DislikedIt's hard for a new trader to know the difference between crapola and a solid method.Ignored
The breaking of a wave cannot explain the whole sea.
Another reason why 99% of traders fail 63 replies
The one reason that trumps all other reasons why traders lose 262 replies
The reason why 95% of new traders consistantly lose money 203 replies
Why Traders fail despite of good system available here in Forum?? 8 replies
DislikedIt's hard for a new trader to know the difference between crapola and a solid method.Ignored
DislikedTrue, I think it's actually a function of an open mind and logic how quickly one progresses beyond this stage. Beyond the focus on rubbish you have the problem of people becoming irrationally attached to erroneous ideas, people would rather defend rubbish to the bitter end than admit defeat, the whole 'nedging' thing illustrated this beautifully. Another thing which happens commonly is 'groupthink' (J16, Jacko etc).Ignored
DislikedNo dear i dont agree with you...forum does helps people,but one needs commonsense to understand which advice he shud take and which he shud ignoreIgnored
DislikedSadly most people lack any kind of sense and the things being preached and believed in sadly pretty much all of them don't work at all, you can prove it to them and despite there losing money they'll still keep going blaming luck for there losses, ARRRGGGHHHHHHHHHHHHH!!!!!!!!!!!!!
ie Candle Sticks there randomly formed nothing more or less they hold ZERO Predictive Value but pretty much everyone wait on there next H4 candle to show them the way!!Ignored
DislikedExits. That's where your P/L is made. Which defines your Sucess Rate, Profit Factor, Avg. Profit/Loss and in the end your overall profitability.
To get the best Exits psychology is a huge thing too. How good is system that gives the potential to earn 100 Pips each trade with 30 Pips Risk when you exit after 20-30 because you're afraid you might end up with nothing? This way you're going to make you life very hard and you will probably end up losing.
RR doesn't mean anything there no way you can controll it. You can only set your risk the reward...Ignored
Disliked...not sure how accurate these stats are but it probably has something to do with it.
[list][*]42 percent of college graduates never read another book after college. [*]80 percent of U.S. families did not buy or read a book last year. [*]70 percent of U.S. adults have not been in a bookstore in the last five years. [*]57 percent of new books are not read to completion. [*]50...Ignored
Dislikedaahhh that made my day haha
btw, out of those 95%, how many are really traders? Not many. That statistic is BS in my opinion.
Out of hundred, only 5 make it. What constitutes having made it? I know guys in the business who have a mental breakdown and lost everything after 15 years. I know guys who have made a ton in two years, but who's to say that'll hold out? I know guys going strong after 20+ years.
And after that fact, how many of those so called traders burn out after a few years totally. With that in there, I'd like to know that statistic...Ignored
DislikedIn my opinion a great factor in Forex profitability is a system which does not utilise a standard stop loss which puts you out after it is hit.
If a stop loss hit then triggers a justified trade opening in the same direction once the SL is hit then I believe you are already ahead of many that are going to take the loss and be sidelined.Ignored
DislikedAnd as the markets start to open you will see the "interactive trading" forum numbers climb. It will fill with people who are waiting for someone to tell them whether they should be long or short. It's the reason you will see 300-400 people viewing and only about 10-15 posting. The rest are using it as a signal service.Ignored
DislikedIn my opinion a great factor in Forex profitability is a system which does not utilise a standard stop loss which puts you out after it is hit.
If a stop loss hit then triggers a justified trade opening in the same direction once the SL is hit then I believe you are already ahead of many that are going to take the loss and be sidelined.Ignored
DislikedAnd as the markets start to open you will see the "interactive trading" forum numbers climb. It will fill with people who are waiting for someone to tell them whether they should be long or short. It's the reason you will see 300-400 people viewing and only about 10-15 posting. The rest are using it as a signal service.Ignored