Thread: Why do 99% of the people who wants to be traders fail?

Hello friends,
I have been considering this for a long time, yet cannot locate the reply to this question, why does 99 percent of those people who wants to become traders fail? What is that 1 percent of individuals that has figured it out, that we can not figure it or has it.

After dismissing off a few accouts, I have been in pursuit to obtain the solution. I have read book after novels, read sites following logs, yet not one of them actually tells you what it is? Then again if they understand, they might keep a secrete to it. After all, we're talking about taking somebody else's money.

I have read it's about following a method to money managemet and so forth. I really don't understand the answer lies with in any techinical or automated method. Money managenment will only prolong the inevitable or never realize the full potential. This just my humble view, so please don't attak me.

I chose to post this question to fellow trader wanna bes' to find out what you think about, why does 99 percent of individuals fail when it has to do with trading? I was hoping that we all could locate it, Because I am unable to find THE answer on my own. Everything this is the thing is going to save us.

Please don't hesitate to talk about your ideas and experience.

91303

Originally Posted by ;

No, it's not a joke partner.

Whether you like it or not, there ARE people out there who SIMPLY CAN'T CONTROL THEIR EMOTIONS. They can not keep them. And if that is true, what chance does one have with MM?

Can you think you could control your feelings if each tick increased or decreased your account by 5 percent?

Can you think you could control your feelings if you knew that, if the worst happened, and the trade hit on your stoploss, the maximum you would lose is 1 percent of your account?

Can you see then, how MM is the path to controlling your own emotions?

91380

Originally Posted by ;

GENERIC PART
the majority of the men and women who wishes to become traders fail because the majority of the people of the planet fail anyway whatever they try to accomplish. Most of the people have fat wives, awful children, small houses, minimal eduion, zero self-esteem, dull (or even unbearable) tasks and accept to succumb all the time for their arrogant bosses on the job and hysteric relatives in the home. I am aware that it is extremely sad, but it is a fact: because they are losers, most of the world's people fail.
Now, if you do not believe what I'm saying, be fair, just go out and walk just a little bit in the streets around your home: how many Claudia Schiffer or even Albert Einstein do they live in your area?
We are a consequence of genetic selection. Selection won't ever win anything in almost any context that is even only a little bit more challenging, and generates elements that will never do anything specific in their lifetime. Infrequently genetic selection generates first-rate components, perhaps 1% of their time, that in itself is the answer to why 99% of those men and women who wishes to be traders neglects.

Gotta disagree with this time, Ubee. Your premise is plausible, but makes the assumption that an even cross-section of humanity attempts trading. My opinion is that this would never try, those are the losers. I think those that try this would generally be among the most intellegent, realized, and aggressive in different regions.

Originally Posted by ;

For a clear example of what I'm talking about here please read this post that I think to be among the very useful and intelligent post you may ever find on FF.

Hey, now I know where Brett gets his stuff. Ubee, OUR posts are read by him!

91380

Originally Posted by ;

I know I'm going to be hated for what I'm going to write, but I'm going to do it anyway because I think that it could be enlightening (to couple ).

GENERIC PART
Most of the people who wants to become traders fail because the majority of the people of the world fail anyway whatever they try to accomplish. The majority of the people have fat wives, ugly children, small houses, minimum eduion, zero self-esteem, boring (or even unbearable) tasks and take to succumb all of the time to their arrogant bosses at work and hysteric relatives at home. I am aware that it's very sad, but it's a truth: because they're losers, most of the world's people fail.
But if you don't think what I'm saying, be honest, go out and walk just a little bit in the roads around your home: how many Claudia Schiffer or even Albert Einstein do they reside in your area?
We're a result of genetic selection. Selection will never win anything in almost any circumstance that's even only a little bit more challenging, and the majority of the time generates elements which will never do anything special in their life. Rarely selection generates first-rate elements, maybe only 1% of their time, which in itself is the answer to 99% of the people who wants to be traders neglects.

TRADING SPECIFIC PART (not only FX )Trading appears easy. This is the number one reason people fail . You see all that money going up and down all day (as well as FX also night) and it appears real, concrete, concrete, it looks like a lake so full of fishes which you can see them leaping and swimming and calling one to go there and readily ch them. You discover they're piraña.
. Losers are winners and at the deep of these they know they're losers. Knowing this they try their best all to refrain from doing hard things and concentrate themselves on things that are easy. The problem here is that trading appears easy, so losers believe trading is just the thing for them to perform. Rather than working hard to get a better job, a more comprehensive eduion, a beautiful spouse, more self-esteem etc (these are all hard things to do) they just prefer to trade: it's simpler! Therefore investing in itself naturally brings more loosers than people that are gifted.
. Losers feels urgency to start gambling (read: to start making something that's simple ) just as soon as they've just got a bad stroke in their life, like after having been fired at work, or their spouse left themor having contracted a significant debt with a creditor, or (for youngers) having neglected at school or faculty, etc. They start under powerful pressure, in the worst case scenario and only after having found how losers they are.
. Trading in itself is no harder than a lot of tasks of this world, but there are no official esteemed and recognized schools which teach trading. Vast majority of the time you will only find gurus mentors traders that promise to show you trading's concealed secrets which will enrich you beyond your wildest fantasy in a couple of weeks. There are of course good and mentors, but you have to find them, and they're rare. Actually being the area of wannabe traders populated by losers a lot of scammers exist because they know it's easy to fool losers.
. Trading is hard because whoever gets very good at it only rarely feels the urgency to instruct other people his awareness. They usually teachs into some of best friends or their relatives and that is it. Once you find mentors that are honest you'll soon find that although they are truly superior as trader, and it's a fact that they make a living out of trading, it's also true they're not any outstanding winner of trading. They are only good and honest average traders with ability in teaching. Unless you are quite close to them, You'll never get mentorship that is personal from the actual winners.
. Trading is hard because being the understanding within this field so unorganized lots of totally false myths flourish at the rate of light and shortly become the recognized truth for the vast majority of wannabe traders that, being manufactured of losers, are especially good at getting mixed up on what's good and what's crap. On FF you could ever find To get a very clear illustration of what I'm discussing here read this article that I consider to be among the post.
. People fail in trading because the majority of the time rather than studying, practicing and learning the markets that they squander all their energies studying on forums like FF the complainings and the laments of losers that cry all of the time that there isn't any way at all to become profitable with FX, which whoever says he's earning money is a liar and an impostor and if somebody demones to become profitable showing true statements losers say it was only luck (so only very temporary success which will definitely very soon be reverted to enormous losses), and waste their time composing replies to this losers stuff. So I think it's better I stop here.

That is a excellent post. 100% Agree. Alot of Truth, should be made a Sticky to Read. Should be placed into an ebook.

91380

Originally Posted by ;

Gotta disagree with this time, Ubee. Your premise is plausible, but creates the premise that an cross-section of humankind attempts trading. My view is that this would never try, those are the real losers. I feel those that try this would generally be one of the very intellegent, accomplished, and aggressive in different areas.

My expertise (limited, I have to admit) was different up to now. I've never known any individual that never attempted at one time in his/her life to earn some type of financial trading. Vast majority of them, surely, only followed some suggestions from their bank to buy stocks of the that firm (or a fund), and after having lost money instantly stopped, and forever. Those surely are the biggest winners.
On the opposite side I agree with you that those that rather resisted the first losses and chose to go on attempting to understand and learn are usually people who had had some type of success in different areas of the lifetime and could not be considered the biggest winners, and of course it's between them which you find that 1 percent which can do it, but still the great majority of them typically stops trying in a single or in a couple of decades.
Anyway if for trading you just intend what we are doing here (on these forums) and not any sort of risk investment, then, well, you're right. I also feel that those who have arrived at the point to read and write on forums like this is way before the majority of losers. For example in my infancy, when I had been one of the biggest loser ever (in trading)I never believed forums like this would be useful.

Originally Posted by ;

Hey, now I understand where Brett gets his material. Ubee, OUR articles are read by him!

If I just had discovered that writer some years ago I'd have saved a lot of money in losses spent only to discover what he writes.

91380

Originally Posted by ;

My experience (limited, I have to admit) was different so far. I have never understood any person who never attempted at one time in his/her life to earn some type of trading. Vast majority of them, certainly, only followed some suggestions in their bank to buy stocks of this or that firm (or a finance ), and later having lost money instantly ceased, and forever. Those are the winners.
On the opposite side I agree with you that those who rather resisted the very first losses and decided to go on trying to learn and understand are usually people that already had some type of success in other areas of their lifetime and couldn't be considered the biggest winners, and of course it's between them that you find that 1% that will get it done, but still the great majority of them generally stops trying in a single or in a few decades.

Anyway if for trading you just intend what we're doing here (on these forums) and not any type of risk investment, then, well, you are right. In addition, I think that those who have arrived to write and read on forums such as this is way ahead of the vast majority of losers. For example in my beginnings, when I had been one of the biggest loser of all time (in trading)I never believed forums in this way could be useful.

If I only had discovered that writer some years ago I would have saved a lot of money in losses spent only to discover what he writes.

SureI agree everyone invests at one time or another, I had been speaking to the type of trading we do. However, Brett's post appeared to say that traders came out of a much cross-section.

91380yeah, nicely. . .to be honest, I never got the advantage thing. . .can anybody give an example of an advantage to me? And I mean exceptional understanding of what's happening...a true advantage. . .please point me to it. . .all I understand is, I must press it a bit if my trading is runnig well. . .if it doesnt moving nicely, I must cut it down. . .the hardest part is to not attempt and press a lousy day...

913801 Structure (s) These threads are so laborious and distracting to the mind.

I posted this in another thread in which it probably was not very applicable.
Perhaps it will be more help here?

The source, stems from times as old as Confucius and Socrates.

So far as I know, this is the way it actually begun.


He who knows not, and knows not that he knows not, is a fool - shun him(= Unconscious Incompetent)
He who knows not, and knows that he knows not is ignorant - teach him(= Conscious Incompetent)
He knows, and knows not that he knows, is asleep - wake him(= Unconscious Competent)
But he knows, and knows that he knows, is a smart man - follow him, (= Conscious Competent)

And I think that it's point is exactly what others have made over once (probably over a million times)

Eduion, Hard Work and Attitude/State of Mind trump all.

91380This is my uderstanding concerning Why...


https://www.nigeriaforextrading.com/...de-system.html

91380

Originally Posted by ;

yeah, well. . .to be honest, I never got the advantage thing. . .can anyone give an example of an advantage to me? And I dont mean exceptional understanding of what's happening...a true advantage. . .please point me to it...

This is a challenging question to answer as nobody will give away or reveal an edge; just since they do this edge will disappear.

However, if I will use an illustration irrelevant to forex, then card counters at a casino have an edge over the house.
Umm... is it really irrelevant to forex?