Real reason why 99% lose - daytrading | Page 3 | Forex Factory

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Real reason why 99% lose - daytrading

  • #41
  • Mar 24, 2018 1:03am Mar 24, 2018 1:03am
my 2 cents :

In addition to the all the above statements , Most losing traders are wired in their brain thinking the strategies discussed here the WAY TO TRADE. As for as i have seen,most of the systems and strategies which are openly posted here will never make money in the long run. and here I'm not saying day trading is a joke.I have been trading successfully for years and i will never ever ever give even a hint of what is working for me here out in open.

I wonder why these noobs are falling for all the systems out there. Ofcourse ff is a good place to learn the basics . But nothing more. I only believe when gurus here make live calls and take trades. Rest are only talking s**t.
I do what works for me. I do day and swing trades.

Who on earth would share golden goose ? just my take no offence to anyone
Avoid what is Strong,Strike at what is Weak
  • #42
  • Mar 24, 2018 1:16am Mar 24, 2018 1:16am
Quoting magentfx
my 2 cents : In addition to the all the above statements , Most losing traders are wired in their brain thinking the strategies discussed here the WAY TO TRADE. As for as i have seen,most of the systems and strategies which are openly posted here will never make money in the long run. and here I'm not saying day trading is a joke.I have been trading successfully for years and i will never ever ever give even a hint of what is working for me here out in open. I wonder why these noobs are falling for all the systems out there. Ofcourse ff is a good...
There is actually one post by a user on ForexFactory that I've found to be a "Holy Grail," for my purpose anyway. There is useful information here for sure but you just have to weed through all the posts by the Newbs.
  • #43
  • Mar 24, 2018 5:52am Mar 24, 2018 5:52am
90 / 90 / 90 rule - 90% of Forex retail traders lose 90% of their deposited money within 90 days of opening a trading account.

If price moves for 500 pips in 33 days trade makes 15 pips a day average, I cant find any daytrader who can get "consistently" 15 pips a day for 33 days.

Opposite of day-trading, long-term trading, is more consistent and produces better results than day-trading.
  • #44
  • Mar 24, 2018 8:28am Mar 24, 2018 8:28am
Quoting igorc
90 / 90 / 90 rule - 90% of Forex retail traders lose 90% of their deposited money within 90 days of opening a trading account.
Haha I recognize this phrase! I thought the term was for ALL retail traders? Not just FX.
I look for value wherever it can be found
  • #45
  • Mar 24, 2018 12:19pm Mar 24, 2018 12:19pm
Quoting magentfx
my 2 cents :I have been trading successfully for years and i will never ever ever give even a hint of what is working for me here out in open. I wonder why these noobs are falling for all the systems out there.......
It is not a system that makes a trader, it is the trader. If you believe you have found a system no one else knows or is using, then you are in cloud cuckoo land. Therefore it would not make the slightest bit of difference if you did share your system in detail, as no one would be able to pick it up and use it as you do. If they are relatively inexperienced traders, then they will fail whatever system they have, and if they are experienced with sufficient knowledge of the markets then they will not need any system of yours or anyone else's anyway.

You have therefore made the common mistake of believing that it is the system which brings the success all traders desire, when in reality it is the hard won knowledge of the markets that creates the system that does. You cannot have one without the other. For someone who claims they have been trading successfully for years, I am surprised you need to be told this.

Also, referring to inexperienced traders or those just starting out as ' noobs ' the way you and others do is patronizing and arrogant, and more often than not comes from people on this forum who claim to be successful, but who are not. Judging by your post, I place you firmly into that bracket.
  • #46
  • Mar 24, 2018 12:51pm Mar 24, 2018 12:51pm
Davit and his his pivot trading? Hmm, it’s ok. Until he can automate it’s just knee jerk guessing, with an edge. I’ve seen hundreds of these threads over circa 20 years. If it can’t be coded it can’t be taken seriously.

Quoting TGS
{quote} There is actually one post by a user on ForexFactory that I've found to be a "Holy Grail," for my purpose anyway. There is useful information here for sure but you just have to weed through all the posts by the Newbs.
"The meek shall inherit the earth.." Yeah right, good luck with that shit..
  • #47
  • Mar 24, 2018 12:56pm Mar 24, 2018 12:56pm
Same shit all over again. Forex is a business like any other. You need to be smart to succeed in any business, but people are not. 90% of all people are average or dumb. Simple as that.
Everyone can see the chart, but only a few can actually read it.
  • #48
  • Mar 24, 2018 12:58pm Mar 24, 2018 12:58pm
Quoting Spreadbetter
Davit and his his pivot trading? Hmm, it’s ok. Until he can automate it’s just knee jerk guessing, with an edge. I’ve seen hundreds of these threads over circa 20 years. If it can’t be coded it can’t be taken seriously. {quote}
You can't "code" human behaviour, which is essential when trading successfully long term.
Everyone can see the chart, but only a few can actually read it.
  • #49
  • Edited 1:34pm Mar 24, 2018 1:11pm | Edited 1:34pm
Double post
We Win Some, We Loose Some, But Let your Win Rates be More to be Successful
  • #50
  • Mar 24, 2018 1:27pm Mar 24, 2018 1:27pm
Your figure is just an assumption and no data to back it up. Even if you have millions, you can still lose her in year our trading on higher tf.
The question is why, as a day trader, you want to be in the market close to red news releases? You want to be in the market every single hour or minutes, trading multiple times every day in 5 days on every pair? You want to trade high leverage and tight stop loss, multiple times per day? You can't differentiate between or following a daily trend at a momentum spot on lower tf at an early stage of the daily candle? You don't know important levels such as daily/weekly/monthly pivots , supply and demand and order flow? You don't know when to join the party?
It doesn't work that way.... Trade less, be like a sniper that is targeting something, as an entry, calculate your risk not to hurt your account and be discipline to stop trading when make good profit. That's my opinion anyway.
We Win Some, We Loose Some, But Let your Win Rates be More to be Successful
  • #51
  • Mar 24, 2018 1:35pm Mar 24, 2018 1:35pm
Delusional.

Quoting OnlineAddict
{quote} You can't "code" human behaviour, which is essential when trading successfully long term.
"The meek shall inherit the earth.." Yeah right, good luck with that shit..
  • #52
  • Mar 24, 2018 1:36pm Mar 24, 2018 1:36pm
Quoting Spreadbetter
Delusional. {quote}
No, experience. Market is a living organism. If you think you can automate trading, good luck.
Everyone can see the chart, but only a few can actually read it.
  • #53
  • Mar 24, 2018 1:36pm Mar 24, 2018 1:36pm
Quoting Spreadbetter
Davit and his his pivot trading? Hmm, it’s ok. Until he can automate it’s just knee jerk guessing, with an edge. I’ve seen hundreds of these threads over circa 20 years. If it can’t be coded it can’t be taken seriously. {quote}
It's not that one, it's just 1 post about one way of using a common indicator. It has very good accuracy when back tested, I'll be forward testing it this week.
  • #54
  • Mar 24, 2018 1:37pm Mar 24, 2018 1:37pm
Clueless.

Quoting OnlineAddict
{quote} No, experience. Market is a living organism. If you think you can automate trading, good luck.
"The meek shall inherit the earth.." Yeah right, good luck with that shit..
  • #55
  • Mar 24, 2018 2:11pm Mar 24, 2018 2:11pm
Quoting Spreadbetter
Clueless. {quote}
Nice to meet you, Clueless, I am OA.
Everyone can see the chart, but only a few can actually read it.
  • #56
  • Edited 2:31pm Mar 24, 2018 2:13pm | Edited 2:31pm
So for long-term USD/JPY is going down most from jpy basket from all jpy currencies:
-12.35% in 3 years (without leverage)
since january till today -7.05% (without leverage)
last 30 days: -2.01% (without leverage)

From january till today selling usd/jpy 0.01 lot or investing 1000$ without leverage gone to 1070$.
  • #57
  • Mar 24, 2018 2:36pm Mar 24, 2018 2:36pm
So you're clueless and addicted to online gambling? Good luck with the issues.

Quoting OnlineAddict
{quote} Nice to meet you, Clueless, I am OA.
"The meek shall inherit the earth.." Yeah right, good luck with that shit..
  • #58
  • Mar 24, 2018 4:37pm Mar 24, 2018 4:37pm
I very much doubt central banks or other financial institutions will try to kill the retail industry since it is well known that institutional traders trade against retail traders so they would have no possible reason to want to kill it.
I agree with most of the reasons you explained why most retail traders ultimately lose however being under capitalised is not one of them. At the end of the day, if you cannot trade a USD1,000 account profitably over a period of time (at least a year then having a USD100,000 account will not help. You will ultimately make the same mistakes but just lose more money in the process. If you only have USD1,000 to trade with then that is okay to begin with, just only risk a small percentage of your bank (1-3%) by taking smaller positions without big leverage.
Even a modest return of 5% per month would allow you to to scale up position sizes by 50% well within a year when compounded, and eventually grow the account to a more decent size.
  • #59
  • Edited Mar 25, 2018 3:18am Mar 24, 2018 5:04pm | Edited Mar 25, 2018 3:18am
I took a screenshot from TradeStation's disclaimers, a US broker about 5 years ago.
Of the forex traders on an annual basis, about 30% won while about 70% lost.
Attached Image (click to enlarge)
Click to Enlarge Name: 0cab4e27731bdd882fde2535f00c84d3.png Size: 19 KB
  • #60
  • Mar 24, 2018 6:37pm Mar 24, 2018 6:37pm
Nope, it’s closer to 70% losing, but you have to take on board how that data can be twisted, for example, that might be the actual losing bets, but the amount of losing traders might be much higher. A French authority report had losers at 90% and losing on average €8k each inside the six months they traded, my data has it closer to 96%. But consider this; a series of coin tosses should come out at 50-50%..now then, can you figure out why the loser data is so negatively skewed?

Quoting AlexC
I took a screenshot from TradeStation's disclaimers, a US broker about 5 years ago. Of the forex traders on an annual basis, about 30% won while about 60% lost. {image}
"The meek shall inherit the earth.." Yeah right, good luck with that shit..
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