possible in my 17 years trading on the Internet. Not one person to my knowledge has ever mentioned the one thing all "Market Wizards" and Pros who are around year after year, the one thing they have and use that 99.7% of us do not. GUESS WHAT THE ONE THING IS? I will not reveal it until someone guesses it, as I want to see who is serious about learning what it is. Meanwhile let us have fun looking at all the different answers that pile up each day on this thread. Maybe one of you will come up with even a better answer than mine. GO FOR IT! We are all here to learn. Maybe this thread will become infinite with all kinds of great answers. But what is mine???

Hint: I will give hints every so often if nobody is getting close. Remember I am talking about pros who can "depend" on trading to feed their family in up, down and sideways markets, not guys who got lucky in one bull market run that lasted 3 years!
One reason or thing, and one line per post, please. You can post as often as you like. Please keep all silly, negative or derogatory comments for another thread.
It's a bit vague and individual in my opinion but personally it has allot to do with timing.
The second I started using market orders on pre-defined levels that have proven to be successful in the past my equity turned for the better. Manual opening is always subject to emotions (entering to early most of the time).

I do however not see this at the main reason. A main reason would simply be having faith in yourself/conducting your own research and make a system based around it on your own results. Honestly, as I see it 90% are simply following each other.
Quoting Silat50
One reason or thing, and one line per post, please. You can post as often as you like. Please keep all silly, negative or derogatory comments for another thread.
Because they fail to practice a single methodology regardless of timeframe. ????
When the Joker is in the deck.. fear not and play it well
In a word....discipline. Regardless of your trading style, method, or money management if you don'thave and use discipline, the whole shootin' match is a lost cause.
  • Post #6
  • Quote
  • Edited at 12:30am Dec 3, 2013 12:20am | Edited at 12:30am
Hi Silat,

My take #1 is that the majority does not have an understanding of crowd psychology.

I believe this might be what you were thinking. Or not LOL. Anyway, I personally don't think this is the single most important thing that long-term successful traders have in common.
"To hold, you must first open your hand. Let go." - Lao Tzu
For me economics understanding(fundamental analysis) is most important for trading right.
Fail to see and fail to listen that is why we goes against trend.
You must first consider "rules" ??

Quoting Silat50
One reason or thing, and one line per post,
?
When the Joker is in the deck.. fear not and play it well
They know what 99% don't.
and no i am not talking about the market wizards type of traders but the real multimillionaire/billionaire private traders which none of us would ever hear about as they won't go out in magazines. They have no interest with sharing as they know an edge(liquidity) could be lost if everyone knows about it. These traders understand the intricacies of the market.
Quoting Supertrader9
They know what 99% don't. and no i am not talking about the market wizards type of traders but the real multimillionaire/billionaire private traders which none of us would ever hear about as they won't go out in magazines. They have no interest with sharing as they know an edge(liquidity) could be lost if everyone knows about it. These traders understand the intricacies of the market.

Do you not understand what this means ????

Quoting Silat50
One reason or thing, and one line per post,
When the Joker is in the deck.. fear not and play it well
I think it is simple. Plan the trade and trade the plan. If you now what you are going to do before it happens then you wont fall victim to emotional or irrational decisions.
A hint to start things off would be cool. There are lots of things not mentioned often.

One is a mental map of the market...
SPC * Swollen PocketZ Crew!
Quoting capitulation
I think it is simple. Plan the trade and trade the plan. If you now what you are going to do before it happens then you wont fall victim to emotional or irrational decisions.
And the ONE SINGLE THING is....What ???
When the Joker is in the deck.. fear not and play it well
Other people's money...
SPC * Swollen PocketZ Crew!
Quoting Slim Buffett
You must first consider "rules" ?? {quote} ?
Hehe... that probably was the hint.

Absence of mental focus to validate all relevant criteria before entering or during trade and execute accordingly.
Quoting grin
{quote} . Absence of mental focus to validate all relevant criteria before entering or during trade.
I like that one. I find that I'm often" absent" in the worst of times.
When the Joker is in the deck.. fear not and play it well
Capital.
Howlin' at the Moon on the Roof
Quoting capitulation
I think it is simple. Plan the trade and trade the plan. If you now what you are going to do before it happens then you wont fall victim to emotional or irrational decisions.
I agree with capitulation the discipline to 'plan the trade..the plan.'
'Lead, follow or get out of my way!'
Quoting Silat50
Some say it is improper risk/reward ratio, not letting winners ride, over trading, starting with too small of an account, distractions, not having the right system, not doing enough homework, not keeping a journal, using scared money and all of them are correct. But none of them encompass the whole picture! I've heard every reason possible in my 17 years trading on the Internet. Not one person to my knowledge has ever mentioned the one thing all "Market Wizards" and Pros who are around year after year, the one thing they have and use that 99.7%...
Experience (or lack thereof)
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