Sometimes I wonder why we still lose when so many information is readily available and so many strategies and skills abound everyday. Why do we still fail?
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I've thought long and hard about this fact. Trading over 100 years old right? And the conclusion after 11 years my research has lead to the answer "because you were meant to lose."
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Joined Jul 2020
|131 Posts
Information and strategy are there but we do not have enough knowledge and skills to utilize those information and strategy. Most traders do not follow any rules. They take trades out of fear, greed and for revenge to recover loss quickly.
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Joined Dec 2015
|3,529 Posts
Actually, the people who lose money are about 63% percent - at least that is according to official statistics released by the Australian financial regulator ASIC. They also stated that people often lose money due to shady broker practices.
We still lose because it is part of being a trader. The promise land of trading without losing at all is a myth. You have to be mentally fit to survive in these markets. Any successful trader will honestly tell you that there are rainy days whereby they lose. To deal with these loses you have to have a system you live by as a trader , make sure you stay true to your system. A system that in the long run shows that your wins are bigger than your losses be sure to backtest. Bottom line is losing is part of trading.
Actually, the people who lose money are about 63% percent - at least that is according to official statistics released by the Australian financial regulator ASIC. They also stated that people often lose money due to shady broker practices.
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I wouldn't trust those numbers, we don't know even how long or how much data was taken for those numbers. I still would say taking a handful of traders from beginning to end, only 10% will have survived after 3 months of trading. The stats haven't changed where it takes 4-5 years before someone can consistently earn profits. Lots of traders can win for a short period of time but suddenly start losing or blow their accounts.
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Joined Dec 2015
|3,529 Posts
I trust them more than people saying that 99% of traders lose money without having any kind of data to back that up - for the most part we are all parroting this number without proof.
I trust them more than people saying that 99% of traders lose money without having any kind of data to back that up - for the most part we are all parroting this number without proof.
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not 99%, it's a well known 90/90/90 principal. 90% of the traders, lose 90% of their accounts within 90 days. One of the top educators in Forex and trading is Anton Kreil, he's a very reputable source and is all about stats, this is just one of the many stats he teaches to retail traders. Nothing but truth and transparency. It is certainly a stat that brokers build their business models around...
{quote} not 99%, it's a well known 90/90/90 principal. 90% of the traders, lose 90% of their accounts within 90 days. One of the top educators in Forex and trading is Anton Kreil, he's a very reputable source and is all about stats, this is just one of the many stats he teaches to retail traders. Nothing but truth and transparency. It is certainly a stat that brokers build their business models around...
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Yeah, I've read about this 90-90-90 rule. Experts keep advising on trading in a way that you avoid being a member of this 90-90-90 club.
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Joined Jul 2020
|129 Posts
It is difficult to make a profit as long as trading skills are not developed. If you want to make a profit consistently, you have to give up emotions and follow money management. And 1: 2 risk rewards must be maintained and traded. Must do regular meditation.
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Joined Apr 2018
|459 Posts
yes have done a nice suggestion , the importance of meditation is huge not only trading life but with real life also. but we take medication very easily. it should be priority first of all.
