Why do most traders think that they will become profitable? | Forex Factory

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Why do most traders think that they will become profitable?

  • #1
  • First Post: Jul 23, 2017 4:26pm Jul 23, 2017 4:26pm
I've seen countless threads about "Why do the traders lose". But this thread challenges something more fundamental, and that is - "Why do traders think that they will win ?".
So I ask you this question : Why do you think that you will win? Why do you think that you have more chances than the other approximately 400k members of Forex Factory alone ? Was it the advertisements with sport cars and girls in bikinis? Was it perhaps that your parents told you that you are genius ? Or perhaps you simply have no other option but to win this game ?
The truth is hidden from you
  • #2
  • Jul 23, 2017 4:29pm Jul 23, 2017 4:29pm
And most importantly, why and how are you different from the losers? Don't you have the same understanding of what you call technical analysis ? Don't you make the same excuses? Isn't your comfort zone in sticking to people with the exact same intel on retail trading as you ?
The truth is hidden from you
  • #3
  • Jul 23, 2017 4:35pm Jul 23, 2017 4:35pm
Inserted Video
The truth is hidden from you
  • #4
  • Jul 23, 2017 4:38pm Jul 23, 2017 4:38pm
Because the strategy I found has about 100 years of documented proof, that it works. It worked in the early 1900s, worked throughout the XX. century, and works today. Based on its logic, probably it will work in the future, unless the law of supply and demand stops to exist.

Without this proof, I wouldn't have embarked on this journey, or at least not with this intensity.

Even though I had pretty much everything layed out, it still took me a good 2 years to be able to make it work.

I KNOW FOR SURE that I have an edge. When it didn't work, I knew that the reason is not that the strategy is wrong, but instead I was not skilled enough to make it work.

I differ from the losers, because I know I can put in the work. I proved it to myself earlier through different ventures, so I had the confidence that I can make the strategy work. Even though I asked myself, when it wasn't working, if I am just simply too stupid, or too untalented to make it work. I couldn't blame the strategy, I had the evidence, that it worked for others well earlier, so I had to persevere, otherwise it would have meant, that I'm not good enough for trading.
Price and volume reveals everything. The market moves on supply and demand.
  • #5
  • Jul 23, 2017 4:41pm Jul 23, 2017 4:41pm
Quoting Darastonius
Because the strategy I found has about 100 years of documented proof, that it works. It worked in the early 1900s, worked throughout the XX. century, and works today. Based on its logic, probably it will work in the future, unless the law of supply and demand stops to exist. Without this proof, I wouldn't have embarked on this journey, or at least not with this intensity. Even though I had pretty much everything layed out, it still took me a good 2 years to be able to make it work. I KNOW FOR SURE that I have an edge. When it didn't work, I knew...
That is certainly a powerful statement, not something I see everyday. May fortune follow you on your path to success, to the point that you won't even require it anymore.
The truth is hidden from you
  • #6
  • Jul 23, 2017 5:41pm Jul 23, 2017 5:41pm
Just take a look into the "Interactive Trading" and "Trading Journals" section.
If you think, do and trade similar to any of this, then you're pretty much fu*ked.
  • #7
  • Jul 23, 2017 8:24pm Jul 23, 2017 8:24pm
Quoting MaxenshteinD
I've seen countless threads about "Why do the traders lose". But this thread challenges something more fundamental, and that is - "Why do traders think that they will win ?". So I ask you this question : Why do you think that you will win? Why do you think that you have more chances than the other approximately 400k members of Forex Factory alone ? Was it the advertisements with sport cars and girls in bikinis? Was it perhaps that your parents told you that you are genius ? Or perhaps you simply have no other option but to win this game ?
Good questions MaxenshteinD,

"Why do traders think that they will win ?" I believe I will win because I know I need to find an edge/strategy(s) that I have proof that worked in history. And i will not trade real capital until this is done. I believe I have organizing skills and persistence to produce a profitable trading systems. My edge now is keeping my trading cost at $0 (besides a good book) until I learn what to do for myself.

Why do you think that you have more chances than the other approximately 400k members of Forex Factory alone ? I don't know cause I don't other experiences, I only know my own. I have not won yet, but I am close.
  • #8
  • Edited 11:50pm Jul 23, 2017 10:48pm | Edited 11:50pm
If you think you can, or think you cannot, then you are correct. Applies to everything in life. Winners think they can, losers think they cannot.
You cannot be extraordinary by being normal
  • #9
  • Jul 24, 2017 1:07am Jul 24, 2017 1:07am
Because there is no point in continuing with any endeavor if you do not believe you will be successful.
  • #10
  • Jul 24, 2017 1:12am Jul 24, 2017 1:12am
Quoting The-Flipper
Just take a look into the "Interactive Trading" and "Trading Journals" section. If you think, do and trade similar to any of this, then you're pretty much fu*ked.
There might be some good stuff there too.
You make it sound like all threads belong to losers, and that isn't the case I think.
Personal bias disagreeing with this or that has not much influence over others reality.
Even trading for a "living" means different expectations, as living cost is different for everyone, just as needs too.
there is always, always another trade!!
  • #11
  • Jul 24, 2017 1:54am Jul 24, 2017 1:54am
Following that train of thought, why try anything that we might fail at? Why stretch ourselves? If we did not dare to try new and seemingly impossible things, we would still be sitting around in caves, painting indistinctive paintings on it's walls.

Why are thousand of athletes push themselves each day to become professionals even though only a handful of them ever make it? In any given field, only a few people will ever achieve anything worth mentioning.
Invincibility lies in the defence; the possibility of victory in the attack
  • #12
  • Jul 24, 2017 2:35am Jul 24, 2017 2:35am
Why do you still trade if you don't think you will be successful ?
  • #13
  • Jul 24, 2017 2:50am Jul 24, 2017 2:50am
Or perhaps you simply have no other option but to win this game ?
most people feels that they didn't have any chance. just like when they start new business, they require to buy tools, rent space, etc. this require learning curve and balance sheet to keep the job running. and then they have competition that can crush their effort.
compared to forex that we can try with one time deposit, magical strategy to choose from (graphic/ price action, fundamental, or just follow somebody else), and we can pause by not trading and resume without penalty (no customer to keep). and no identified competitor to kill.
it is a very attractive way of work.

after you grow old, and failed in business for dozen of time, a few times of margin call is nothing. the problem is when we start to learn nothing from our loss, as beyond that is pure gamble zone.
  • #14
  • Jul 24, 2017 3:28am Jul 24, 2017 3:28am
Its good and interesting to see how diversified the replies are on this thread. Furthermore it seems that different people managed to see the exact words I wrote in the begging- differently.
The truth is hidden from you
  • #15
  • Jul 24, 2017 4:04am Jul 24, 2017 4:04am
Quoting MaxenshteinD
I've seen countless threads about "Why do the traders lose". But this thread challenges something more fundamental, and that is - "Why do traders think that they will win ?". So I ask you this question : Why do you think that you will win? Why do you think that you have more chances than the other approximately 400k members of Forex Factory alone ? Was it the advertisements with sport cars and girls in bikinis? Was it perhaps that your parents told you that you are genius ? Or perhaps you simply have no other option but to win this game ?
When you practice something, you become better at it.
All professional athletes train. Not everybody has the genetics/personality to become a professional athlete, however, almost everybody should be able to improve their performance with dedicated practice. Perhaps in the end one does not become the marathon world champion (or Paul Tudor Jones), but has the stamina to run that 10k race, or perhaps just doesn't get sweaty when going up two flights of stairs.

k
  • #16
  • Jul 24, 2017 4:56am Jul 24, 2017 4:56am
But you're not a professional athlete you're larping keyboard warrior.
  • #17
  • Jul 24, 2017 5:16am Jul 24, 2017 5:16am
Because all humans wants to win, and want to believe that they will win. even non believer or an atheist want to believe in some thing which will make him keep going.
  • #18
  • Jul 24, 2017 5:16am Jul 24, 2017 5:16am
Quoting player1pl
But you're not a professional athlete
True. I do this. I got my beers in Prague for the money I earned in May.

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k
  • #19
  • Jul 24, 2017 5:20am Jul 24, 2017 5:20am
Quoting MaxenshteinD
...Or perhaps you simply have no other option but to win this game ?
That's mainly the reason for me. If I don't succeed, I don't eat. It's necessity. I don't have my parents or come cushy job or substantial savings to fall back on. I play with my back against the wall. Being uncomfortable, that brings out the best in me. Also, it helps to have had success in stock market before transitioning to FX.
  • #20
  • Jul 24, 2017 8:53am Jul 24, 2017 8:53am
"Why do most traders think that they will become profitable?"

If you consider this question from a statistical view you have to see that this sample (the people on forum) is very biased. If somebody realize that he can't be profitable will give up using the forum and forex (most of them). So you meet the winners and the losers, who didn't lose enough to recognize, that they are losers. You don't meet the losers, because they are doing something else.
Only my scepticism keep me from being an atheist. Be sceptic ever.
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