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Why 98% Of All Day-traders Fail 30 replies

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Why 95% Of All Traders Fail

Quoting Copernicus
Why Most Traders Fail? One of the things to consider is to realise that trading like any business has a range of products (trading strategies) that have a lifecycle that span the period where market conditions are favourable or when your system is capable of exploting alpha opportunities. Market conditions are dynamic and any arbitrage opportunities that may temporarily exist in efficient markets is quickly exploited. For example, you conduct a backtest over the past 10 years or so and find that a particular trading strategy displayed strong performance...
Traders do not fail because they don't run this activity as a business.
BTW it's not a business, it's just glorified gambling, therefore at best Retail Forex is the business of gambling.
No.
Retail traders fails simply because it is their job/duty/purpose/mission/drive to fail.
The market simply cannot function if the majority wins.
Not only due to lack of real trading knowledge but also due to lack of exact trading discipline , proper risk and money management, trading with emotions , don’t use stop loss and much reasons are responsible for losing 90% traders in this trading stage.
I have to go with trading is like a business and it is not gambling even Vegas I mean the principle go for volume meaning the more people play the game the more they make base on house advantage. So if u treat you trading like a business then you have found the Holy Grail.
Self discipline It is a practice
Most forex traders tend to lose their hard earned money. Not because these traders are smart or confident.
But rather, they are regularly affected by the excitement of the moment, the thrill of an unfolding move, & the worry that they will blow a trade that seems certain be won.
  • Post #125
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  • Edited 11:31am Jun 18, 2017 11:01am | Edited 11:31am
Top Reasons Traders Fail:
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For the bald guy the reason is patience ~03:35, 05:35 and 07:00...
95% fail?

Numbers can be easily taken for granted; perhaps a graphic creates more meaningful impression:
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No strategy no edge
I think it can be summed up as others have said earlier in the thread. Trading is a business. Many traders fail due to the same reason that most start up businesses fail. The barriers to entry are just pretty low in trading so people think it's easy and don't approach it with the same discipline. They soon discover that it's not and most blow their accounts and out and quit.
Because 95 % are sheep, they just need to follow. Add some greed and fear and there you go. 95 % refuse to believe that this is a hard job that need a lot of time and dedication to master.
Quoting DwainUK
Because 95 % are sheep, they just need to follow. Add some greed and fear and there you go. 95 % refuse to believe that this is a hard job that need a lot of time and dedication to master.
Bingo. I wish I could remember what trader had said this quote again but it said "trading is the hardest easy way to make money"
I bet these 95% just can't see the situation from the other side. Only one viewpoint, no strategic thinking at all. It may be also caused by the fact that there are too much details one needs to consider... It leads to confusion and wrong decisions, that's all
Quoting JamesFx007
Most forex traders tend to lose their hard earned money. Not because these traders are smart or confident. But rather, they are regularly affected by the excitement of the moment, the thrill of an unfolding move, & the worry that they will blow a trade that seems certain be won.
Your description about failing actually focus on emotions which is manly considered the reason of losing. Newcomers always affected by this common human nature when trading practically. So we have to remove this immature nature for make sure healthy trading life with certainly.
Really you added most 7 reasons of losing money into Forex! Here I want to talk about your 2nd point, I mean lack of education! Forex education is the core point of trading success! No one can success here without trading knowledge!
In the present world Forex is most difficult market . it is not easy as A,B.C . this trading field works for passionate people. Who know the reality of this business. I must say Forex is not impossible if anyone want to work with it. It need hard work for making money.
You are right, maximum Forex traders are losers! Basically, traders start their trading career with a big hope! They want to make instant result here! As a result, they start live trading even though they have no trading plan and trading system! Without proper trading system it’s quite impossible to be a successful Forex trader!
If you respect your tried and tested methodology and trade it objectively, then there is no reason wy you cant be successful. I only came to realisation that my psychology was the one causing me the problem.

Having taken the steps, my trading has improved.

focus on improving the management of your emotions and the rest will look after itself.

This guy blogs about this sort of stuff, its a good read.

https://www.tradersreality.com/

Happy Trading
If there is no enemy within, the enemy outside can do us no harm...
Quoting iscalp
If you respect your tried and tested methodology and trade it objectively, then there is no reason wy you cant be successful. I only came to realisation that my psychology was the one causing me the problem. Having taken the steps, my trading has improved. focus on improving the management of your emotions and the rest will look after itself. This guy blogs about this sort of stuff, its a good read. https://www.tradersreality.com/ Happy Trading
I agree at your point, practice and tested methodology. But you have seen we beginners never like to practice for long time, just always try to earn profit quickly by short time learning. But good trading knowledge as well real market experience can’t be achieved without passing a long time. so we have to be patience first of all.
Quoting alextrader79
I bet these 95% just can't see the situation from the other side. Only one viewpoint, no strategic thinking at all. It may be also caused by the fact that there are too much details one needs to consider... It leads to confusion and wrong decisions, that's all
That does happen sometimes. Sometimes people lose money because they get defrauded, sometimes because they lacked knowledge and experience, and then they look for a scapegoat to blame for their own flaws, like these Chinese traders did – they actually invaded their broker’s office and took the employees hostage because they lost money on the market.

My advice is, if you lose money and if the problem isn’t that your broker did something illegal, look into yourself and your actions. Look what you did wrong and try to do it better next time.
No proper education and guidance.

We will definitely lost in the forex.
Let Market Tell You
Quoting Monokl
No proper education and guidance. We will definitely lost in the forex.
Despite of good education that’s not possible to lead a comfortable trading life with certainly if you don’t have a proper trading discipline with great patience.
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