95% traders go broke, only 5% survive | Page 9 | Forex Factory

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95% traders go broke, only 5% survive

  • #161
  • Sep 8, 2013 4:39pm Sep 8, 2013 4:39pm
Quoting Angrychinese
The odds of success are stacking against retail investors/traders. Forex is dirt cheap to trade, literally anyone can get in, thus people don't take it very seriously n just gamble their money away. Institution traders, doctors, lawyers spent years sharpening their skills. And yet so many people expect to make consistent profit in their first year of trading. First is attitude, second is proper education, then you might see the light. Spend some time watching Anton Kreil's interview, this is reality of the trading. http://www.youtube.com/user/InstituteofTrading/videos...
Thanks, I just watched all six episodes. It made me realise that I have settled into the right frame of mind. Only took me 6 years too!
Carbon-Dioxide: the gas of life! https://youtu.be/ttJBdr6eBuo
  • #162
  • Sep 10, 2013 5:20pm Sep 10, 2013 5:20pm
I just made a post that touches on this subject. The problem is emotions, this is why there is over 95% failure, it is more like 99% really. Anybody can make a profitable system that works today if they try hard enough but the question is, will it work in 5 years from now? how about 10 years? Almost all systems do not make it very long. It becomes very frustrating to watch your system fail after you put so much time in to developing and tweaking it and too easy to lose track of the main focus of long term success. Then it becomes easy to sell a broken system to gullible public or teach systems to students to make money. This is what you find in your Inbox and they seem to reproduce themselves every single week almost with somebody elses "holy grail" system. It is so hard especially for somebody new to this market to be able to look past all the "noise" out there and keep focus on long term success. There are too many expectations to make money with this market. It is all about risk management and long term success. There are no short cuts to success, if you are looking for a short cut then you are most likely going to lose out to a bad system/scam. It takes a long time of working with a proven system to find out how to properly trade it and become successful with it but it IS very possible. You have to maintain a lot of discipline to stick with the strategy and always above everything keep proper risk management in play. It is not about making 10 pips and risking 100, almost always you lose in the end this way. It is about risking 50 pips for 200 pips gain, this way you only need to win 2+ times out of 10 to stay successful. It is about finding these opportunities and capitalizing on them over the long term. It is not a short term game, especially in the beginning. Sticking with your strategy and sticking with proper risk management with a focus on long term success, not short term.
  • #163
  • Sep 11, 2013 1:33am Sep 11, 2013 1:33am
We can survive only in Forex with good planning about trading because if we have not a good planning and strategy we can not succeed in forex.
  • #164
  • Sep 11, 2013 8:54am Sep 11, 2013 8:54am
I'd say reason why most traders are losing money is mainly cause of their personality.

Many traders/investors/gamblers think they know it all and don't need to learn anything or willing to have anybody guiding them on their way to success.

2 traders can both learn same strategies, using same news/information even enter same trade but one will be long term profitable while other will bust his trading account.

The only difference between these 2 types of traders are human factor and that's why trading is more of a game of psychology.

For one trader to make money, another trader has to lose money.

But since most traders are lead by emotions and therefore trade irrational, this explains why such high percentage like 95% of them are losing money.

It has nothing to do with market manipulation but psychological profile of an average trader - most of them have character of a gambler that's why gambling or trading is very similar thing.
  • #165
  • Oct 15, 2013 2:43am Oct 15, 2013 2:43am
Quarter 3 this year, ....I made a profit!

The gain on the quarter was 0.5%, I do not consider this to be one of my great achievements in life.
In fact it was poor, mainly due to not closing out a losing trade quickly enough, and it was a loser because I opened the trade impulsively.

I guess that fits most of the reasons given above which fall into the lack of control, self-discipline etc.
Carbon-Dioxide: the gas of life! https://youtu.be/ttJBdr6eBuo
  • #166
  • Oct 15, 2013 4:47am Oct 15, 2013 4:47am
Quoting Exodus
Quarter 3 this year, ....I made a profit! The gain on the quarter was 0.5%, I do not consider this to be one of my great achievements in life. In fact it was poor, mainly due to not closing out a losing trade quickly enough, and it was a loser because I opened the trade impulsively. I guess that fits most of the reasons given above which fall into the lack of control, self-discipline etc.
Pretty sure someone from the banks will be over and give you 10mil on the promise of no more trading lol

my 1 mate actually thinks this, why havent you got a ferrari, then preachs if the banks cant make more than 6% neither can I lol.


sadly it will take years to turn even a modest account into a wage level let alone millions.
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #167
  • Oct 15, 2013 5:16am Oct 15, 2013 5:16am
Quoting Turveyd
{quote} Pretty sure someone from the banks will be over and give you 10mil on the promise of no more trading lol ....


I am coming to the conclusion that something like 1% ~ 5% per month is reasonably sustainable, and in which case you need a pretty sizable stake to make it worthwhile. I am still working towards that Ferrari....
Carbon-Dioxide: the gas of life! https://youtu.be/ttJBdr6eBuo
  • #168
  • Oct 15, 2013 7:32am Oct 15, 2013 7:32am
Quoting Exodus
{quote} I am coming to the conclusion that something like 1% ~ 5% per month is reasonably sustainable, and in which case you need a pretty sizable stake to make it worthwhile. I am still working towards that Ferrari....

Had a basic simple method, which was giving me that per month, but couldn't solve how to live to 2000years old for my account to grow to be big enough, basically not worth my time, keep going till I find a method which gives me 100% per month initially if nothing else.
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #169
  • Oct 15, 2013 7:45am Oct 15, 2013 7:45am
Quoting Exodus
{quote} I am coming to the conclusion that something like 1% ~ 5% per month is reasonably sustainable, and in which case you need a pretty sizable stake to make it worthwhile. I am still working towards that Ferrari....
Yeah 1 - 5% is rather achievable and will bring success slowly. I am also aiming for 4% per month. 48% per annum sounds good compared to other risky investments.
  • #170
  • Oct 15, 2013 11:36am Oct 15, 2013 11:36am
Quoting Turveyd
{quote} Had a basic simple method, which was giving me that per month, but couldn't solve how to live to 2000years old for my account to grow to be big enough, basically not worth my time, keep going till I find a method which gives me 100% per month initially if nothing else.
If you start with a month's net pay, and grow it (at 4% per month) into a year's gross pay (I reckon times 25) that should take you a little under 7 years. If you achieve this feat you can be sure that you have a reliable income because you have just been successfully doing it for 7 years!
Carbon-Dioxide: the gas of life! https://youtu.be/ttJBdr6eBuo
  • #171
  • Oct 17, 2013 5:19am Oct 17, 2013 5:19am
Quoting Exodus
{quote} If you start with a month's net pay, and grow it (at 4% per month) into a year's gross pay (I reckon times 25) that should take you a little under 7 years. If you achieve this feat you can be sure that you have a reliable income because you have just been successfully doing it for 7 years!
7 years is a lot of time and effort, factor in some stupid events and it quickly becomes never.

Find a license to print money or nothing, new method still in development, live trials soon is looking so good I might just of cracked it

If work ever lets up, then i will find out soon, time is the issue
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #172
  • Oct 17, 2013 5:28am Oct 17, 2013 5:28am
Quoting Turveyd
{quote} Find a license to print money or nothing, new method still in development, live trials soon is looking so good I might just of cracked it
Best of luck with that then.
Carbon-Dioxide: the gas of life! https://youtu.be/ttJBdr6eBuo
  • #173
  • Oct 17, 2013 2:35pm Oct 17, 2013 2:35pm
I hope this isnt the case! I've only recently started trading with cash after doing 3 years studying and demo accounts, so I feel 'semi' prepared if there is such a thing. Looking forward to getting started. EF
  • #174
  • Oct 19, 2013 9:44am Oct 19, 2013 9:44am
Trading requires proper knowledge and experience so it is necessary to be successful in Forex trader should trade with proper trading plans and winning percentage can be increased.
  • #175
  • Oct 21, 2013 4:04am Oct 21, 2013 4:04am
Absolutely agree with u. No plans - no money. I think every person should have plan in different kind of deals.
  • #176
  • Oct 21, 2013 10:18am Oct 21, 2013 10:18am
Before I continue, let me shred some light on the context in Singapore. During the course of our working life, by law we had to set aside a 20% of our payroll each month into Central Provident Fund which will be our retirement funds when we grow old & in the past we could withdraw 75% from it but a few years ago our lawmaker had issue a bill that when we retire at 65 years old, we had to maintain a minimum sum of S$130,000 (updated in July 2013) with Central Provident Fund & can only withdraw S$250 each month if we had a surplus.
The friend who intro me to Forex had started "live" trading in 2005 with S$2000 & the acct had grow to S$100k plus and he already had two of such acct & he is starting on his 3rd. He jokingly said it was his retirement fund since his monies with Central Provident Fund is untouchable by law. He had showed me his acct last year to encourage me.
That is very motivating, but he could be belong to the 5% group.
When I talk to him, he said it is alot of work & commitment and if committed it will pay off. But he did warn me it really take alot of work. & his strategy is two lines ie S/R trading in 15 min TimeFrame but it takes experience to know when to enter a trade so Stoploss will not be hit.
Enter Signature
  • #177
  • Oct 21, 2013 1:02pm Oct 21, 2013 1:02pm
Quoting Angrychinese
The odds of success are stacking against retail investors/traders. Forex is dirt cheap to trade, literally anyone can get in, thus people don't take it very seriously n just gamble their money away. Institution traders, doctors, lawyers spent years sharpening their skills. And yet so many people expect to make consistent profit in their first year of trading. First is attitude, second is proper education, then you might see the light. Spend some time watching Anton Kreil's interview, this is reality of the trading. http://www.youtube.com/user/InstituteofTrading/videos...
He talks a lot and says very little...I don't trust this guy.
  • #178
  • Oct 22, 2013 6:45am Oct 22, 2013 6:45am
Quoting Alanamc
{quote} Yeah 1 - 5% is rather achievable and will bring success slowly. I am also aiming for 4% per month. 48% per annum sounds good compared to other risky investments.
4% per month is 60% annually, unless you remove profits every month.
Carbon-Dioxide: the gas of life! https://youtu.be/ttJBdr6eBuo
  • #179
  • Oct 22, 2013 6:03pm Oct 22, 2013 6:03pm
Quick Recon!!!


GBPAUD, downtrend called nicely, news stalls at the 500, 1 hour at the 660 area, before more news catapults north, useable.

CADJPY, early uptrend called, not worth much, break down was on the mark, top was within range, errrrrr mad day for it.

EJ ohhh baby, slow am uptrend, news spike within SL spec and UP UP and away.

GPBCAD, weak downtrend called, then turn up called, then a few good entries to join the run on the way up, no SL hits at all on the way up.

NU, 500 calling down and ranges, hard to call, reasonible colleration on ranges towards the end to.

GU uptrend vaguely printing, and news hit and WOWSA's up she goes, few places to enter on that move with acceptable SL's.



Summary, it's a good trend study, which looks exploitable, new tighter 0.15% stop rule really, rather than 0.25% looks ideal, game on!!

Need TIME!!
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #180
  • Oct 23, 2013 1:37am Oct 23, 2013 1:37am
CAUTION! the NFP news is not all bad.....
Carbon-Dioxide: the gas of life! https://youtu.be/ttJBdr6eBuo
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