Day Trading & Forex Forum

bfd

Hi all,

I have read that in the Forex market 90-95% of investors fail and lose money, this is quite a shocking figure.

Are all these people who are losing money beginners who are not taking the kind of advice on this forum, eg sticking to a trading strategy in a dicsiplined way.

Are they just jumping straight in without using technical indicators etc? Or are they taking all the advice but losing money anyway, simply because its extremely hard to actually win at trading?

I'm a beginner and have only just opened a demo account but i intend to learn as much as i can before I trade with real money. I'm starting to wonder if I'm wasting my time though, why should I be in the 5% who make money with trading?

Thanks.

Grey1

Odds of loss in any efficient market is high but i don't think the figure of 90-95% is appropriate

If you was sent to repair a high voltage electricity system with no training and education what would be the chances of coming back ALIVE,, probably none,

People TRADE FIRST EDUCATE SECOND it should be the other way round ,,,




Grey1

UKtradergirl

Even if 99.9% of people lose money, someone has got to be in that 0.01% that gains! Why not you?

What i will say though is that you need to be very committed to doing this in order to succeed. The ability to take losses is a plus too, even if you have a 90% winning strategy (rare indeed)- you will still be losing 10% of the time. You need to be able to adapt quickly and constantly redefine how you trade in order to survive the changing conditions. What at first appears to be a 'holy grail' of trading can quickly turn into the best way to give away your cash.

You are doing the right thing by trading a demo account, keep up the good work. You should soon be able to tell if you have what it takes to continue- not just by the balance of your account but from your own reactions to your trades as you win/lose- you must be very self-critical and strive to forever better yourself and your position.

Trading is by no means guaranteed money, but with careful planning and risk management, you can keep your risk to a minimum... and the rewards are definitely worth it.

I think the longer you are in the markets, the more you realise how little you know and how much there is yet to learn. Time to take stock and decide to either go at it 100% or to just quit.

This is serious business, not a game, and should be treated as such. What you put in you will get out as in any other field (although some people choose to gamble and do get lucky too- but if i wanted to gamble i'd rather go and back a horse).

I hope you choose to take up the challenge and continue. (capital allowing- please don't get into debt to trade!).

UKTraderGirl

Trader333

In this scenario it would only be the brokers in the 0.01% making money in my view.


Paul

wasp

Don't forget FX is not solely a traders game....... commerce plays a big part and that's sod all to do with regular trading.

UKtradergirl

Don't be so defeatist... i know you could beat these odds

Thank God that this scenario is in no way realistic

A Blue Window

Anybody know of a forex demo that operates in the browser? I downloaded Forex.com's client and it keeps crashing and freezing out!

wasp

netdania