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do you think trading is really that hard? 42 replies

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Is trading really that hard?

You have already given the answer of your question. The quote you mentioned from Al Brooke says everything. He said for obtaining a professional degree you have to go college for years. Then in some professions you need to do internship. But when it comes to trading people are not willing to dedicate their time labour. Trading is easy if you are willing to give enough time for learning. How much time it will vary from person to person as everyone's learning capacity is different.
Trading hard or easier it completely depends on our trading approach, if we have most powerful analyzing trading strategies with good money managing plan, of course trading can be easier and we can get maximal result by our trading strategies.
Quoting JonathanHob
You have already given the answer of your question. The quote you mentioned from Al Brooke says everything. He said for obtaining a professional degree you have to go college for years. Then in some professions you need to do internship. But when it comes to trading people are not willing to dedicate their time labour. Trading is easy if you are willing to give enough time for learning. How much time it will vary from person to person as everyone's learning capacity is different.
That is a great point. Learning how to trade well really is like getting a college or university degree, it requires years of effort and study and people should not underestimate it.
Trading gets so difficult when we change patterns, trading styles, indicators etc... It gets more difficult when there is no good MM (My opinion)
Okechukwu Jacob.C.
if you have a good plan and a lot of money and ....... but your mind is engaged, so you are a loser. because 80% of trading is psychology.
every trader with a calm mind, can win. i think trading is easy if you relax and logical and Low expectation.
Never despair
Quoting jacobokey12
Trading gets so difficult when we change patterns, trading styles, indicators etc... It gets more difficult when there is no good MM (My opinion)
Nice point , trading is comfortable or not it completely depends on your money managing approach, so, besides acquiring good knowledge and experience we have to ensure how to manage money accurately.
Short answer, yes trading is difficult and it's due to a whole host of reasons:

 

  1. It's tough admitting when we're wrong.
  2. Even more difficult to lose money when we're wrong.
  3. We have to adapt to changes and variables we have no control over.
  4. We have to constantly fight greed


The most intelligent people I know are some of the worst traders. They think they know everything, they believe they are always right, they've rarely failed in other endeavors, they often feel they know better than the market. All a recipe for disaster and a humbling experience that is trading.

You have to respect good, profitable traders for these reasons, they've found a way to deal with all these challenges that a majority of people will never be able to.

Quoting fxmetadroid
Even more difficult to lose money when we're wrong.
Can you please elaborate this point?
Quoting DarrenLehma
{quote} Can you please elaborate this point?
I don't get it either, to be honest.
Neither do I
Okechukwu Jacob.C.
Trading is not so hard if you do the following

1/ ADAPT TO THE STRONG/WEAK
2/ WALK AWAY FROM A WINNING TRADE
3/ TRADE AT THE RIGHT TIME
4/ REACT TO LOSS IN THE CORRECT MANNER
5/ LEARN HOW TO IDENTIFY A TREND AND AVOID RANGING OR CHOPPY TRADING PAIR ON THE DAY.

I will elaborate:

1/ So many small traders just trade the same pairs usually it's USDJPY and EURUSD. BIG mistake. Only trade the strongest/weakest currencies on the day.
2/ When you set your trade and you see it's doing OK, set a reasonable TP and walk away!
3/ Most small traders (possibly because the majority live in the US?) are trading at the times with SL/liquidity hunting by the big boys is at the highest level.
4/ Unfortunately, because the Forex Market is not a level playing field, no matter how good your system is you will get a loss. How you REACT will determine
whether you succeed at this game or not. Most will try to regain the loss immediately. The CLEVER will go play golf and come back tomorrow when they can think clearly again and not impulsively.
5/ Most important thing to learn is how to identify a trend and avoid choppy price action - "the trend is your friend" is so very true!
Quoting jmtini
Trading is not so hard if you do the following 1/ ADAPT TO THE STRONG/WEAK 2/ WALK AWAY FROM A WINNING TRADE 3/ TRADE AT THE RIGHT TIME 4/ REACT TO LOSS IN THE CORRECT MANNER 5/ LEARN HOW TO IDENTIFY A TREND AND AVOID RANGING OR CHOPPY TRADING PAIR ON THE DAY. I will elaborate: 1/ So many small traders just trade the same pairs usually it's USDJPY and EURUSD. BIG mistake. Only trade the strongest/weakest currencies on the day. 2/ When you set your trade and you see it's doing OK, set a reasonable TP and walk away! 3/ Most small traders (possibly...
True indeed. It's about dealing with your own demons.
Quoting jmtini
Trading is not so hard if you do the following 1/ ADAPT TO THE STRONG/WEAK 2/ WALK AWAY FROM A WINNING TRADE 3/ TRADE AT THE RIGHT TIME 4/ REACT TO LOSS IN THE CORRECT MANNER 5/ LEARN HOW TO IDENTIFY A TREND AND AVOID RANGING OR CHOPPY TRADING PAIR ON THE DAY. I will elaborate: 1/ So many small traders just trade the same pairs usually it's USDJPY and EURUSD. BIG mistake. Only trade the strongest/weakest currencies on the day. 2/ When you set your trade and you see it's doing OK, set a reasonable TP and walk away! 3/ Most small traders (possibly...
I couldn't agree more, especially with the closing a winning trade part. Getting greedy and not closing a trade on time is always a recipe for disaster.
If you know what you are doing, itīs "easy". If you donīt know what you are doing, itīs hard. This applies to everything in life.
Stochastic and Heikin Ashi
Forex is a really difficult business. To make money with Forex you have to know the technique and have enough experience or you lose more than what you make.
Quoting BudSpencer
If you know what you are doing, itīs "easy". If you donīt know what you are doing, itīs hard. This applies to everything in life.
That is the most succinct reply to that question that I've ever seen and the most accurate one.
I don't think trading is that hard. I think our brains make it really hard, maybe even impossible In most cases.
Trading with charts was extremely hard for me. That was where I spent about 7 years of my life focusing on. It has been said by many people before me but it has always stuck in my mind that if trading raises your adrenaline, blood pressure and excitement level, you're doing it wrong. I have spent the last 4 years focusing on the process and rules and trying to make trading predictable. The more I avoid emotional decisions, the better I am.

I think trading is easy if you set out to make it easy. Spend more time studying your system with no money on the line. If you have rules and a system and you know that system like the back of your hand, you'll know the difference between those bad days/weeks/months that should be expected and typical and those bad days/weeks/months that proved your system doesn't work.
Model 3 All Time Pips: -887
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  • Edited Mar 7, 2018 4:45am Mar 6, 2018 5:08pm | Edited Mar 7, 2018 4:45am
Quoting Redbaron81
I don't think trading is that hard. I think our brains make it really hard, maybe even impossible In most cases.

Yes I agree that the mental side is something that most small traders especially newbies completely ignore or underestimate. The two most damaging and destructive emotions that can quickly dominate your trading style are FEAR and GREED. the first one leads to closing out winning trades way too prematurely and the second leads to overtrading which is fatal. Overtrading stacks the odds heavily in favour of those who are trading against you. So you drain your account. All of this from personal experience, believe me.

Most importantly, in fact vitally, you HAVE to have a system that generally (nothing in forex is ever 100%) insures that you are on the right side of the trade. The big boys are constantly endeavouring to maneuver the small fry onto the wrong side and I can assure you that they are very good at it! Sudden changes of direction are the rule rather then the exception as we all know. So a good well tested system that as a rule keeps one on the right side of the trade is worth its weight in gold.

A good test of any new system that you might be trying out is to backtest it on trades that were losers over the last few months. Would you have made the same decision on that trade with this new system or would you have made a totally different choice? Be honest with yourself of course! If the new system leads to the right choice then you're on the right track
Quoting mlawson71
{quote} I don't get it either, to be honest.
I think, it’s a mistake! Maybe, he tried to point out: more difficult to make money when we are wrong.
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