DislikedI use to hear the term stop loss hunting by the broker, if he does that
is that not illegal.Ignored
Pierre (RedRobin)
Why 98% Of All Day-traders Fail 30 replies
Why most 'traders' fail 12 replies
Why do 99% of the people who wants to be traders fail? 182 replies
The Reason why 95% Traders fail 341 replies
Why Traders fail despite of good system available here in Forum?? 8 replies
DislikedI use to hear the term stop loss hunting by the broker, if he does that
is that not illegal.Ignored
DislikedFrom an article by trading psychologist and author Dr Brett Steenbarger......
"The main cause of trading failure is a lack of an objective edge in the marketplace, trading random patterns that have never been tested out for success."
Thanks to Ubeee, who pointed me to the link to the article.
The whole article is a very worthwhile read, IMHO.
There are also plenty more ideas in this thread.
The topic "Why do X% of traders fail?" has already been discussed many times on the FF forum.
DavidIgnored
DislikedThe reason most traders fail is because they don't see it through the 5 or more years necessary to get profitable.Ignored
DislikedVery well said forexlion,
People just forget basic concept, and run behind stupid indicatores.
When i was new in fx ....and knowing nothing about indicatores..even not knowing MT4....i earn very good amount by just looking at price and price behaviour..then on NFP day..i got big hit...and come to know what is NFP with big cost.
Then i started reading forexfactory forums and other forums ...and thinking ............these people knows so many indicator and system..and i don't know anything ...and reading all post.......understanding...Ignored
DislikedAfter spending nearly 2 years of trading and losing nearly $2000.00 I have learned the reason why 95% of all traders fail. It is the same reason for any business, why some of them fail. Well here is what I learned.
1. Traders allow their emotions, greed, hope and assumption to take over their trading. This is probably the most difficult thing for a trader to do is to eliminate those things while in the Forex business. Did I say "business"? Oh yes it's a business.
2. Lack of Education. Most traders (myself included) are very arrogant when...Ignored
Disliked4. No plan. I know that some traders think they can start a business with no plan in mind. I did that. That's one of the reasons I lost money. I had no plan, no goal. What the trader needs is a plan on how to trade, when to trade, what time frames to use, etc. etc. Without a plan there is nowhere for you to go.Ignored
DislikedThis is the key of the question, having a plan/method, but here comes the difficulty: everyone can learn to write an EA with his method and back testing it, but if you back test an EA time back enough you will realize that 99% of EAs end up losing all the money, that's because 95% of traders fail, and the 1% of EAs that work gives you a ridiculous profit, so, my question is, is there any really profitable method in forex in the long term or you have to change your plan/method everytime?Ignored