DislikedIf you're experiencing more losses then wins then your system/strategy needs changing!Ignored
tradewith60
Why you lose money and will always lose 42 replies
reasons why traders lose 425 replies
Did we Lose any Brokers? Are we going to Lose a few? 1 reply
The one reason that trumps all other reasons why traders lose 262 replies
Real Reasons why Retail Traders lose money 75 replies
DislikedIf you're experiencing more losses then wins then your system/strategy needs changing!Ignored
Dislikedagain most lose because their win rates average out at 50% and there wins are usually smaller or equal to their losses, thats not my opinion thats retail broker data.Ignored
Disliked{quote} Good links, many thanks for sharing. But IMO trading is much more about strategy than mindset. Self-belief and discipline count for nothing if your entries and exits are merely random guesses. You can take mindset out of the equation by simply running an EA, so why isn't every EA profitable? Because it's underlying strategy lacks an edge.Ignored
Disliked{quote} no this statement is simply not correct, fact is that most retail traders lose their accounts because they keep adding into losing positions thinking it will turn until they hit margin call and not because they have a win rate of 50%.Ignored
Disliked{quote} Hi Hanover, I used to think exactly the same way you do, and not long ago. ........Ignored
Disliked{quote} Vox, Sure, it depends on whether one defines "mindset" as the ability to devise a profitable strategy; or the patience, discipline, self-belief etc needed to consistently execute it. Or possibly both. As a developer of automated systems, I find it easy to distinguish between the strategy (devised by the developer) and the execution (performed by the EA). In this case, these are clearly two different disciplines; however, for some discretionary traders, the two may mix somewhat, into a blur. Merry Xmas to you also, and a prosperous 2014....Ignored
Disliked{quote} Sorry you are wrong, broker data says otherwise, it's published and available for anyone to read Based on data from 12 million trades, traders are correct more than 50% of the time but there losers average larger than their winners Let’s use EUR/USD as an example. We know that EUR/USD trades were profitable 59% of the time, but trader losses on EUR/USD were an average of 127 pips while profits were only an average of 65 pips. While traders were correct more than half the time, they lost nearly twice as much on their losing trades as they...Ignored
Disliked{quote} Sorry you are wrong, broker data says otherwise, it's published and available for anyone to read Based on data from 12 million trades, traders are correct more than 50% of the time but there losers average larger than their winners Let’s use EUR/USD as an example. We know that EUR/USD trades were profitable 59% of the time, but trader losses on EUR/USD were an average of 127 pips while profits were only an average of 65 pips. While traders were correct more than half the time, they lost nearly twice as much on their losing trades as they...Ignored
Disliked{quote} Interesting, but not difficult to understand. Once your SL were wiped off few times, you tend to take smaller TP. The loser for sure is more than the winnner, it should about (127+spread)/(65-pread). The figures above can be miss leading, due to they are not weighted. Do you have the weighted figure?Ignored
DislikedI'm fairly sure that in the broker example showing averages of 127 pip losses and 65 pips gains people were not calculating a reasonable RR and certainly not letting their profits run fully. The reason for this may be that many people will use SL's, but then also use 'manual stops' if they get uncomfortable about the loss before it hits the SL, but for the majority of trades, they will let it slide until the SL get's hit. Or worst case, adjust the SL 'just a little bit' to give the trade a bit more room and still get hit, thus increasing the average...Ignored
Disliked{quote} Have you made a mistake here? do you really believe this?Ignored
Disliked{quote} Yes I actually do. I think it's a mental thing but one needs to see a consistent winning ratio - you know you're on the right track even if one may be closing out the trade/s way too early. I might shock a few people here but something I learned from someone else really makes sense. What person would start a business venture without having a business plan? With any new business venture you have to work out your profit/loss ratio to make sure you are going to succeed - you certainly wouldn't get a loan from a bank unless you did! And yet...Ignored
Disliked{quote} No, gamers, gamblers, beginners,... talk in pips per week. Traders, businessmen, professionals,... talk in percents per year.Ignored