Most traders fail because of no discipline!
- #782
- Feb 7, 2017 2:36am Feb 7, 2017 2:36am
- Joined Aug 2006 | Status: Trader | 5,317 Posts
It never gets easier, you just get better
- #786
- Feb 8, 2017 8:31am Feb 8, 2017 8:31am
- Joined Aug 2006 | Status: Trader | 5,317 Posts
It never gets easier, you just get better
- #789
- Feb 8, 2017 10:13am Feb 8, 2017 10:13am
- Joined Aug 2006 | Status: Trader | 5,317 Posts
It never gets easier, you just get better
- #790
- Feb 8, 2017 10:57am Feb 8, 2017 10:57am
- Joined Mar 2012 | Status: Trader | 14,314 Posts
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
- #793
- Feb 9, 2017 10:23am Feb 9, 2017 10:23am
Lol 
....Its like the saying "an apple a day keeps the doctor away", so why don't we follow? Its easy to do....
Well its also easy not to do because if you don't eat an apple even for almost a year you still can say "look am healthy, didn't even get ill this whole year".
That is the problem with following rigid rules and being discipline. Just because disaster doesn't fall on the very first day doesn't mean its not coming, the accumulated effect of a series of mistakes committed every day will surely have some adverse affects. But people usually are very short sighted.
Same in this business (trading)....just because you don't have a system doesn't mean you will not have winning trades. You can make all the errors in the world and still find yourself in a winning trade.
No money management
No stops
No criteria defined for entries and exit
Don't even know how prices move
You can do the above things and can have winning streaks but at the end what happens? The errors u were making will get you. A perfect example can be not using stops at all.
That is not a professional way of thinking, looking things at their face value. You have to be smarter than this.
Everyone wants to earn like a pro, how many of us want to study, think and act like a pro? We all know the answer.
As i said above just because you know something that is good for you that doesn't mean you will do it because we don't see the negative impact of our mistakes on the very first day.
....Its like the saying "an apple a day keeps the doctor away", so why don't we follow? Its easy to do....Well its also easy not to do because if you don't eat an apple even for almost a year you still can say "look am healthy, didn't even get ill this whole year".
That is the problem with following rigid rules and being discipline. Just because disaster doesn't fall on the very first day doesn't mean its not coming, the accumulated effect of a series of mistakes committed every day will surely have some adverse affects. But people usually are very short sighted.
Same in this business (trading)....just because you don't have a system doesn't mean you will not have winning trades. You can make all the errors in the world and still find yourself in a winning trade.
No money management
No stops
No criteria defined for entries and exit
Don't even know how prices move
You can do the above things and can have winning streaks but at the end what happens? The errors u were making will get you. A perfect example can be not using stops at all.
That is not a professional way of thinking, looking things at their face value. You have to be smarter than this.
Everyone wants to earn like a pro, how many of us want to study, think and act like a pro? We all know the answer.
As i said above just because you know something that is good for you that doesn't mean you will do it because we don't see the negative impact of our mistakes on the very first day.
I can accept failure but i can't accept not trying. (Michael Jordan)
- #794
- Feb 9, 2017 10:52am Feb 9, 2017 10:52am
Trade fearless not careless...
Syed Mohsin Ali Profit This Month:
-127
- #796
- Edited 2:34am Feb 10, 2017 2:21am | Edited 2:34am
- Joined Aug 2006 | Status: Trader | 5,317 Posts
Lol
etc., so people like to think they can be free flowing with decisions, act on impulse and very often as you say they do win and that only increases their
confidence to repeat this.
It all boils down to what your real objectives are trading forex, what you expect realistically to achieve, what your long term goals are and whether you track
your results. Discipline can be easier if you regard your rules as "good habits & pracitises" and follow with rewards to cement those good habits.
{quote} Pros can go broke trading as well. Amateurs can make money trading as well. There are only winning traders and there are mostly losing traders.
on trading for their income.
There can be good traders & bad traders in both camps.
It never gets easier, you just get better
- #797
- Feb 10, 2017 3:10am Feb 10, 2017 3:10am
- Joined Dec 2013 | Status: IN VICTORY | 1,867 Posts
HINT
IMPROVISE ADAPT OVERCOME
- #798
- Feb 10, 2017 5:15am Feb 10, 2017 5:15am
{quote} Pros can go broke trading as well. Amateurs can make money trading as well. There are only winning traders and there are mostly losing traders.
).If you do some research on today's famous traders who are making a living from this business, almost all of them have blown accounts in the past. But for me the important thing is not the blown accounts but what they have learned from it so i don't have to repeat the same mistakes because i know the out come.
And about amateurs.... that's what i said in my previous post. You don't have to know anything about trading to make money.
But can you rely on this income?....absolutely NOT
I can accept failure but i can't accept not trying. (Michael Jordan)
- #799
- Feb 10, 2017 6:54am Feb 10, 2017 6:54am
- Joined Aug 2006 | Status: Trader | 5,317 Posts
It never gets easier, you just get better
