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Thread: 95% failure rate?

  1. #11
    Why should trading be any different than any other organization?
    Have a look at the statistics on new business start ups, the failure rate for new businesses in the first year are approximately 70%, the 5 year failure rate is roughly 90%.

    In trading we're more likely to discount because of the emotions involved and the speed at which a transaction can move against youpersonally, coupled with bad money management, inconsistent trading, jumping from system to system, greed, fear, and the list just gets bigger and bigger as to why folks fail in this.

  2. #12
    50% of individuals are of below average intelligence. If you're stupid you can't anticipate to be successful.

    The majority of individuals are impatient. Impatient people do not give it the energy or time to develop the skills to be successful.

    A large proportion of individuals are greedy. Greedy people place too much on transactions, jump in too early trading reside, dick all their money and fail. No sympathy there.

    Some individuals have not got the emotional make up and can't deal with the strain and anxiety, or the insecurity of having a steady wages they can rely upon.

    Is it any wonder that many fall out and fail? I don't think excellent traders are born this way, but some people just haven't got a clue and they never will do. Unfortunately everyone thinks they are the centre of the universe and the principles do not apply to them, that is the character of the human state. Only the idiots can save , but it's dependent upon the cost of their pride regarding how much they are prepared to forfeit before they either change or admit they are not suited for it. For the majority, this pursuit will lead to nothing but misery, perhaps with some important life lessons thrown in along the way.

  3. #13
    Wow thanks guys, I think anybody starting out who comes across this 95% percentage item ought to pay a visit to the thread because there are a few priceless article here.

    Its like I thought the 95% ratio can be licensed to failures in most realms of life, and its not a research done by means of a panel related to the Foreign Exchange world..LOL

    However would you egorize traders who have spent years studying, taking trades, breaking their asses, reading forums, publiions etc.. .and still neglecting?

    Thanks

  4. #14
    Quote Originally Posted by ;
    50% of individuals are of below average intelligence. If you're dumb you can't expect to succeed.

    .
    Birdt,

    why you generalise that 50% is below average intelligence? I think nobody is born dumb. Just some idle to believe or came out of very specific environment or whatever reasons. Or maybe not realise.

    Within my speech, there's a saying the rear of a parang if gloss it can be sharpen.



    P/s: parang is something like knife (not the sharpen both side). .big one, the rear isn't sharpen..ahh I have difficulty to explain. You know I hope.

    I like your words To the majority, this exploration will result in nothing but misery, perhaps with a few important life lessons thrown in along the way. . .beautiful words. I could borrow it to say something intelligent to my children or niece or nephews hehe

  5. #15
    Quote Originally Posted by ;
    But how would you egorize traders who have spent years analyzing, taking transactions, breaking their asses, reading forums, publiions etc.. .and still failing?
    Thanks
    They're masochists.... The market gives to everybody what they require.

  6. #16
    Quote Originally Posted by ;
    But would you egorize traders that have spent years studying, taking trades, busting their asses, reading forums, books etc.. .and still failing?
    Thanks
    You can say this about any profession there is. I've met countless numbers of useless doctors, salesmen, chefs etc etc who've completed exactly the same profession year out year in without reaching any way and without showing any significant amount of livelihood intelligence despite many years practice.

    How would you egorize these? Example from a real-world scenario;

    My back went directly to hell 4 decades back and I couldn't even move. So I went to the doctor really concerned that it may be something serious. No no, this is just a little stretch in the back, take this (blue and yellow purple) pills and go to work tomorrow he said.

    I refused to accept he is term of the specified situation and moved to a specialist in this field instead. The specialist took of he's glasses and stated this was the worst rear he had seen in he is 35 decades long career, providing me medical certifie to stay home for 1 month at a rush, and made my back almost like new during this time.

    A parallel can be made to any livelihood;

    that you want to put money for (a high-yield?) Return and search out the regional bank and advisor. Yes, yes, this contain small risk/high return, simply sign this newspapers and move your cash and we are going to handle this issue, no issue.

    You know how this goes, but you may exclude any happy ending.

    My point is; simply because someone have a profession, doesn't mean that he master it fully.

  7. #17
    Quote Originally Posted by ;
    Wow thanks guys, I think anybody starting out who comes across this 95% percentage item should pay a visit to the thread because there are a few priceless article here.

    Its just like that I thought that the 95% ratio can be accredited to failures in most realms of lifeand its not a research done by a panel regarding the Foreign Exchange world..LOL

    However can you egorize traders who have spent years studying, taking transactions, breaking their asses, reading forums, publiions etc.. .and still neglecting?

    Thanks
    Trying the wrong methods or abilities over and over does not yield success.

    I would say they will need to face their failures or move on to something else.

  8. #18
    Quote Originally Posted by ;
    Trying the incorrect methods or skills over and over does not yield success.

    I would say that they need to face their failures or move on to another person.
    Or just finance another account to blow out!
    Just watch The Secret, maybe this
    time it'll be different. LOL
    Never mind trying to learn anything.

  9. #19
    I could not have said any better Kudzu! I hate hearing 95%. .blah blah blah. 95% according to what? A survey of 10 traders at a room? Does that small sampling represent the entire trading people from the U.S.? From the U.K? From the entire world? Hardly believable.

    Quote Originally Posted by ;
    In 2 plus years of trading I have never discovered an actual study that confirms this 95/5 ratio. It may be like a lot of other ordinary thoughts - 95 percent of those folks repeat it since they heard 95 percent of those people repeat it.

    The 5 percent figure does not just set a number on how many triumph. The 5 percent figure also tells us that the 5 percent believe very differently than the rest. They gauge risk, reward, effort, comprehend long term vs. short term analysis and realize the crucial need for preparation differently than the rest.

    Persistence is of course key, but it isn't the only thing one wants to be successful in almost any field. I feel that too many people live under the myth which persistence is all you have to be successful.

    You can be quite persistent in attempting to be like Tiger Woods, but if you're using a baseball bat to play golf you will certainly be at the 95% who never make it on the tour. Forex traders will need to be honest with themselves if a indior or EA or system or their trader psych isn't working. Admit what does not work. Admit where you did not perform well. Study. Study. Make the necessary corrections. Stopping attempting to play golf with a bat.

    Persistence personal honesty skilfull preparation = achievement


    .

  10. #20
    Quote Originally Posted by ;
    You would be amazed how far a individual can become just by having the right mind-set.
    For sure!

    Quote Originally Posted by ;
    if you would like to be in the 5 percent which produce it, then here is the answer....
    Part of this answer. I'll go this way.

    The issue with The Secret and related books is that
    they suggest that mind-set is everything you want.

    You can be successful at Forex, or anything else, by
    positive attitude just? BS!

    Oh, there's one thing you can perform. . .write self-help books.

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