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

[Silvivivis]

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.

[pulifam]

91303
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?

[pulifam]

91380
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.

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!

[Bmeken]

91380
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.

[samasapkm]

91380
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.


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.

[pulifam]

91380
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.

[evaoxmlinm]

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...

[KbayEmic]

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.
https://www.nigeriaforextrading.com/attachments/15194623911777375284.png

[beneoxkaveli]

91380This is my uderstanding concerning Why...


https://www.nigeriaforextrading.com/trading-discussion/79-good-position-trade-system.html

[Oxnu]

91380
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?

[JlleAnpknio62]

91380An advantage is simply expectancy - that the anticipation you will come out ahead over the years even the supply of losses and wins may in reality be arbitrary. A casino has favorable expectancy but cannot be certain those profits will come. In the markets that this can be based on analysis of data and of course therefore there are no guarantees as a market does not have any permanant mean.

[lcaslmo11]

91380Please allow me to clarify, I#8217;m a new trader, I did blow out, my account, Within my second I#8217;m averaging about 10% return per week. At First I attempted to Understand the chart reading and you make move on this but actually It#8217;s difficult to figure that out, I don#8217;t think you can#8217;t predict the future by looking at the past, I start just trading by looking at the news, Should you read directly you could have a good Thought were that rate goes, Don#8217;t remain there for quite a while but just enough to earn some pip, what ever you are delighted with, I I#8217;m joyful getting between 5 to 10, I get out, So weekly,y average is 10%. When I had been searching and attempting to browse the charts, I had been losing allot and might remain with this open position for times to break even, or becoming out using a lost. I could be wrong but so far so good.

[poxxoloco23]

91380i believe most traders fail due to some'unknown' force that keeps it that way.

I mean if trading was simple, where everyboyd is profiting and making money, nobody will do anything successful in the actual world. The world economy would fall.

Perhaps it is the Currency Market gods that keep the winning percent low so that the remainder of us would go out there and WORK.

[nolbem]

91380
On my second up to now I am averaging about 10% return per week. [/size] WOW! With compoundidng you will double your account every 8 weeks and achieve a 6497% return per annum. Beginning with a micro account you will be worth over 4.25 million in just two years surpassing any other traders results ever! Dont you think thats a little odd to get a newbie who cant see a chart? It is unlikely that you can translate the news so you are dependant on the perspectives of analysts to call a management for you and they're notoriously innacurate. We are just six weeks to the year and if you last another six without at least an additional blown account I will be astounded - do some research on risk management and odds if you want to prevent my prediction comming true - its all here on FF

[minilu]

91380
WOW! With compoundidng you will double check your account and achieve a 6497% return per annum. Starting with a 1k account you will be worth over 4.25 million in two years surpassing any other traders outcomes ! Dont you think thats a bit strange for a newbie who cant read a chart? It's improbable that you can translate the news so you are dependant on the views of analysts to call a management for you and they're notoriously innacurate.
While it's probably a bit too optimistic, you do not have to call a management at all. Simply put a buy-sell stop pair a few pips from the current location (ATR can help with that, look at nonstop news ATR swings and compare). Figured that out my 2nd week trading so I could see someone new doing this. Only problem will be translating this to a real account... slippage and high spreads make news trading very difficult, and though you are able to exchange the rebound... I'm not sure it is well worth following each little news story just to hope for a dollar. Appears to be a heart attack waiting to happen.

[pablolmga]

91380
.... Technical trading on it's own can't work long term. .... Warren, I have no doubt that you're effective, and I congratulate you.

But, there are individuals who claim to be consistently profitable, using purely technical methods.

Once a trader has found his own winning strategy, I guess it stands to reason that he no longer continues to investigate additional approaches, and hence runs the risk if creating a kind of tunnel vision. I feel it's not necessarily correct to assume that, simply because the strategy of somebody else is not like one's own way, that it's doomed to fail. As Jack Schwager says in The New Market Wizards (assuming it's applicable to forex also) you will find a million ways to earn money in the markets; the irony is that they're all rather difficult to find.

Because of why so many traders fail, there's a lot of randomness in price movement, and my experience is that it may take a few months of testing to find a pattern that delivers an edge. There are a few that have claimed to attained it I feel that it's possible, although I'm not there yet myself. Many newcomers have been seduced into believing that forex trading aren't ready when they discover that it's not the situation, to spend the hard yards, and is money. The dediion needed can place tremendous strain on one's career, family and marriage priorities. It takes some resilience to continue persevering, following a few fruing months (or possibly even years) of bad, umpromising or inconclusive results. I expect that these factors help all contribute to the high dropout rate.

I also feel that aspiring intraday traders underestimate the impact of prices across a large number of transactions (spread may be lt; 5 percent of a move, but casinos earn billions from a 1 percent advantage ), and there is also the chance of quit hunting and broker cheating.

I think that the MM and plogy aspects definitely take their toll, but are overrated. Of course if a newcomer sizes positions recklessly and/or makes entrances or exits based on emotion or hunches, he'll ultimately fail. If he doesn't have a method that is capable of beating the 19, but the exact same goes.

In similar vein, so I do not feel that maintaining a positive attitude by itself is sufficient. Because I generate as much positive energy as I can when I buy a lottery ticket, it doesn't alter the chances, and I don't see trading ought to be different. But of course a negative attitude is self-defeating.

Last year I exchanged a live account for almost 4 months and I lost around 9 percent. I could honestly say that I sized all places at risk, maintained a enough attitude, and maintained to my plan with subject. But my plan did not time the entrances and exits accurately enough, and consequently did not deliver an edge. As a result, I lost money, and closed the account.

David

[pablolmga]

91380
Trading is hard because being the understanding within this discipline so unorganized lots of completely false myths flourish at the rate of light and shortly become the established fact for the huge majority of wannabe traders who, being made of winners, are particularly great at getting mixed up on what's good and what's crap. For a very clear illustration of what I'm talking about here read this article that I consider to be among the post you may find on FF.
. People today fail in trading because most of the time rather than studying, learning and practicing the markets they waste all of their energies studying on forums such as FF that the complainings and the laments of winners that yell all of the time that there is no way at all to become profitable with forex, which whoever says he is earning money is a liar and an impostor and if someone demones to become profitable showing true statements losers say it was only luck (so just really temporary success which will surely really soon be reverted to enormous losses), and waste their time composing replies to that winners stuff. So I think it's better I stop here. Nice article, Ubeee, I particularly agree with the components I have selected above. I spend time replying to forum articles myself! And many thanks for the link to Dr Steenbarger's post - it makes a lot of sense for me (particularly The most important cause of trading collapse is a lack of an objective advantage in the marketplace, trading random patterns which have never been analyzed out for achievement .)

Best wishes,
David

[samasapkm]

91380
Nice article, UbeeeI particularly agree with the components I have selected above. I probably spend time responding to forum articles myself! David, your articles are typically quite valuable. I understand how much time needed to produce the type of accurate posts that you write and that is the reason why I normally read them carefully.
The sad part of all this is that in life, assuming you just work hard and that you're really committed, you are able to do almost everything you want but you: have the time to just flow a little bit slower. Time is really. It's mandatory to use it at the manner we could.

[lcaslmo11]

91380
WOW! With compoundidng you'll double your account every 8 months and reach a 6497% return per annum. Beginning with a 1k account you'll be worth over 4.25 million in just two years exceeding any other traders results! Can you think thats a little odd for a newbie who cant read a chart? It is improbable you could translate the news so you are dependant on analysts' views to call a direction for you and they're notoriously innacurate. We're just six months into the year and should you last another six without at least one more blown account I'll be astounded - do some research on risk management and odds if you want to prevent my forecast comming accurate - its here on FF Well so far it's been working for me yet another 10 percent this week, I am glad you did all of that mathematics for me, but I really do believe 10% will return to a closer window, I only Open one trade in the time, when I am at a optimistic, I get out, with news, 90 percent of the time you will notice a drop or a win of a minimum of 10pip, now depending upon your leverage you can certainly do 10% a week. I really do believe chart may be read, however I am sure it takes allot of expertise and education to learn this. Although you can, good for you, however please educate me, I get confused with this method, and actually I'm guessing when a determination is made by a. So far News work for me

[Gavigilpk]

91380
I know I'm going to be hated for what I'm going to write, but I am planning to do it anyway because I think it could be enlightening (to few).

GENERIC PART
Most of the men and women who wishes to be traders fail because most of the people of the world fail anyhow whatever they try to achieve. Most of the folks have fat wives, awful kids, small homes, minimal eduion, zero self-esteem, boring (or even unbearable) tasks and accept to succumb all the time to their arrogant bosses on the job and hysteric relatives in the home. I know it is extremely sad, but it is a fact: because they are losers, most of the people of the world fail.
Now, if you do not believe what I am saying, be truthful, just head out and walk a little bit in the roads around your home: how many Claudia Schiffer or Albert Einstein do they reside in your area?
We are a result of genetic selection. Genetic selection most of the time produces elements that will never do anything specific and will never win anything in almost any circumstance that is even only a little bit challenging. Only very hereditary choice produces first-rate components, maybe only 1 percent of the time, that in itself is the answer to 99 percent of the men and women who wishes to be traders fails.

TRADING SPECIFIC PART (not only forex)Trading appears simple. This is. You see all that money going up and down all day (and with forex too night) and it appears real, concrete, concrete, it seems like a lake so full of fishes that you can see them jumping and swimming and calling you to go there and easily ch them. You discover they are piraña.
. Losers are winners and at the deep of themselves they know they are losers. Knowing this they try all of their very best to avoid doing things that are hard and concentrate themselves only on things that are simple. The problem here is that trading appears simple, so losers think trading is just the thing for them to do. Instead of working hard to get a better job, a more complete eduion, a more beautiful wife, more self-esteem and so on (these are hard things to do) they just want to exchange: it's more easy! Therefore investing in itself naturally brings more loosers than gifted men and women.
. Losers feels more urgency to begin gambling (read: to begin making something that is easy) just after they have just got a terrible stroke in their lifetime, like after having been terminated on the job, or their wife left themor never contracted a big debt with a creditor, or (for youngers) having neglected at school or college, and so on. They begin under strong pressure, at the worst case scenario and only after having found they are.
. Trading in itself is not any tougher than a lot of different tasks of this world, but there aren't any official, widely esteemed and recognized schools that educate trading. Vast majority of the time you will only find gurus, suspicious mentors traders who promise to reveal you trading's concealed secrets that will enrich you beyond your wildest fantasy in a few weeks. There are of course good and honest mentors, but you have to locate them, and they are rare. Actually being the world of traders populated by losers a lot of scammers exist because they know it's easy to fool losers.
. Trading is hard as anyone gets really very good at it only infrequently feels the urgency to teach other men and women his knowledge. They teachs into that is it and some of friends or their relatives. Even once you find mentors you will soon discover that while they are good as trader, and it's true that they create a living from trading, it is also true they're not any winner of trading. They are only honest and good average traders with skill in teaching. You will never secure personal mentorship from the actual winners unless you're already quite close to them.
. Trading is tough because being the understanding in this field so unorganized lots of completely false myths thrive in the speed of light and shortly become the recognized fact for the vast majority of wannabe traders who, being manufactured of losers, are particularly good at getting mixed up on what is good and what is crap. On FF you may ever find To get a very clear illustration of what I am discussing here read this article that I think to be one of the most useful and intelligent post.
. People fail at trading because most of the time rather than studying, learning and practicing the markets that they squander all of their energies reading on forums like FF that the complainings and the laments of winners that yell all the time that there is no way whatsoever to be profitable with forex, that whomever says he is earning money is a liar and an impostor and when somebody demones to be profitable showing true statements losers say it was only luck (so only very temporary success that will definitely very soon be reverted to huge losses), and waste their time writing answers to this losers stuff. Well, I think it's better I stop here. This is maybe a better post than the one which you supplied a hyperlink to, which has been great to start with. This should be a sticky.

[nolbem]

91380
currently based on your leverage you could easy do 10 per cent weekly. I do believe chart could be read, however I'm sure it takes allot of experience and schooling to learn this. If you are able, great for you, however please teach me, I get confused with all this method, and actually I'm guessing when a determination is made by a. So far News work for me what's your stop loss per trade? What is your win loss ratio up to now?
Allow me to know when it starts to lose 10% or more per week and Ill will happily teach you how to trade very reliably using just support and resistence confluence as determined using TA. I will take classes from you, 20, Should you succeed in achieveing 10% per week every week then?

[nolbem]

Just put a buy-sell stop pair some pips from the current location (ATR can help with that, look at non news ATR swings and compare). You're suggesting to enter after price has moved past the ATR from the direction you'll be trading. You will be buying into selling and strength into weakness. It seems like a winning egy but the reality is, you are always chasing the market. This is precisely what most losing traders do.The likelihood of price retracing against you're high. Better to hunt your trade by setting traps at predetermined support and resistence amounts. When price comes to you and also the level is respected by the market, your trade moves fast into profit with little if any draw down. Have a look at E/J on the 20TH Feb at 10.00am gmt, would you believe I had a limit sell prepared at the top of the hour to the specific pip? (158.97) I took 50 pips outside

[jmgomgwz]

Warren, I have no doubt that you are effective, and I congratulate you.

But, there are those who claim to be always profitable, using purely technical methods.

Once a trader has discovered his very own winning method, I guess it stands to reason that he no longer continues to investigate additional approaches, and hence runs the risk when creating a sort of tunnel vision. I believe it is not necessarily correct to assume that, just because someone else's method isn't like one's own winning manner, that it is doomed to fail. Since Jack Schwager says in The New Market Wizards (assuming it is applicable to forex too ) there are a million ways to make money in the markets; the stark reality is that they're all rather hard to find.

As to why so many traders fail, there's a lot of randomness in price movement, and my experience is that it can take several weeks of testing to find a pattern that provides an edge. I'm not there yet myself, but there are some that have promised to achieved it, hence I believe that it is possible. Many newcomers have been seduced into believing that forex trading is easy money, and are not ready to put in the hard yards when they find that it is not the situation. The dediion can put tremendous strain on one's career, marriage and family priorities. It takes some resilience to keep on persevering, after several fruing weeks (or possibly even years) of bad, umpromising or inconclusive results. I expect that all of these variables help bring about the high dropout rate.

I also believe that aspiring intraday traders underestimate the impact of prices across a large number of trades (spread might be lt; 5 percent of a move, but casinos make billions from a 1% edge), and there is also the chance of stop hunting and broker jobless.

I think that the MM and plogy aspects definitely take their toll, but are overrated. Of course if a newcomer dimensions positions recklessly and/or makes exits or entries based on emotion or hunches, he will ultimately fail. But the same goes if he does not have a method that's capable of beating the odds.

In similar vein, so I really don't believe that maintaining a positive attitude by itself is enough. Just because I generate as much positive energy as I can when I buy a lottery ticket, it does not alter the odds, and I really don't see why trading ought to be any different. However, of course a negative attitude is self-defeating.

Last year I traded a stay account for almost 4 weeks and I lost around 9%. I can honestly state that I sized all places at 1% risk, preserved a favorable enough attitude, and kept to my entry/exit plan with 100% subject. However, my plan did not time the entries and exits accurately enough, and consequently did not deliver an edge. As a result, I lost money, and shut the account.

David
Your post is thoughtful and incredibly smart.

The KEY is the EDGE.

Here is the EDGE in the event that you truly want it.

It takes some time and hard work.

How about if I email you a actual customer's file that reveals I created 693 FX transactions in a row with no loss?

The above remark isn't about bragging but just to establish my incredible credentials.

The rest of the variables and points are needed and valid. You want a border. I average over 20 percent boost in Cash Asset Value per month. I've got the EDGE.

Good FX trading to you personally and have a great day.

Bruce

[KbayEmic]

... How about if I email you a true customer's file which shows that I made 693 FX trades in a row without a loss? ... Just how long a time period?
You read Snellgrove's book?
With very selective entries and exits, this is very attainable by many.


... not about bragging but just to establish my amazing credentials... Kinda sounds exactly the same issue to me. No offense.


I've the EDGE. No. You have an advantage. Not the advantage


I average over 20% growth in Cash Asset Value a month. I have the EDGE. I enjoy the moxy, don't get me wrong. However, why is it that you feel you have to continuously, in every post, reaffirm it to us and yourself?
Only trying to understand the underlying motive and mindset is , as the last person with this kind of personality traits which I worked with, was in fact the most insecure out of all of the members of the group. It's a common mental defense mechanism.
Kind of a . . .the empty can rattles the most. . cliche.
And for me personally, the more times I read statements like this from people, the less I believe them.
I'm just saying it may start with the negative impact on your audience that you are expecting it will.

[peli10]

In the beginning, when you listen to 95% or 99% of traders fail, you kind of give it a second thought. In fact, do not forget that a lot of traders are new, unexperienced and do not do anything more than some kind of betting when they choose a position. Additionally, some of them jump from a system to another trying to find the HOLY GRAIL. The Foreign Exchange Market has nothing to do with all the holy grail because we imagine it. There is a Holy Grail for everybody on Earth, whether it is working as a very simple employée, an entrepreneur, a policeman, a lawyer or a forex trader, it doesn't make a difference. In fact, what seems perfect to you might be your Holy Grail, but what's ideal to you might not be ideal to another's eyes. So in this market the Holy Grail, whatever people might call it, is somewhat different for every one of us.

[jmgomgwz]

Over how long a period of time?
You ever read Snellgrove's publication?
With very selective entrances and exits, this is quite attainable by many.

Kinda sounds exactly the Exact Same thing to me. No offense.

No. You've got an edge. Not the border

I enjoy the moxy, do not get me wrong. However, why do you feel you have to continuously, in every article, reaffirm it to yourself and us?
Just trying to understand the underlying motive and mindset is , as the last person with such personality traits which I worked with, was actually the very insecure out of all of the members of the group. It's a common mental defense mechanism.
Kind of a . . .the empty can rattles the most. . cliche.
And to me , the more times I read statements like this in people, the less I believe them.
I am just saying it may begin having the negative impact on your audience that you are expecting it will.

Due to my open honest fashion there have been, not particularily at this location but for sure at Oanda FX forum, parties which always insult, defame me one of many other issues that relates to my personality and character.

That said maybe I am a little defensive when my record is contested.

I accept your positive comments 100% and that I enjoyed reading your article.

Let me give you a particular case of the EDGE that I have through my knowledge of the fundamentals.

Before 10:00 AM EST that the USD/JPY pair that I trade was previously 108.00

My anticipation was for a worse than consensus Philly Fed amount at 10:00
also it turned out to be a correction assumption.

I trade USD/JPY with RESISTANCE for me 108.50 and I brief it everytime it heads up there. I then wait NEW news and voila.

The Low in the last few moments was 107.71

I shut ALL my rankings and got 50 PIPS on 5 positions of 100K.

The USD/JPY correlates to the Dow going up and down. The Carry Trade in the USD/JPY is unwinding. The US Dolar Index is moving under 76.00

The FED Should CUT in March.

By the way the 693 FX trades of 100K was performed between October 2, 2007 and October 30m 2007.

Best regards

Bruce

[KbayEmic]

Because of my open honest style there have been, not particularily at this location but for sure at Oanda FX forum, parties which always insult, defame me one of a number of different issues that relates to my personality and character.

That said perhaps I am a bit defensive when my listing is contested.

I take your positive comments 100% and I enjoyed reading your post. That I was not asking you to describe your strategy. I have read a lot of it thanks. And was not attempting to insult or defame you.
I was more challenging your really bold statements, especially having THE EDGE. When in reality a single, one-and-only edge does not exist.
And all you're doing is trading s/r with a little bit of fundie in the mix.

I was attempting to know that the intent behind it all. That you always appear to dodge nicely by submitting a position upgrade, or a current trade.

I suppose I only have issues with people such as yourself, that at first glance appear to think they're the be all and end to trading Currency Market.
I ask direct questions concerning why they think that they are, and what their agenda is for having to inform everyone.

I'm yet to have a direct response in return...

I would suggest writing and publishing a book as so many other guru's have done. Stick it on a shelf somewhere and you won't need to always avoid dealing with direct questions from skeptical people like me at a public forum

[jmgomgwz]

I wasn't asking you to explain your methodology. I've read a lot of this. And wasn't attempting to insult or defame you.
I had been more challenging your really bold statements, especially having THE EDGE. When in reality one, one-and-only edge doesn't exist.
And all you are doing is trading s/r using a little bit of fundie from the mixture.

I had been attempting to know that the intent behind it all. That you always appear to dodge nicely by posting a position upgrade, or a recent trade.

I suppose I just have issues with folks such as yourself, that at first glance appear to believe they are the be all and end to trading Currency Market.
I ask direct questions as to why they believe they are, and what their agenda is for having to tell everybody.

I am yet to have an immediate response in return...

I would suggest writing and publishing a novel so many other guru's have done. Stick it on a shelf somewhere and you also won't have to always avoid coping with direct queries from healthily skeptical folks like me at a public forum
I hope to be in a position to immediately answer your query here and today.

I believe we agree that 90% plus of FX currency traders eliminate money. I have reviewed Barclay's and others who report performances of FX currency traders.

Someone managing over $1,000,000 US dollars should they reach a return of 50% to the year could be regarded in the top 10 in the entire world.

I only started trading FX using Demo accounts from September 2003 until March 8, 2006 after which managing funds for different people under a LPOA from March 9, 2006 until present moment.

I have had as high as $250,000 US dollars under management with a dozen clients.

I have learned so much since September 2003 and I have much to understand.

Just ACCEPT that one fact I can PROVE if need be.

The fact...


I Typical PLUS 20% return a month per month I trade.

Don't you believe I asked myself at one thousand times why?

Why do I go 693 FX transactions in a row with no loss? Why do I average plus 20 percent a month constantly?

I can only come up with a single response.

I have the EDGE and I am just that darn good.

What else can I say. I now am working with bigger investors to place together One Million US dollars in FX trading funds.

After I trade this sum for a single year and raise the value of this fund by 100% I'll return here to post. Then perhaps you might accept I have the EDGE.

Either way that the way forawrd is clear and bright.

I exchanged a Demo account through PFG in Chicago they set up for me having an amount of $5,000,000 US dollars.

I exchanged it for exactly 56 times or 8 months and did 1804 FX trades.

I had 4 losses in 1804 FX trades.

I raised the Demo account to PLUS $7,500,000 US dollars.

Would you prefer me to send you the documented PDF file of these 1804 FX trades?

Maybe that might confirm my EDGE...

Please know this is not a arrogant post but one simply stating the truth.

Sincerely yours

Bruce

[agmeseven]

What else could I say. I am working with larger investors to put together One Million US dollars in FX trading capital. One Million? Is not that peanuts?
I've about 12 Million alone. 1 Mio is nothing.
You can have evidence if you want.

[jmgomgwz]

One Million? Is not that peanuts?
I've about 12 Million alone. 1 Mio is nothing.
You'll have proof if you want. If you're serious then ship it into the

if you're not have a fantastic day.

Bruce

it's so simple if you truly need the truth rather than massage your EGO by placing down someone to feel exceptional.

Just give me your email and I will send you the proof.

If you simply show me who is real and who is just them.

Have a Excellent Day All...

[KbayEmic]

I hope to be able to immediately answer your query here and today. So did I.. .


Don't you believe I asked myself at least one million times?
Why can I go 693 FX transactions in a row without a loss? Why is it that I average plus 20% per month consistently?
That I am only able to come up with one response.
I have the EDGE and I am just that damn good. So what you're actually saying afterward is... You don't know why.


What else could I say. Please. Say no more.


Then maybe you might accept I have the EDGE. Nope. Sorry.


Would you like me to send you the registered PDF file of those 1804 FX trades? No thanks. To what purpose. You won't get your ego stroked with me.


Maybe which may affirm my EDGE... If you could specify it, prior to trying affirm it. Or having it confirmed by others.

[agmeseven]

Warren Forex,

you've got email.

[Ganihulk]

Pissing contest...

[oxmay]

An reply to this Thread title can be found in this informative article.
https://www.nigeriaforextrading.com/trading-discussion/86-vantage-point-software.html

[semgioMM1902]

U always come up with something mrgreen..Still remember the first month when I join this forum and asking how to make a ribbon https://www.nigeriaforextrading.com/trading-system-and-egies/95-bakulis-trading-journal.html

Hope u doin' good, and thx


An answer to the Thread title can be found in this informative article.
https://www.nigeriaforextrading.com/trading-discussion/87-indiors.html

[KbayEmic]

Pissing contest...
I Was Able to know a guy who had a Popular Expression, That was:

He Would have to be able piss a bucket full of foam until he f*#ks with me

[jmgomgwz]

I used to know a man who had a favorite expression, that was:

He'd need to have the ability piss a bucket filled with foam before he f*#ks with me
I do not want my EGO stroked. I only started this FX thread in order to teach people how to trade properly in order to make money.

My only reward is the satisfaction of helping just 1 person.

Should you not understand or admit that it doesn't matter.

Great Trading and depart the EGO at home.

The significance of the last opinion is that no reply is needed to this post.

You are free to post but if you do then it's your EGO that posts.

I do not need anybody's approval.

You asked me a question and I tried to answer it frankly.

Great Day and have a great weekend. I surely will.

Bruce

[pablolmga]

Your post is thoughtful and very smart.

The KEY is your EDGE.

This is your EDGE in the event you truly want it.

It takes time and hard work.

How about if I email you a true customer's file that shows I made 693 FX trades in a row without a loss?

The preceding comment isn't about bragging but simply to set my amazing credentials.

All other variables and points are needed and valid. However you need an edge. I average over 20 percent increase in Cash Asset Value a month. I have the EDGE.

Great FX trading to you personally and have a great day.

Bruce Bruce, thanks for your kind remarks.

No disrespect intended, but even if you send me proof of your amazing credentials, it is not likely to help me establish my own edge. If you have made 693 trades without a single loss, I congratulate you. (You will find folk who claim a 100% win rate by not using stoplosses, and ignoring unrealized losses, but I assume that you're not among them).

Best wishes,
David

[agmeseven]

I am still waiting for it. ^^
Hey at least I've revealed my multi-million fortune .
He owes me something....
So by now I am the only one here talking the truth...

[KbayEmic]

I don't need my EGO stroked. I only started this FX thread in order to teach people how to trade properly in order to make money. I am not sure you actually think before you type. I have seen and worked with traders a lot better than yourself that did not make claims such as these.


My only reward is the satisfaction of helping just one person. You may find that does in fact become the instance.


Great Trading and depart the EGO in your home. Practice what you preach.


You are totally free to post but if you do then it's your EGO that posts. Agreed. It is an inevitable human ailment, created by countless of pre-conditioning. However, at least I can exercise some degree of control over mine.


I don't need anybody's approval. Agreed. And that's a shame.


You asked me a question and I attempted to answer it frankly. If you say so. You have to remember, there are two truths in this life.


I surely will. Now I really do believe.

I'll leave it at that. All the best in your endevour. I sincerely expect the market gods show you some mercy.

[kmasnoyamsk]

It might be a pissing contest, but it was a good read. Warren, you might be an excellent trader, but I've got to mention, fsiltd has the advantage when it comes to words...

David has it spot on with the positive thinking - it doesn't change the likelihood of whatever system your own trading. So many systems (rather than just technical) on this forum and many others don't have any positive expectancy at all, therefore the best-case scenario with appropriate money management is a slow bleeding to death.

In summary, you can be happiest, most optimistic positive thinker however, you can't polish a trd..

[agmeseven]

Still have not got any response from him.

[jmgomgwz]

Still haven't got any response from him. I just post here to be helpful. It also helps me to unwind by sharing my knowledge.

As for my credentials it is so straightforward. Just send me an email to and I can send you the PDF file of my 1502 REAL FX transactions between October 2, 2007 and November 6, 2007 where I was able $99,980 US Dollars to get a client out of Hong Kong and that I earned him $19,246.02 in actual profits. My first 693 FX transactions were wins.

How much more direct can that be?

Now for the question! What do you want answered?

I am awaiting the question.

Thank You...

Sincerely

Bruce

[sanlangsag]

I just started trading FX using Demo accounts from September 2003 until March 8, 2006 and then managing funds for different people beneath a LPOA from March 9, 2006 until present moment.

I Average PLUS 20% return a month per month I trade.

Why can I go 693 FX trades in a row with no loss? Why is it that I average 20 percent a month constantly?

I exchanged a Demo account through PFG in Chicago they set up for me with an amount of $5,000,000 US dollars.

I exchanged it for exactly 56 times or 8 months and did 1804 FX trades.

I had 4 losses in 1804 FX trades.

I increased the Demo account to PLUS $7,500,000 US dollars.

Do you prefer me to send you the registered PDF file of these 1804 FX trades? So just how much of this is in grownup cash?

I never did demo trading. Can it be like playing with monopoly and presuming you are Donald Trump, just without the bad combover hairdo. :

Another response why there is such a higher failure rate in gambling is the way gulliable people are and just how gulliable some believe others are.

[jmgomgwz]

So how much of this can be in grownup cash?

I never did demo trading. Is it like playing monopoly and presuming you are Donald Trump, only with no bad combover hairdo. :

Another response why there is such a high failure rate in trading is how gulliable men and women are and just how gulliable some believe others are. I post with regard for you. Now to show me respect send me a email and I'll send you the evidence.

Then there will be no uncertainty or problems related to being gulliable.

I await you email.

Have a great Sunday

Bruce

[jmgomgwz]

I post with respect for you. Now to show me honor send me a email and I will send you the proof.

Then there'll be no uncertainty or issues related to being gulliable.

I await you email.

Have a good Sunday

Bruce The below remarks relate to REAL FX trades, not demo ones.

I just post here to be useful. Additionally, it helps me to relax by sharing my knowledge.

As for my credentials it's so straightforward. Only send me an email to and I can send you the PDF file of my 1502 REAL FX trades between October 2, 2007 and November 6, 2007 where I managed $99,980 US Dollars to get a client from Hong Kong and I made him $19,246.02 in actual profits. My 693 FX trades were all wins.

How much more direct can that be?

Now for this question! What do you need answered?

I am awaiting this question.

Thank You...

Sincerely

Bruce
https://www.nigeriaforextrading.com/attachments/1519462328893176460.png

[Lukjahoxn]

https://www.nigeriaforextrading.com/attachments/1519462321.png

[minilu]

hahaha... 99.999999999999%! There's 1 guy living in a shack in Montana that has got it figured out, that's it.

IMO the reason(s) are different for everybody, be it system or plogy or cash management.

But I'll take that PDF of your transactions, always good to learn other ppl's systems.

[jmgomgwz]

hahaha... 99.999999999999%! There is 1 guy living in a shack in Montana that's got it all figured out, that is it.

IMO the reason(s) are different for everybody, be it system or plogy or cash management.

But I'll take that PDF of your transactions, always best to find out other ppl's systems. Thank You

Just send me a email to and I will email it to you as soon as I receive your email. Mention your name that you use on forum.

Have a GREAT Sunday.

Best regards

Bruce

[lismus]

Hey

I do agree DEMO is the thing to do for a newbie....

Im a newbie and im only stng to comprehend the complexities. In the beginning everything seemed easy and it got very confusing..but you need to try to work out things slowly and take time understanding the charts. The more you look at them the more you understand. It simply takes a lot of patience and discipline.

Check out the thread by PeterFM. It really helped me a lot.

[jmgomgwz]

I just finished reading this thread. There is good information here.

Have a Fantastic Trading Day!!!


Bruce

[pablolmga]

I just finished reading this thread. There's much good information here which would be helpful to read.
.... In my humble opinion, you will find two eye-ching posts in this thread:

#15 by Mr Roboto
#27 by Italian Sharp

There are two reasons they stand out to me personally. They say what ought to be wholly self-evident. Second, they mirror the outcomes of my research and trading expertise.

David

[Mubencamizq]

I believe its greed and fear.

U must convert fear into confidence, that isn't hard to do. But the hardest is the way to resolve greed.

Greed is the one that makes you tweaked a'dependable' 10 pips system into a 100 pips system and then to a 1000pips system.

Only my 2 cents

[gani.gcl2]

I believe its fear and greed.

U need to convert fear into confidence, that isn't hard to do. But the hardest is the way to resolve greed.

Greed is the one that makes you more tweaked a'dependable' 10 pips system into a 100 pips system then to a 1000pips system.

Only my 2 pennies Discipline solves all of trading difficulties, IMHO.

[gani.gcl2]

In my very humble opinion, there are two eye-ching posts in this thread:

#15 by Mr Roboto
#27 by Italian Sharp

There are two reasons they stand out for me. They state what should be completely self-evident. Secondly, they mirror the outcomes of my research and trading experience.

David
#27 nails it, IMHO.

[PabloLmilpkn]

Deficiency of discipline

[Kikomxx]

Unrealistic objectives, bad understanding of leverage (or risk generally ) and absolute ignorance of macroeconomics.

[Kikomxx]

Forex is gambling. It's only a matter of time before a massive losing streak comes.... That's why so many people lose.

Don't you agree with me, Seeking_Light? Ha good thing... the negative expected return doesn't help your chances.

[lxeoxfigw]

We have had over 20 traders go through our doors at a year with two staying. No matter what we teach them I find it is what's in their mind which either helps them succeed or fail.

The ones that succeed ultimately work throughout the unforeseen mental blocks. Those are normally the people who really desire it and have the desire, discipline, and motivation to get over whatever obstacle they need to.

The ones looking to drive a Porsches and live in large houses and get wealthy never make it. Obtaining the wealth include hard work whatever it can be. I think technical trading is rather straightforward and nearly anyone can understand it. It is what's rattling around in the mind and emotion that gets in their way.

So basically everything people have pointed out. I only think you want to find the passion for trading, whatever passion is centered on, and build on it.

On some of the crap I see from the forums I will practically peg exactly where that trader is at emotionally. It is either the broker's fault or the broker is ripping them off or.... The list goes on. I think knowledge patience and desire will help anyone be a great trader.

If you're struggling think about this little saying:

many people stop when they're on the 1 yard line. They run 99 yards and say look how much I needed to run. I am tired, tired. This isn't worthwhile. If they'd have only gone that little bit extra they'd have the touchdown.

My two pips! Happy trading!

[gani.gcl2]

most people quit if they're on the 1 yard line. They operate 99 yards and say look how much I had to operate. I'm tired, tired. This is not worthwhile. If they would have gone that little bit extra they would possess the touchdown. It ain't over till the Fat Lady sings.

[voypomlabaco]

Discipline solves all of trading problems, IMHO. With all due respect, discipline alone doesn't solve all trading problems. You need an edge and 10,000 hours. Individuals who cannot accept criticism (for example ) will not last long, since plogically they think their approaches are almost always right and cannot accept losses. IMHO, you first need to repair your ego.

[Pkho.]

Not being prepared to learn rather than persevering following their first loss' shock trade.

[Siloeches]

Almost all potential traders fail because they do not do a couple of things:

1. Respect risk and control their lot sizing.

2. Decide on a system and time which they have fully practiced and understand.

3. Time in their system then they do trading it.

[lxeoxfigw]

Nearly all potential traders fail because they don't do a few things:

1. Respect risk and control their lot sizing.

2. Pick a system and time which they have practiced and comprehend.

3. Time on their system then they do really trading it. Well put

[spaagoo]

Almost all possible traders fail because they do not do a couple of things:

1. Respect risk and restrain their lot sizing.

2. Pick a system and time which they have practiced and comprehend.

3. Practice more time in their system then they do trading it. After studying and using demo for 4 decades, you're bang on correct my guy! Bang on! .
Connected to the risk control you should be aware of, from practice, as you say,how many losing trades you may have in a row. I would double this, and make certain that if this happened, I would have money in my account to carry on trading with. Folks think that it's not working so they try another version or give up and have a losing series. You need to be 100 percent sure, that more than a number of transactions, you've got the edge. Sure you will receive drawdowns, but you need to ride them out, using risk control, in the safe knowledge, which after hundreds, or perhaps thousands of transactions, you'll be in the money. That's one of the numerous challenging things about trading Currency Market.

[amoyaigageoya]

Very interesting thread indeed, not sure my post will probably even make me a portion of the 99%....

I believe post#27 just about sum it up.

Nevertheless knowing the problems and having the solutions to solve the problems is completely two distinct things... All of us knows the problems especially those 20/20 trading Gooroos and Analyst and the whatnots... thats the easy part. Along with the evasive solutions is 99.999% wrong or too difficult even to think about it.

I will leave you to think whether I myself have already have a EDGY alternatives or just one of those 99% who only knows the problems.

Good Luck in whatever you're trying to do....Cheers

[benegicpk66]

I guess it has something to do with subject, greed, feelings.
The Forex-market was initially highly suspicious to me personally, because I could not imagine that you can make money by moving about virtual piles of money within an inherent market. So I did some research, read anything within the school-section of babypips.com and a number of different websites.
Outstanding to me personally was the fact that any individual's comments I read told me to first practice for months before actually trading. Suspicions faded gradually...

I started a demo-account and sat in front of the screen watching. The demo-account had exactly the identical amount of money I had been ready to finally risk in my live-account. A wonderful challenge if the experience become to me personally.

I didn't blow the demo-account, rather I managed to gain money with it by carefully choosing trades, after a very basic but easy trading-plan. However, I discovered that - for me personally - demo-trading wasn't satisfactory in any way. Probably because I had been successful with it? And I drifted my strategy straight in front of me and everything went when I had 3 declines in a row, but after some time I deviated from my although I don't understand.

When in live-mode, I immediately stop doing anything once the market movements become too quickly to get a newbie. While I do not understand what to expect based on my (still little) knowledge - I quit and investigate what's happening right now.

So self control, risk- and money-management ought to be the vital facets of not neglecting too quickly. A lot of expertise and knowledge is needed to become succesful, how this is defined on your own.

[oxmayazcamme]

Cause 99% of traders are idiots. .
They cover for mentors, and other idiotic things. . Trading requires maturity and independence. Theres nobody to blame but themselves. .
Im 18 and I trade for a fantastic living. There shouldn't be any excuse something you cant can be accomplished by a teenager. . . .

[xqno]

trigger 99% of traders are idiots. .
They pay for mentors, along with other dumb things. . Trading demands independence and maturity. Theres nobody to blame but themselves. .
Im 18 and I trade for a good living. There should be no excuse what you cant can be accomplished by a teenager. . . . An 18 year old that understands everything.

[oxmayazcamme]

An 18 year old who understands everything. An 18 year old who transactions very successfully, and obviously doesnt care what you or any one thinks
your probaly enjoy 30 years old and have a full time job and among the 99%

[Gmeavus]

In order to be a successful FX trader you want to deal with your fears and the greed factor. Ego also has with an wonderful part.

I am a well rounded experienced businessman who has had lots of life experiences. I recall how difficult it had been to take my first reduction.

My first live trade was completed on March 9, 2006 and that I never had one loss in my first 80 FX trades.

Throughout June 2006I transferred my currency business over to Man Financial Canada and it had been in June 2006 that I had my first reduction.

Even though the reduction was just $100 it had been the... Can you start this thread to teach people how to become a successful FX trader?

[sofaymzo]

I can not imagine it is 99 percent...I believe a individual needs about 3 years of study and will run across a lot of dead ends prior to wow. I know why something or the market did this. Is quiting the same as failure. Than that number is most likely true...... I've been in it since 2005,,, for the most part down and up. I am not quitting my pursuit and appreciating it more and more as I spend more time. I have so frankly, I don't care whether I create it or not. If it takes a decade and I develop that ea, its something I will pass on to my kid. In fact, trading is only currently pushing on a button either to buy or sell. Mentally its hard to find a persons head round the fact that a chart can defeat you.

[angelcapa]

I can't imagine it's 99 percent...I think a person needs about 3 years old and will run across a lot of dead ends before wow. I know why something or the market did this. Also, is quiting exactly the same. Than that number is probably true...... I have been at it since 2005,,, for the most part down and up. I am not quitting my quest and enjoying it more and more as I spend more time. I have a day job so frankly, I do not care whether I create it or not. If it takes a decade and that I develop the ideal ea, its something... 99 percent is nonsense.
According to Oanda compulsory disclosures, anywhere from 30-35% every quarter is profitable
Shamu

[silvikis]

99% is crap.
Based on Oanda compulsory disclosures, anywhere from 30-35% every quarter is profitable
Shamu That is any given quarter, and the data set is not static (new accounts are added, old accounts get discounted, etc).

Extrapolating a static sample set of FX traders within a longer period of time will show a slow succumbing to the 90% failure rate.

[Guben17]

I don't think it's 99%. However, I would concur it would be a large percentage of FOREX traders may not experience the success they need; however, trading is a long, mostly dull, even boring procedure that involves staring at a display, amounts, and also a lot of analyzation. Not exactly what a lot of individuals call captivating.

[llmsegovay]

Hi friends,
I have been thinking about this for quite a while, yet cannot find THE reply to this question, why does 99% of the men and women who wants to become traders fail? What's that 1 percent of people that has it or has figured out it, which we cannot figure it.

After dismissing off a few accouts, I've been in quest to obtain the solution. I've read book after books yet not one of them tells you what it really is? Then if they understand, they might keep it a secrete. After all, we're speaking about taking somebody else's... Wow the winners got downgraded from 95 percent to 99%. It's a myth. Lordy Be I must be a genius. Do you truly believe winners wish to talk about their abilities and have 99% of clueless individuals screw up it? We need you guys to keep up the fantastic job and blow wads of bread. Thank you. No winners must be listening to the music. I see that they have a ribbon for it. Taps although listen to whatever.

[belho125]

The secret of success trader is
to tag it with another company,
99% utilize metatrader/ equally to'pair' their currency while those 1 percent'pair' their currency with company.

No, this can be a lie, don't trust me

[abwloooml]

stage1
1. Believing its simple
2. A demand for a quick fix the glamour of this scalper
3. Selfpicture of what you can and don't can perform
4. High hopes for fast returns quickly (there are quite nice and quick returns but the will come to you, you can not push the market it will not give a fk around you)
4. False beliefs
5. Trading in a way can view profit short term but is doomed from start term.
6. Timing getting in to late not to miss that good fall that often turns bad
7. Preemptive execution. Going before my sign to get in early.

List will go on and on ive traded for two (3 counting all of the rading) years today. Fisrt months steady draw downs a few trades that was workable to ofset any losses. (suggestion read about reduction averion).
After a year I had been pretty much BE wiht some greens monts although not much.

Mindset changes I had to choose to go from BE trading forever to push myseld into profit was after the facts simple.

Stage2
Trading is simple and counter nr1 up there but once you come this far you still locking up potential thinking its hard.
But it isn't, It's simple and I dont care to much If I dont in an entry now so maybe im cheking in tnight again searching for some installation or ill just do taht tomorrow.
Make a egy for the week it helps alot write and mark on you charts now what you will do there. Example on I se a nice trendline retracing in pair that have a primary trend direction. I indicate the trandline wiht a mark so I dont see every little leap under tradline.
I really do this one every pair then I just sit on my hands operate along with other things test them in the morning and evening. S begin to watch closer, when I see atrade comming close. After breakout I zoom on reduced timeframes searching for a retrace, greatest is breakout subsequently reverted to breakout then I enter. When I had been unprofitable I would toss my commerce on when only the bar come over my sharp TL. Lets others loose cash decidig if its a break or not when it clearly is transfer in.I move lower frames and take scalp like entrance. After a few minutes place SL to BE and go have Chillax, a coffe.
Assess you trade out afterwards in the day and you got SL @BE out or you will have some good pip gain, Now just let it ride With the significant TREND and overlook it. NOW your cash will be working for you! Not you for cash. Redo every week add place. TP NEVER!! Nicely tp if you need to refill some cash and put in to equity and if Maintrend starts to demonstrate its invalid
Wipe replicate

If you seeking a kick visit vegas or any oline poker siter will probalby be mor fun method of ridding you mony

[Egumiba]

I believe that could be carried out by split these rules:

1) using high leverage
two ) plan to be wealthy too fast
3) bad principles
4) bad money management
5) not enought time to exchange
6) following bad signals
7) attempting to reunite their lost money
8) considering cash, not pips
9) too much trades big fees

Its my view, from starting I done these errors...

[gjgokso]

To back up among those points others are making... Trading necessitates work. My personal experience:

I tried some demo trading a couple of years back... good thing I saw that the J 16 thread etc....
I attempted to trade with no real plan... (did not put in the time learning) - with predictable results!

I'm having another go at it... This time I'm putting in at least 1hr per day of REAL work. Looking over the company plan, reading books, staring in the charts (just because) and practicing with s' EA (allows you to practice with historic data...)

In that practice trading I'm doing fine but I will see where price action etc. will definitely improve the results vs. purely mechanical methods... but studying PA requires a quantity of work - in the system and plogy.

The gap? WORK! I put in additional hours at a deliberate effort to improve. . Which are currently yielding results. . In a couple of weeks. .

What's ahead of me? MORE work... to the rest of my trading career. Trading isn't that hard, but you have to always be learning HOW to exchange... and that takes time and effort (in my estimation )

I feel a number of people don't want to put in the moment, so they look for the magical EA, or indior that does not require thinking/work.
With predicable results.

Believing is (relatively) simple. LEARNING how to think on the other hand...

Working is essential but not enough for success in trading... no job = no achievement....

(Take this with a grain of salt... I an a noob... and have not successfully traded live yet!)

[locomepkpa]

I started trading FX through September 2003. I traded using $50,000 accounts. I made my first FX trades during March 2006. My initial 75 FX trades were wins. In my first 3 months of trading I dropped a $25,000 US Dollars account to $50,000. I've managed as much as $250,000 US Dollars at a time. Over 80% of my FX trades are winning ones. I've had margin calls, I've had EGO problems because of my PLUS 25 percent on managed capital each month in my FX trading livelihood and at times I risked too much funds.

I consider myself predicated... I agree with you... I started to play with FX last two years, and I got mad that I was lost all of my cash. But at the mean timeI built my physiology. I'm starting to understand what is risk management, what is effect. I'm learning FX with the account, so I could lessen the missing, but I have to learn all of the analysis and the fundamental, the currency advancement.
If somebody talks about laziness, certainly I agree.
Whenever you don't have openness to understand something, you will do not get anything. I just lost some cash in FX on friday since I was to lazy to make the analysis and read the fundamental. In fact, I knew that the GBP/USD would be moving up, but I open 4 lot sell position. I think the outcome is known by you.
Eventually I needed to cut it differently I'll lost everything for the 2nd time. And the following game, I don't be egoistic and must be careful.

Soo... you have to learn of each step that you take...

be success...

[mooxn]

What's driven by fundamentals. I'm just profitable risking small portion of my account, manually cutting losses (the toughest ) and trading longer duration...

[cheki8]

Everything is driven by fundamentals. I am only profitable risking little portion of my account, manually cutting reductions (the toughest ) and trading longer term...
this is yur mistake..fundamentals take the time to show in charts..its long term

u are worried with brief term..technicals lead u to the fundamentals..its a leading indior

[mooxn]

this is yur mistake..fundamentals take the time to show in charts..its long-term

u are concerned with short term..technicals lead u to the fundamentals..its a top indior Ok, it is dependent upon the chosen trading egy. Warren Buffet dropped 7 years attempting to make some money with technical analysis...

I didn't make myself clear in the prior post. I am not talking about the current (now ) fundamentals, but also futire fundamentals that could be predicted. Currencies are proceed by economic conditions, not by lines on a chart...

[nanamg]

Ok, it is dependent upon the trading egy. Warren Buffet lost 7 years attempting to earn some money with technical analysis...

I did not make myself clear in the previous post. I am not discussing the current (at this moment) fundamentals, but also futire fundamentals that could be predicted. Currencies are move by economic conditions, not by lines on a chart... As an Economist and a FX Trader I agree with you. Future Fundamental Expectations are leading indiors of the X/Y currency. Lines/technical are just representations of their consumer preferences. So you must use fundamentals and technicals to validate rankings. If you trade on the run, That's.

As keynes said I simply. . .Anticipating what average opinion expects the average opinion to be.

In case you did not know Keynes was a great value investor just like Warren B.

[Egumiba]

I really don't think, that 99 percent of traders loose their cash check numbers from USA regulated brokers. . Approximately 20 - 30% traders earn money each quartal, its authentic, that it doesn't indicate that next quartal will loose their money again...

[Nalhalie23]

Hi I'm a newbie trader and also have a desire. Right now I'm just getting my hands dirty and am realizing just how much there is that I really don't know as I learn in a logarithmic rate.

The thing that sets aside my endeavor from others I have attempted to bring to fruition is a dogged determination to succeed and also an avid interest in learning anything and everything to bring that about.

I really feel I have a natural urge to trading and instinctually see the discipline needed to exchange the market. . .exciting stuff to be involved in. I really feel like this is what I have been awaiting.

Hope all goes well for those who are also looking to triumph, but remember to play the long game and enjoy the landmarks of your attempts!

Glad to meet you all.

[LopeGamcay22]

Hello I'm a newbie trader and have a fantastic desire to succeed in trading. Right now I'm just getting my hands dirty and'm realizing how much there is I really don't know as I understand in a logarithmic rate.

The thing that sets aside my project from others I have attempted to bring to fruition is a dogged determination to succeed and also an avid interest in studying everything and anything to make that about.

I feel I have a natural instinct to trading and instinctually see the discipline needed to exchange the market. . .exciting things to be included... Great soul, and devotion to the small business! But this isn't enough. Saying something is something, something that is BEING is another. Trust me, you'll only learn the biggest lessons in forex through losses, not wins, and intelligence and subject is essential. If you are free Have a look at my trading journal, and find out exactly what I experienced.

Keep up your optimism, work hard, learn hard, use a pure business conviction of emotional intelligence, and you're going to be fine. SHORT TERM: NO. Long term: yes.

[LopeGamcay22]

this is yur mistake..fundamentals take time to show in charts..its long-term

u are concerned with short term..technicals lead u to the fundamentals..its a leading indior Good on you mate!

[angmeeamokzo]

As an Economist and a FX Trader I agree with you. Future Fundamental Expectations are top indiors of this X/Y currency. Lines/technical are only representations of the consumer tastes. So you must use fundamentals and technicals to confirm positions. If you exchange on the term That's.

As keynes said I just. . .Anticipating what average opinion expects the average opinion to be.

If you did not know Keynes was a great value investor like Warren B. I couldn't say better. I'm developing a system that anticipates 8 currency pairs ( EURUSD GBPUSD AUDUSD USDCHF USDCAD USDJPY EURJPY EURGBP )

[Cammmask]

Can I ask does anyone know if the BIG GUYS such as the banks and authorities use automatic systems or manual? I feel that any system that is manual could be produced autonomic right? I've never seen or heard of any automatic system that is employed in the long term. I feel as most of us have tried every system and also end up nowhere I had the most success with systems one for flat and ranging markets one. However, I get hit when the market changes from one

[angmeeamokzo]

Can I ask does anybody know if the huge GUYS like the banks and authorities use automatic systems or all manual? I feel that any manual system could be produced autonomic right? I have never seen or heard of any automatic system that is employed in the long term. I feel like most of us have tried every system and also wind up nowhere I have recently had the most success using different approaches one for markets one. However, I get hit when the market varies from one to the... I do not know. If believe there's a way of doing it automatically. I'm trying right now to predict the currencies automatically. If you prefer you may check my site.

[Zomiok]

Hi all,
I have been spending many an hour FF for the past few months just reading different threads - reading and reading... and reading... a number of those threads extend past a year you know!!! I gather that stategies have their stengths and weaknesses, but the most important thing is that if you're winning, increase your triumph. What I mean is that many sucussful traders with high levels of vouchers, know that given the complexity of the market, all of the fundamentals and technical analysis can not pre-determine a correct commerce, but by managing risk/loss/money this environment may be employed to generate an income. Warren Buffet is mentioned in a couple of the last posts - I have been listening to his adventures lately - and I gather he too lost ocaisionally - however he managed to develop into intutive within his analysis of the market; the market spoke to him. Most of the traders on this forum explain the market sentiment as though they are describing a connection - they know what the market wants to do. It wants to be bearish, it wants to become bullish. Why? Since, after of the indiors and analysis when it seems over priced, or their is a powerful push the market will respond! You have to be at the market to be able to capitalise on this movement!

[Colllseo]

Where can download your machine?

I could not say better. I am developing a system that expects 8 currency pairs ( EURUSD GBPUSD AUDUSD USDCHF USDCAD USDJPY EURJPY EURGBP )

[Jomge17calipo]

Want to buy your Ferrari?

[nanamg]

Hi all,
I've been spending an hour FF for the last few months reading different threads - reading and reading... and reading... a number of these threads extend past a year you know!!! I gather that stategies possess their stengths and weaknesses, but the most important thing is that if you are winning, increase your win; however when you are losing out. What I mean is that many sucussful traders with high levels of coupons, know that given the complexity of the market, all the fundamentals and technical analysis can not pre-determine... Nice insight! I truly think being in the market is similar to being in a connection l! You spend lot of time with it (charts) you get sad when market reaches our rankings. . .etc.... You just need to be aware of the way to take care of it and become a fantastic partner... hahah

[fjkhack]

Little % off the people are currently wining in this business for one reason,,TALENT,,,, you can have the system available in your hand and never became a trader with. .some individuals doing well with automatic trading and other with Advance technical analysis,,you have to find what is best for you personally



Hello friends,
I have been considering this for a long time, yet cannot find THE reply to the question, why does 99% of the men and women who wants to be traders fail? What's that 1% of individuals that has it or has figured out it, which we cannot figure it.

After blowing off a few accouts, I have been in quest to find the solution. I have read book after books blogs after logs, however none of them tells you what it really is? Then again should they know, they might keep it a secrete. After all, we are talking about taking somebody else's...

[nanamg]

little % off the people are wining in the industry for one reason only,,,TALENT,,,, you can have the best system available in your hand rather than became a fantastic trader with. .some individuals doing nicely with automatic trading and other with Advance technical analysis,,you have to obtain what's best for you personally More than ability is understanding and removing all of the human weakness. (Sentiments, Greed, Stress ). Its funny but I remember Terminator 3 Desire is immaterial. I'm a machine.

[LopeGamcay22]

More than talent is comprehension and eliminating all of the individual weakness. (Sentiments, Greed, Stress ). Its funny but I remember Terminator 3 Desire is irrelevant. I'm a machine. I will terminate you

lol being person is an advantage and a flaw.
After all we create robots and ea's and whats not to be generated by us is by nature, or God. The flaw, we aint flawless errors are made by us. But we have that potential intelligence and wisdom to solve them, repair them and be different. So I believe im fulfilled having been generated human not as an AI robot crap.

[nanamg]

I'll terminate you
'
lol being human is an advantage along with a flaw.
After we all create robots and ea's and whats not to be created by us is by nature, or God. The flaw, we aint flawless we make mistakes. But we have that possible intelligence and intellect to resolve them, repair them ,and be different. So I think im satisfied having been generated human not as an AI robot crap.
Im just saying if you think like a human on FX you get caught in secs! Buma are u guy or girl I actually dont get it (No offense). . U are right!

[giegoacgh]

Emotions.