Why most 'traders' fail | Forex Factory

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Why most 'traders' fail

  • #1
  • First Post: Nov 16, 2009 6:32pm Nov 16, 2009 6:32pm
http://www.marktaw.com/Work_and_Busi...sses-Fail.html

just replace 'running a business' with 'becoming a trader'

i think this applies to traders too. Traders monitor their cost=spread, competition (other traders), psychology of running a business/trading, and last but not least having patience and discipline to see it through profitability.
  • #2
  • Nov 16, 2009 7:09pm Nov 16, 2009 7:09pm
Trading is very tough...I have been doing it for last 2 months and i have not lost anything but i have not gained that much too.

I am a student, so i tried trading to see whether it can work as a full time option but now i am seriously thinking to take up a full time job after completing studies and do trading in free time.

Also i have realised anything less then 1 H is difficult to trade. I have been trading on 5 M and 15 M charts and trend changes on those charts superfast.

It amazes me how few traders end up making lot of money in trading.
  • #3
  • Nov 17, 2009 11:03am Nov 17, 2009 11:03am
Quoting kingfisher
Trading is very tough...I have been doing it for last 2 months and i have not lost anything but i have not gained that much too.
If you find trading tough after two months, you have some surprises ahead :=)
Measure twice, cut once
  • #4
  • Nov 19, 2009 12:50am Nov 19, 2009 12:50am
Very good read Hilmy.
Not all sins are created equal
  • #5
  • Nov 22, 2009 4:47pm Nov 22, 2009 4:47pm
Thanks for the link and coffee shop story is pretty amusing as well.
Don't wish it were easier, wish you were better. ~ Jim Rohn
  • #6
  • Feb 25, 2015 5:43am Feb 25, 2015 5:43am
Great article, thanks for the share!
It's all psychology...
  • #7
  • Aug 18, 2017 7:08am Aug 18, 2017 7:08am
Consider for a moment if every trader followed the rule of not risking more than 1% of their account per trade and used similar strategies toted by professionals. Stop loss orders would trigger all over the place and prices would inflate and deflate. Everyone trying to do the same “right” thing creates the same market movements as everyone doing their own “wrong” thing. This is why most traders lose money and it is the paradox traders must overcome.
  • #8
  • Aug 18, 2017 7:13am Aug 18, 2017 7:13am
Quoting hilmy83
http://www.marktaw.com/Work_and_Busi...sses-Fail.html just replace 'running a business' with 'becoming a trader' i think this applies to traders too. Traders monitor their cost=spread, competition (other traders), psychology of running a business/trading, and last but not least having patience and discipline to see it through profitability.
apparently Amazon bought out www.marktaw.com

must've been a REAAAALLLLLLY great article...

damn..can't even go back to it now...
  • #9
  • Aug 18, 2017 4:58pm Aug 18, 2017 4:58pm
Quoting aediaz1
{quote} If you find trading tough after two months, you have some surprises ahead :=)
actually its way better to find it tough after 2 months than years down the road, thats just how the market is
  • #10
  • Aug 19, 2017 3:37pm Aug 19, 2017 3:37pm
Quoting faisal13
Consider for a moment if every trader followed the rule of not risking more than 1% of their account per trade and used similar strategies toted by professionals. Stop loss orders would trigger all over the place and prices would inflate and deflate. Everyone trying to do the same “right” thing creates the same market movements as everyone doing their own “wrong” thing. This is why most traders lose money and it is the paradox traders must overcome.
I made $100 this year by risking 100%/ trade, wth are you talking about noob

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  • #11
  • Aug 19, 2017 4:02pm Aug 19, 2017 4:02pm
Quoting HeyYou
{quote} I made $100 this year by risking 100%/ trade, wth are you talking about noob {image}
btw this is supposed to be for fun... I have improved my strategies a lot motherf***er
  • #12
  • Aug 19, 2017 4:22pm Aug 19, 2017 4:22pm
Totally Agree,
Business Mentality
Frank Fadi
  • #13
  • Last Post: Aug 19, 2017 6:13pm Aug 19, 2017 6:13pm
Quoting faisal13
Consider for a moment if every trader followed the rule of not risking more than 1% of their account per trade and used similar strategies toted by professionals. Stop loss orders would trigger all over the place and prices would inflate and deflate

Where you live, maybe - but not so much on this planet.

Over here, changes in position-sizes wouldn't lead to any changes in the frequency of stop losses being hit at all.
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