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The Reason why 95% Traders fail

  • #61
  • Dec 14, 2009 9:36am Dec 14, 2009 9:36am
Quoting calderone
I think money management/ risk management has a lot to do with it. Trading methodology might be number 2 imho. I also think people might take a couple of big losses and just move on to something else. Those with a serious interest in learning stick it out and eventually become part of the 5%. Perhaps?
I can sum it all into one word for you my man. Perseverence.
I dream, therefore I become.
  • #62
  • Dec 14, 2009 9:43am Dec 14, 2009 9:43am
Quoting mike w
I can sum it all into one word for you my man. Perseverence.
Experience is simply the name we give to our mistakes. ~ Oscar Wilde

There is no such thing as failure. There are only results. ~ Tony Robbins

There's always a way - if you're committed. ~ Tony Robbins
  • #63
  • Dec 14, 2009 10:00am Dec 14, 2009 10:00am
Quoting mike w
I can sum it all into one word for you my man. Perseverence.
And we did...and shall.........always.
  • #64
  • Dec 14, 2009 10:01am Dec 14, 2009 10:01am
Quoting TraderT
Experience is simply the name we give to our mistakes. ~ Oscar Wilde

There is no such thing as failure. There are only results. ~ Tony Robbins

There's always a way - if you're committed. ~ Tony Robbins
Nice!
  • #65
  • Dec 14, 2009 7:25pm Dec 14, 2009 7:25pm
This thread reminds me of something I wrote in a PM recently:

“Experience is a big deal in trading. Sometimes I think the main goal of a new trader should be to stick around long enough to actually gain experience. That might be what separates the 5% from the 95%.”

That might sound like circular logic at first. But if you get rid of the mindset that forex is a get rich quick scheme, dedicate yourself to keep learning and growing, and trade small lots during the training phase so you don’t blow large amounts of cash, it allows you to survive long enough to become a knowledgeable and experienced trader. Then the odds of surviving become quite a bit better, IMO.
  • #66
  • Dec 14, 2009 7:39pm Dec 14, 2009 7:39pm
Quoting TraderT
Experience is simply the name we give to our mistakes. ~ Oscar Wilde

There is no such thing as failure. There are only results. ~ Tony Robbins

There's always a way - if you're committed. ~ Tony Robbins
I don't mean to highjack the thread, but I just want to say Tony Robbins is the man. I also really like this guy named sean stephenson. Youtube him if you never have. Stephenson is really motivational when you feel like giving up on something. "Get off your buts."
I dream, therefore I become.
  • #67
  • Dec 14, 2009 8:05pm Dec 14, 2009 8:05pm
[quote=Tjpld;3302391]Yes your signature describes basically the same phenomenon.

Every one just desperatly searches for a system that will get him
into the market at the right time and price.
YEAH!! WHATEVER YOU DO DON'T GET INTO A MARKET AT THE RIGHT TIME AND AT THE RIGHT PRICE. IT MIGHT JUST MAKE YOUR EXIT THAT BIT MORE PROFITABLE
  • #68
  • Dec 15, 2009 3:49am Dec 15, 2009 3:49am
Hi


There is a solid reason for failing 95% traders in forex trading. because they are not using Meta trader 4 with excels and making their task typical and not able to concentrate on strategies and spend their lost of time in learning scripting languages. no need to learn it as excel via meta trader 4 can help you better.


Good Luck!!!


regards,
Ivan
  • #69
  • Dec 15, 2009 4:52am Dec 15, 2009 4:52am
Quoting forexsolutio
Hi


There is a solid reason for failing 95% traders in forex trading. because they are not using Meta trader 4 with excels and making their task typical and not able to concentrate on strategies and spend their lost of time in learning scripting languages. no need to learn it as excel via meta trader 4 can help you better.


Good Luck!!!


regards,
Ivan
Data venia, but not so fast....

Give any working platform to a profitable trader and he will do better than the "famous" 95%. The majority doesn't lose due to not mastering MT4, excel, or programming. They lose cause they are naive, greedy, lazy, anxious to make zillions of dollars on a 500:1 account....... they lose cause they don't have charting time, don't take the time to study the market structure, the brokers structure, and are lured with lots of trading systems (even those which work) without mastering their discipline and patience...

But for some, this losing round is turned into an "investment", cause they learn the lesson, and start over, from the beginning... those have a chance of being alive on the long run...


Cheers!
Many share my views with me. But I don't share them with them...
  • #70
  • Dec 15, 2009 5:07am Dec 15, 2009 5:07am
Have a mate in the US who is a cattle trader on the floor of the CME, but also owns an fx brokerage firm.
He reckons that none of his clients make money in fx. He's been trying to get me to change markets as a result but I'm doing fine (so far).
Whether his view 100% accurate or not I don't know, but it certainly seems close to the 95% level doesn't it?
He also says he's never met any private investor that has made money in fx.
Clearly there are private investors who do, but in his experience, they seem to be pretty rare....
  • #71
  • Dec 15, 2009 10:38am Dec 15, 2009 10:38am
The reason is: you have to take that business damn seriously.

No fun,no games. Always concentration and 100% following the strategy.

You must excactly know when the best times are to trade and waiting till the setups occur.

You only get experience from painfull and very brutal lessons.
Then most people will quit - the losses are hurting too much.

That's the moment a real trader will be born if he have the will to try it once more.

The best way is to trade with real small money - no paper trading.

When you're own money is on the line the chances are higher to learn faster.
  • #72
  • Dec 16, 2009 10:59pm Dec 16, 2009 10:59pm
Hi dude,



There is a simple reason for failing traders in their trade that they never use new techniques like use of excel via Meta trader. Because it is really difficult to manage Forex accounts as it is so vast and tough to handle. But Meta trader 4 using excels makes this task easy and clear. You can easily make your account strategies and it gives appropriate calculation and you can rely on it.


Good Luck!!!!


Regards,
Andrew
  • #73
  • Dec 16, 2009 11:21pm Dec 16, 2009 11:21pm
Quoting forex.tradi
Hi dude,



There is a simple reason for failing traders in their trade that they never use new techniques like use of excel via Meta trader. Because it is really difficult to manage Forex accounts as it is so vast and tough to handle. But Meta trader 4 using excels makes this task easy and clear. You can easily make your account strategies and it gives appropriate calculation and you can rely on it.


Good Luck!!!!


Regards,
Andrew
These 2 posts sure look similar . . .

Quoting forexsolutio
Hi


There is a solid reason for failing 95% traders in forex trading. because they are not using Meta trader 4 with excels and making their task typical and not able to concentrate on strategies and spend their lost of time in learning scripting languages. no need to learn it as excel via meta trader 4 can help you better.


Good Luck!!!


regards,
Ivan
  • #74
  • Dec 16, 2009 11:40pm Dec 16, 2009 11:40pm
Quoting Pips_Cruiser
These 2 posts sure look similar . . .
Make everyone pay 10$/month for a membership on this forum and many of your problems will be solved.
ok Friendo? This is madness!?!? - THIS, IS, FOREX!!!
  • #75
  • Dec 16, 2009 11:58pm Dec 16, 2009 11:58pm
reasons for failure once you get past brokers

1. your system sucks
2. your system doesn't suck that bad, your money management sucks. That means you suck!
3. both one and 2

those are usually root causes. everything else will relate to those root causes.
  • #76
  • Dec 17, 2009 5:58am Dec 17, 2009 5:58am
Quoting Liger86
Make everyone pay 10$/month for a membership on this forum and many of your problems will be solved.
Dunno, the rich want to be's are dumber than the poor people in general, so just a forum full of idiots with 100K account which will quickly reduce to ZERO, just the way the big traders like it.
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #77
  • Dec 17, 2009 6:24am Dec 17, 2009 6:24am
"hazelj80 reasons for failure once you get past brokers

1. your system sucks
2. your system doesn't suck that bad, your money management sucks. That means you suck!
3. both one and 2

those are usually root causes. everything else will relate to those root causes."

I think that goes straight to the core of the issue, and the appropriate response is 'nuff said
  • #78
  • Dec 17, 2009 6:50am Dec 17, 2009 6:50am
It is a mistatement to say that 95% of traders lose. You're not a trader just because you make a "trade". It is true that when you begin taking trades in the FOREX market you will make a lot of losing trades. I believe that there is a cut off point where a person goes from just taking trades to becoming a trader. You could possibly say that cut off point is when a person has to trade for a living......I dunno. I have been trading FOREX for almost three years and I would be offended if someone came off the streets after a couple of days and started making as many wise trading decisions as I make.
  • #79
  • Dec 17, 2009 6:54am Dec 17, 2009 6:54am
I think it's basically because an awful lot of people haven't a clue what they are doing..... sorry to state the obvious.
  • #80
  • Dec 17, 2009 7:18am Dec 17, 2009 7:18am
Quoting Liger86
Make everyone pay 10$/month for a membership on this forum and many of your problems will be solved.
Forexfactory will earns millions of dollars if there is paid membership. I think the number of members here exceed 100,000.
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