Most traders fail because of no discipline! | Page 51 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Why most 'traders' fail 12 replies

Top Reasons Why Most Beginner Traders Fail 64 replies

The Miracle of Discipline, by Rob Booker 18 replies

Average system + great discipline =great results? 44 replies

Why Traders Lose Their Discipline 2 replies

Attachments: Most traders fail because of no discipline!
Exit Attachments

Most traders fail because of no discipline!

  • #1,001
  • Mar 16, 2017 1:52pm Mar 16, 2017 1:52pm
Quoting dukas_trader
{quote} no its perfect zero sum game. i dont understand why you come to positive or negative sum results. show me some example calculation with lets say 4 traders and 1 broker (so 5 market members). what you calculate different that you came to this different then zero sum result?
As I said fees to open/close make it negative sum. Central bank intervention makes it positive sum.
  • #1,002
  • Mar 16, 2017 1:56pm Mar 16, 2017 1:56pm
Quoting HeyYou
{quote} As I said fees to open/close makes it negative sum. Central banks intervention makes it positive sum.
i dont understand this sentence. the fee gets the broker, but broker is also a marketmember, so exact zero sum, from one hand to other. you need to tell me more the point, maybe i am wrong, but i cant follow.

why Central bank intervention changes anything?
  • #1,003
  • Mar 16, 2017 2:07pm Mar 16, 2017 2:07pm
Quoting dukas_trader
{quote} i dont understand this sentence. the fee gets the broker, but broker is also a marketmember, so exact zero sum, from one hand to other. you need to tell me more the point, maybe i am wrong, but i cant follow. why Central bank intervention changes anything?

The counterpart is a market member yes, if you're a-booked then the broker acts as an intermediary and makes money on commissions.

When central banks print money that means more money in the market.
  • #1,004
  • Mar 16, 2017 2:21pm Mar 16, 2017 2:21pm
By the way spread/commission is the same to me.. if you don't pay a commision you pay a widened spread...
  • #1,005
  • Mar 16, 2017 2:25pm Mar 16, 2017 2:25pm
Quoting HeyYou
{quote} The counterpart is a market member yes, if you're a-booked then the broker acts as an intermediary and makes money on commissions. When central banks print money that means more money in the market.
more money is unimportant, because noone has the money directly, not the traders, not the broker.

definition of the market: money won/lost by all market members: traders and brokers. this printed money cant have a effect. it has for the quotes, but this is not important for the market.

trader 1 : opens eurusd buy 1,1 and closes it for 1,9.
trader 2: openes eurusd sell 0,9 and close it for 2,1.
(spread was 0,2 in both times), so each trader payed 2 times 0.1 true spread)
( you can also calculate trader 1 has opened eurusd buy at 1 and sell at 2, and had costs of true spread and commssions of 0,2)....

its only this extrem numbers to make calculation more easy.

trader one has a win of 0,8. trader 2 lost 1.2. the 0,4 was the win for the broker (or brokers with ecn...).

0,8 win trader 1 + 0,4 win broker = 1,2 loss trader 2.

you need to tell me what you calculate, so i can think about your calculation method and why our results are different. i dont understand it by words till now, why you dont come to zero market result.
  • #1,006
  • Mar 16, 2017 2:28pm Mar 16, 2017 2:28pm
Quoting HeyYou
By the way spread/commission is the same to me.. if you don't pay a commision you pay a widened spread...
yes, thats fine.
  • #1,007
  • Mar 16, 2017 2:30pm Mar 16, 2017 2:30pm
Yes , discipline is an inevitable part for using any kinds of working in a proper way. Generally we think , only good trading knowledge is able to brings success in Forex trading , but practically in spite of having proper trading knowledge that’s not possible at all to lead a healthy trading life with undoubtedly if you don’t know how to manage trading discipline.
  • #1,008
  • Mar 16, 2017 2:42pm Mar 16, 2017 2:42pm
Quoting Kanewilliams
Yes , discipline is an inevitable part for using any kinds of working in a proper way. Generally we think , only good trading knowledge is able to brings success in Forex trading , but practically in spite of having proper trading knowledge thats not possible at all to lead a healthy trading life with undoubtedly if you dont know how to manage trading discipline.
its like poker, if there are not many "fishs" many would not earn a lot of money, same in forex and all zero sum markets.
if all would use a least basic knowledge, even many "profi" trader would lose, because the charts would look complete different.

i know so many who even dont know whats the true payed spread inside their trades, and how to calculate it.
  • #1,009
  • Mar 16, 2017 2:55pm Mar 16, 2017 2:55pm
And yes you're confusing lol, I'm a bit high but I can understand that money printing has nothing to do with bulls and bears..
  • #1,010
  • Edited 3:19pm Mar 16, 2017 3:00pm | Edited 3:19pm
Quoting HeyYou
And yes you're confusing lol, I'm a bit high but I can understand that money printing has nothing to do with bulls and bears..
you need to calculate it, printing changes prices, but because in forex allways someone has buy and sell same time, the loss is win for other because of this printing. no effect at all for whole market. only that the money is less worth ( by inflation), but that is no topic inside the zero sum market. maybe you mix this?

its same like lets say poker game? do you think that printing money will change to zero sum market poker? not all all. whats lost its win for other members. if people bring in more money, it will be lost and won also same time, but on the end its still and allways a zero sum game. you dont print money inside the game/market and dont reduce money. its only exchange money from one hand to other hands. you mix the markets maybe or dont see the borders of the market.
  • #1,011
  • Mar 16, 2017 3:14pm Mar 16, 2017 3:14pm
Quoting dukas_trader
{quote} you need to calculate it, printing changes prices, but because in forex allways someone has buy and sell same time, the loss is win for other because of this printing. no effect at all for whole market. only that the money is less worth ( by inflation), but that is no topic inside the zero sum market. maybe you mix this? its same like lets say poker game? do you think that printing money will chnage to zero sum market poker? not all all. whats lost its win for other members.

Inserted Video
  • #1,012
  • Edited 5:56pm Mar 16, 2017 5:43pm | Edited 5:56pm
Trading maybe a zero sum game, spread and commissions are being paid by traders but it is what it is guys, this is trading all about, but as long that you always stay in the winners circle you will still come out profitable, so this should be the goal of every trader to focus on developing a strategy for himself that can give him more winning trades than losing trades over a period of time and in order to achieve such goal being discipline in his actions is definitely a part of it. Lets move forward!
  • #1,013
  • Mar 16, 2017 6:00pm Mar 16, 2017 6:00pm
Good to see Techboy on TE. You have made some nice trades. Missed out the strengthening Euro though. Why just a Demo account? Still not confident in your strategies to go live even using .01 lots? Give us a sample of your trading prowess.
You came here for the truth and let me unveil it for you
  • #1,014
  • Edited 7:06pm Mar 16, 2017 6:15pm | Edited 7:06pm
Quoting RondaRousey
Good to see Techboy on TE. You have made some nice trades. Missed out the strengthening Euro though. Why just a Demo account? Still not confident in your strategies to go live even using .01 lots? Give us a sample of your trading prowess.
Its a new strategy I develop actually, I have other real accounts though I have not published here at FF, nothing really special in this strategy, its pure technical in nature, trade with the trend in the 4hr chart, use money management at 3% per trade for compounding purposes, so far so good for almost 3 months. If the results are stable in the next 3 months, then I will implement this strategy in my live trading account, Good luck to your trading as well!
  • #1,015
  • Mar 16, 2017 6:48pm Mar 16, 2017 6:48pm
Quoting techboy46
Trading maybe a zero sum game, spread and commissions are being paid by traders but it is what it is guys, this is trading all about, but as long that you always stay in the winners circle you will still come out profitable, so this should be the goal of every trader to focus on developing a strategy for himself that can give him more winning trades than losing trades over a period of time and in order to achieve such goal being discipline in his actions is definitely a part of it. Lets move forward!
yes, but we spoke about the whole market, there cant be many winners, only some and many losers.

of course you need to be a winner to have trading as business or as a good hobby. but that is not so difficult, as long there are so many many people out there, that still use martingale or other fun systems, you can always make good profit from them.
and if you are not bad in math and know the basics of the market and trading its not so easy to lose, only when all other also know this basics you dont have much free money from useless strategies to get. but there is near no chance that this will happen.
  • #1,016
  • Mar 20, 2017 6:16am Mar 20, 2017 6:16am
Quoting dukas_trader
{quote} this will never work. some can do it, but when many people switch from losing to winning, how will be the winners paid? from what money? many people see only step one but not the whole game. you cant say many fail because of lack of discipline and poor risk management. because when many do correct discipline and correct moneymanagement, it will change near nothing. you will again see 80-90% from the traders will lose. you cant change the market structure, even when all trade best system with best moneymanagement and best discipline , then...

Thanks for your opinion! Even I am not saying that everybody will win by keeping good discipline, obviously if someone will win another one will be on losing side. I am just talking about one important factor to be successful in trading. Along with the dynamic Market structure what makes some traders a winner and some a loser depends on certain qualities and discipline is one of them. That’s what I meant.
  • #1,017
  • Mar 20, 2017 7:48am Mar 20, 2017 7:48am
Quoting wattsema
{quote} Thanks for your opinion! Even I am not saying that everybody will win by keeping good discipline, obviously if someone will win another one will be on losing side. I am just talking about one important factor to be successful in trading. Along with the dynamic Market structure what makes some traders a winner and some a loser depends on certain qualities and discipline is one of them. Thats what I meant.
oh, its more then a opinion, its a fact by math. you need about 80-95% losers (most are smaller then the winners) to get some and big wins to the bigger winner accounts. real live works this way in this market structure and cant work an other way.
  • #1,018
  • Mar 23, 2017 11:55am Mar 23, 2017 11:55am
Quoting dukas_trader
{quote} oh, its more then a opinion, its a fact by math. you need about 80-95% losers (most are smaller then the winners) to get some and big wins to the bigger winner accounts. real live works this way in this market structure and cant work an other way.
That is what trading is all about, survival to the fittest, its make or break kind of thing, if you cannot steer your trading in the right direction then you will definitely be a loser in the long run....
  • #1,019
  • Mar 24, 2017 6:29am Mar 24, 2017 6:29am
Quoting techboy46
{quote} Its a new strategy I develop actually, I have other real accounts though I have not published here at FF, nothing really special in this strategy, its pure technical in nature, trade with the trend in the 4hr chart, use money management at 3% per trade for compounding purposes, so far so good for almost 3 months. If the results are stable in the next 3 months, then I will implement this strategy in my live trading account, Good luck to your trading as well!
I have been shorting AUD as well but against GBP not USD so you are doing nicely. Go live.
You came here for the truth and let me unveil it for you
  • #1,020
  • Mar 25, 2017 7:02am Mar 25, 2017 7:02am
Quoting techboy46
{quote} Its a new strategy I develop actually, I have other real accounts though I have not published here at FF, nothing really special in this strategy, its pure technical in nature, trade with the trend in the 4hr chart, use money management at 3% per trade for compounding purposes, so far so good for almost 3 months. If the results are stable in the next 3 months, then I will implement this strategy in my live trading account, Good luck to your trading as well!

3 months not very long really, how many trades in that period? Have you back tested?
I live entirely from the growth of my personal trading account
0 traders viewing now