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Why do Newbies Lose?

  • #141
  • Edited 12:01pm Jan 15, 2014 10:36am | Edited 12:01pm
Traders, not only newbies may be not successful for the only one reason - they can't make use of the information around which is btw adundant. And that's entirely their fault as we all know pretty much the same stuff, if some still believe in holy grail - my condolences...
The single most important factor is having control of your own life.
  • #142
  • Jan 15, 2014 11:11am Jan 15, 2014 11:11am
Lack of patience, thats why they loose
  • #143
  • Jan 15, 2014 4:35pm Jan 15, 2014 4:35pm
Very easy to answer that:

Why do Newbies Lose? Because they are Newbies.

Lack of experience, knowledge, patience, and so on.
"There's a sucker born every minute" - P.T. Barnum
  • #144
  • Jan 15, 2014 6:35pm Jan 15, 2014 6:35pm
Quoting rooicol
Hi all, Just wondering what exactly do newbies do to lose? I mean when you open a trade, regardless of any analysis you do, you are issued a 50:50 chance of winning/losing, so how do you lose overtime? Well, i guess the first thing is trading cost, every trade you make it will cost you about 3 pips, so if a newbie makes 100 trades, 50 wins and 50 losses of equal size, they will end up down 300 pips. I think newbies have a tendency to make many many trades in a short period of time, the market rise a few pips and they buy, the market falls a few...

You would think its 50/50 chance of winning or losing but its not. This is why you must have a strategy or plan to stick to. You will have streaks of wins and losses when you first start off. However, your mental game will dictate whether those streaks destroy your trading account.
  • #145
  • Jan 15, 2014 8:58pm Jan 15, 2014 8:58pm
Quoting Proximus
Very easy to answer that: Why do Newbies Lose? Because they are Newbies. Lack of experience, knowledge, patience, and so on.
Turvy is a newbie then. After 9 years and with no clue at all I'd rather call him retarded....
The single most important factor is having control of your own life.
  • #146
  • Jan 15, 2014 9:20pm Jan 15, 2014 9:20pm
Mindset is the key to success. Most of the newbie intend to look for 99% and 100% successful rate trading system. Although it is important to have high successful rate system, but they never know that the system wont become 100% works if their trading mindset is incorrect.

Regards
Mr.AG
  • #147
  • Jan 16, 2014 8:58am Jan 16, 2014 8:58am
Quoting Mr.AG
Mindset is the key to success. Most of the newbie intend to look for 99% and 100% successful rate trading system. Although it is important to have high successful rate system, but they never know that the system wont become 100% works if their trading mindset is incorrect. Regards Mr.AG
Mindset sounds like the most important thing.

Question: But what if one has minds set of "most of you suck, that's why I'll make it". Is it destructive or productive in this business?
  • #148
  • Jan 16, 2014 9:19am Jan 16, 2014 9:19am
Quoting Vitez
{quote} Mindset sounds like the most important thing. Question: But what if one has minds set of "most of you suck, that's why I'll make it". Is it destructive or productive in this business?
I have that mindset , so take for example me, if i make it, then its productive, if not then not.

Quoting Mikkk01
{quote} Turvy is a newbie then. After 9 years and with no clue at all I'd rather call him retarded....
The guy learned much from his mistakes.He said he has a nice and worked out system which he now trades.If he will get some money in the next few months then he is definitely a slow, but steady trader.

If not then maybe he needs to reconsider the time spent
"There's a sucker born every minute" - P.T. Barnum
  • #149
  • Jan 18, 2014 9:37am Jan 18, 2014 9:37am
trading in forex without full understanding of the game .... lose 100%
chose a currency make a buy - 5 min after you are -20 pipe close i will try to do on the other way open a sell of the same currency 5 min later ops again -15 pipe

the big ops i lose 50% of my account and it is the end of the game
  • #150
  • Jan 18, 2014 9:40am Jan 18, 2014 9:40am
Quoting hamedmohd
trading in forex without full understanding of the game .... lose 100% chose a currency make a buy - 5 min after you are -20 pipe close i will try to do on the other way open a sell of the same currency 5 min later ops again -15 pipe the big ops i lose 50% of my account and it is the end of the game
If you lost 50% of your account after 35 pips loss, you are a gambler ... not a trader.
MT4/MT5 EAs/Indicators/Alerts coder
  • #151
  • Jan 18, 2014 11:11am Jan 18, 2014 11:11am
Quoting FerruFx
{quote} If you lost 50% of your account after 35 pips loss, you are a gambler ... not a trader.

I second that. As a trader, you want stable and longterm profits. Making 2 to 10% per month should be your target. When you use too much leverage, stress and greed will take over and your account will go bust. Try to lower your risk when trading, because risk is as important as profits, and unlike the latter, you want to keep it as low as possible
  • #152
  • Jan 18, 2014 3:07pm Jan 18, 2014 3:07pm
Quoting Capelli
{quote} I second that. As a trader, you want stable and longterm profits. Making 2 to 10% per month should be your target. When you use too much leverage, stress and greed will take over and your account will go bust. Try to lower your risk when trading, because risk is as important as profits, and unlike the latter, you want to keep it as low as possible
your are right ... most of the new players in this game they do gambling.
  • #153
  • Jan 19, 2014 11:50am Jan 19, 2014 11:50am
Most Beginners lose because they think trading is easy.
Taking responsibility means believing that your outcomes are self-generated
  • #154
  • Jan 19, 2014 8:04pm Jan 19, 2014 8:04pm
Quoting Jcandle
Most Beginners lose because they think trading is easy.
After looking back my journey, at this moment i find it easy now, but back then it was so hard and sometimes i lost all hope that i will find a profitable system, but by now giving up now it become very easy.
"There's a sucker born every minute" - P.T. Barnum
  • #155
  • Jan 20, 2014 10:27am Jan 20, 2014 10:27am
Quoting Jcandle
Most Beginners lose because they think trading is easy.
Maybe we convinced our selfs that it's hard
  • #156
  • Jan 20, 2014 11:19am Jan 20, 2014 11:19am
Quoting Vitez
{quote} Maybe we convinced our selfs that it's hard
Yea that's definitely part of it too but society and media also played a role in predisposing us as we grew up.
Taking responsibility means believing that your outcomes are self-generated
  • #157
  • Jan 20, 2014 12:09pm Jan 20, 2014 12:09pm
Quoting Vitez
{quote} Maybe we convinced our selfs that it's hard
Another question would e how long have the been studying and observing the market. Every thing is hard before its easy, and it will only get easy with experience which requires time and practice
  • #158
  • Jan 20, 2014 1:39pm Jan 20, 2014 1:39pm
Quoting Capelli
{quote} Another question would e how long have the been studying and observing the market. Every thing is hard before its easy, and it will only get easy with experience which requires time and practice
I think observing the market leads to too much analyzing which causes not just bad trading but lower life awareness which is key to happiness....
  • #159
  • Jan 26, 2014 11:35am Jan 26, 2014 11:35am
Perseverance is the key to success. All the pieces ultimately fall in place.
The trader IS the holy grail.
  • #160
  • Jan 31, 2014 9:25pm Jan 31, 2014 9:25pm
Number one reason- no trading plan. Most people don't follow it even when they have one in place. Also most new traders fail because of bad risk management.
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