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Another reason why 99% of traders fail

  • #41
  • Aug 22, 2010 2:54am Aug 22, 2010 2:54am
ScalpOrDie said at post #6:
[(100% of people fail at something, what you succeed at depends on what you don't give up on.)]

well, if people devote their lives to somethings which are really enjoyable for them to do, then success is just a bonus for them!

---------------------------------------------------------------------------

Anyway, this is my first post in discussion forum and the reason is to gather some opinions and information to justify my discovery.

So I'm starting with this question:

What if there's a profitable strategy which is so simple to use and the outcome is 100% win on every attempts, can you imagine it's only for each of us to find out with no help on the way because nobody wants to reveal this secret and even tries to misguide others?

I must add that I'm serious and have no intentions to fooling and laughing at anyone.
  • #42
  • Aug 22, 2010 5:07am Aug 22, 2010 5:07am
Quoting Phi
What if there's a profitable strategy which is so simple to use and the outcome is 100% win on every attempts, can you imagine it's only for each of us to find out with no help on the way because nobody wants to reveal this secret and even tries to misguide others?
Your statement (it being unanswerable) is wildly delusional and wrong enough to harm.

It's the future. Nobody knows the future. Especially the single average of one price, much less two to enter and exit and all those in-between, that each of tens of thousands of people who know nothing of each other offer in competition with each other for the same thing.
You're dealing with crowd behavior, what they all have in common, and thus an answer can only be statistically on target.

Either you've done a little too much system-hopping or been reading up on the latest conspiracy theory. I think you forget that reading ff and/or googling tells about everything that is available for traders to use to create a plan for the next trade; and, obtaining any of it, regardless of true worth, is of variable cost to the seeker.
Instead of looking for something no one willingly gives away, one must work in studying the market for an answer one can live with and then apply mm to.
  • #43
  • Aug 22, 2010 5:31am Aug 22, 2010 5:31am
Quoting Phi

What if there's a profitable strategy which is so simple to use and the outcome is 100% win on every attempts, can you imagine it's only for each of us to find out with no help on the way because nobody wants to reveal this secret and even tries to misguide others?
That's a big 'if'!

There is no secret to trading, 99% of it is just plain common sense.....(un)fortunately 95% of retail forex traders at this level don't have any!
  • #44
  • Aug 22, 2010 7:17am Aug 22, 2010 7:17am
Oh, you got me wrong, when I said "100% win on every attempts" I meant executing the whole package of the strategy every time.

In other words; of course the process of taking profit can happen in first trade order but you can always continue until you get satisfy with the amount of profit.

Look; I know most of you have enough confidence on your knowledge and wisdom to challenge this idea to the bone but what I'm asking is for some moments think about it separate from all popular and famous strategies.

we simplify and customize all we learn to use it easier and more effective but the problem is we stop improving ourselves just after relief from painful losses and make some profits but it doesn't tell you how much more you could improve yourself and how much easier and faster you could make money because you just want to be among winners.
I'm talking about a way which promotes you to 1% of 1% (0.01%) of traders!
  • #45
  • Aug 22, 2010 8:33am Aug 22, 2010 8:33am
Quoting Phi
Oh, you got me wrong, when I said "100% win on every attempts" I meant executing the whole package of the strategy every time.
Ah right, I'm with you now, 100% well executed trades (win or lose).


Quoting Phi
...but the problem is we stop improving ourselves just after relief from painful losses and make some profits but it doesn't tell you how much more you could improve yourself...
I think we all carry on learning and improving every day, we don't just stop at being profitable, I guess that's the fun of trading - there's always something new to learn.

The transition from unprofitable to profitable is a milestone and something to celebrate, plus it also takes some believing! Once we're convinced it's not just luck, that it's consistent, and that we have actually gained some skill I think most people cautiously look at ways to improve while at the same time trying to avoid 'jinxing' their newly learned skills and consistent profitability!

I also think there comes a stage where most successful traders become complacent, it's usually short-lived as the market has a nasty habit of bringing us back down to earth when we least expect it!

So where would you say you are on the learning curve, and was there a particular reason for the question?
  • #46
  • Aug 22, 2010 8:33am Aug 22, 2010 8:33am
Quoting mtrmth
"son, your ego is writing checks your body can't cash"
Hey, congratulation for your entire post, it's spectacular
  • #47
  • Aug 22, 2010 11:05am Aug 22, 2010 11:05am
Greatness exists in all of us!

You just have to believe!

Inserted Video
  • #48
  • Aug 22, 2010 11:56am Aug 22, 2010 11:56am
Quoting pip_daddy
Greatness exists in all of us!

You just have to believe!

http://www.youtube.com/watch?v=OLN2k0b3g70
lol, wtf, the world according to Will Smith

The best bit for me was ".....the world and people and situations are not something that are going to push us around.....we are going to bend the universe and demand that the universe become what we want it to be..."

Hehe, too funny!
  • #49
  • Aug 22, 2010 12:02pm Aug 22, 2010 12:02pm
2 years of demo trading and 6 years of real trading and reading 1.5 Gigabytes of economy & trading related ebooks, I'm getting better each year but these last 2 months were extraordinary; doubling my account every month with no pressure and no risk, all because of using this easy and simple strategy.
I don't want to take it to the grave but I'm hoping somehow nobody needs me to unfold it.
  • #50
  • Aug 22, 2010 12:26pm Aug 22, 2010 12:26pm
Quoting Phi
2 years of demo trading and 6 years of real trading and reading 1.5 Gigabytes of economy & trading related ebooks, I'm getting better each year but these last 2 months were extraordinary; doubling my account every month with no pressure and no risk, all because of using this easy and simple strategy.
I don't want to take it to the grave but I'm hoping somehow nobody needs me to unfold it.
I don't get where this is going, are you planning on becoming a seller/mentor/educator/trainer/signal service?
  • #51
  • Aug 22, 2010 4:12pm Aug 22, 2010 4:12pm
This is exactly my problem!
If something like this were happening to you, what would you do?
  • #52
  • Aug 22, 2010 4:22pm Aug 22, 2010 4:22pm
I'm lost.. what's the meaning of the last 3 posts?
  • #53
  • Aug 22, 2010 4:25pm Aug 22, 2010 4:25pm
Quoting tunera
I'm lost.. what's the meaning of the last 3 posts?
pi$$ing contest I think.
  • #54
  • Aug 22, 2010 4:33pm Aug 22, 2010 4:33pm
Quoting Phi
This is exactly my problem!
If something like this were happening to you, what would you do?
I would wait a little bit longer...two months out of the last 8 years might not give an accurate representation of your "no pressure/no risk" system.

Besides, doubling an account in a month really isn't that extrordinary....it has to truely be "no pressure/no risk" to put it over the edge.

My guess is you want people to know about it, otherwise you wouldn't have brought it up. My guess is also that you want to profit from it, otherwise you would have already put it out for all to see. So if you are planning on selling it, you need to show results. And 2 months of results is not that much to go on, even if you are trading 15 minute charts.

But this discussion is best reserved for the Commercial part of the forum, as it really has nothing to do with the thread topic....
  • #55
  • Aug 22, 2010 4:33pm Aug 22, 2010 4:33pm
Quoting Phi
This is exactly my problem!
If something like this were happening to you, what would you do?
Something like what, the thought of taking my trading expertise to the grave?

Well if you really want to help struggling traders then maybe you could select a few suitable candidates and take them under your wing, there's a lot of satisfaction in seeing someone succeed and being instrumental in that success. Obviously they would have to be the right candidates otherwise the frustration would probably send you to an early grave!

Or how about opening a trading room? I don't mean an online virtual trading room, I mean a real one. I don't know where you live but people would travel for the right kind of setup. Maybe hook up with a local hotel and run residential courses as well?

I think the biggest problem would be selecting suitable candidates, I mean you've only got to read these types of forums to get an idea of the sheer volume of the hapless and hopeless in this biz!

Or how about writing a book, an easy to follow A-Z beginning to end of becoming a profitable trader?

Any of the above are going to be a lot easier to establish and accomplish if you make a name for yourself first. Not easily done I wouldn't think but it's possible.

What ideas have you had yourself?
  • #56
  • Aug 22, 2010 4:37pm Aug 22, 2010 4:37pm
The thing is that some kind of systems have an inestimable value..!
  • #57
  • Aug 22, 2010 4:38pm Aug 22, 2010 4:38pm
Quoting moneymaker2

But this discussion is best reserved for the Commercial part of the forum, as it really has nothing to do with the thread topic....
That's a fair comment, maybe Phi wants to start a new thread there?
  • #58
  • Aug 24, 2018 1:13pm Aug 24, 2018 1:13pm
Quoting pip_daddy
{quote} pi$$ing contest I think.
Pip DADDY is my Dad , he disappeared 8 years ago
  • #59
  • Sep 6, 2018 8:57pm Sep 6, 2018 8:57pm
In reality, nothing comes easily to remember it, another thing 90% of day traders, go in the loss, so avoid day trading.
  • #60
  • Sep 10, 2018 8:48am Sep 10, 2018 8:48am
According to official statistics (by the Australian regulator ASIC) the people who trade Forex and lose are around 63% actually, but that number is still quite bad if you ask me.
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