DislikedOk, so the OP Cubbybgood has changed the discussion to ..... {quote} .... which is unfortunate because now it's basically a why do traders fail thread which is a bore-fest . Sorry but there is only one answer and it's a simple one. There are broker stats to prove it. A staggering percentage of traders fail because they don't take their profits. They are in the money, leave it and then go in the negative. No exit plan, no money anytime soon. C'mon,.... everyone say it with me.....,"GREED"Ignored
I don't think it's as simple as greed being the blanket response as to why most people don't profit from FX.
There are plenty of stats to say that only 10% of new business startups exist in 12 months.
And again, 10% of those that do exist, fail after 5 years.
Are all of these greedy?
Or, is the fact that these stats: New business failures and FX failures are so closely linked more to do with fundamental behaviors associated with starting any new endeavor?
You read a few generic reasons for new business failures and you could nearly copy paste them into any thread here on FF.
Unrealistic expectations
Incomplete knowledge of the market
Overconfidence
Lack of risk management
Lack of a clear plan.
This has to sound familiar to us right!?
Most people stumble into the FX market via some misleading sales pitch, with $1000 scraped together from savings, or tax refunds...get out the Excel spreadsheet that shows compounded gains at ridiculous growth rates and start planning which month next year they'll quit the day job and buy the Ferrari. This industry has a vested interest in perpetuating that myth.
By the time most realize how far from the truth this all is, they likely ditch the idea and move on to herbalife or some other bullshit get rich quick scheme.
You can blanket label it as greed, but it's more akin to fantasy on the part of the person who thinks that they have stumbled upon the brilliant idea no one else knows about and will show everyone in a few years how clever they are.
I think this game has more to do with ego than pure greed.
Wealth comes from what you keep, not what you earn