90-95% lose money in forex market?

[wasp]

ignorance. knowledge, skill, understanding, experience = success. Like anything, the more you know, the easier and better you perform.

 

[taha22]

I do not believe anyone can make money from forex before losing even if he/she is EDUCATED. 'cause experience cannot gain by educating and you need to have exp. to have your own strategy.

 

[frontier2002]

I trade forex for a hedge fund.

I believe 95% of forex traders lose money because they dont have a system. Hedge funds usually spend a lot of time doing testing and research, the traders are just there to execute the system.

Retail traders dont have the technology or effort or know-how to create systems.

If you are interested in my trades, go to my homepage.

i have a system but still no successful enough. Why? well i have come to know that most of the time the market will usually goes for overbought or oversold which defies the boundary line of any technical analysis. At this point i will get nervous and close the position quickly which in the end losing money.

Secondly there is no one can tell when the market will move or do some funny breakout. The market can be calm and suddenly shoot up or down base on non-farm payroll data.

So my point is whatever system you got it is simply not good enough as i have

 

[rathcoole_exile]

whatever system you got it is simply not good enough as i have

ar sole

 

[TheRumpledOne]

They lose because they haven't learned to SEE.

They have been fooled into thinking they need indicators.

Try driving your car by only looking at the dashboard. YOU'LL WRECK THE CAR AND PERHAPS KILL YOURSELF OR SOMEONE ELSE FOR SURE! That's what happens when you load up the chart with so many indicators you can't even see the price.

I agree, ANYTHING CAN HAPPEN! And that is PRECISELY why you need to SEE what is happening and trade accordingly. Instead of trying to figure out what will happen next, learn to identify what is happening NOW!

 

[frontier2002]

They lose because they haven't learned to SEE.

They have been fooled into thinking they need indicators.

Try driving your car by only looking at the dashboard. YOU'LL WRECK THE CAR AND PERHAPS KILL YOURSELF OR SOMEONE ELSE FOR SURE! That's what happens when you load up the chart with so many indicators you can't even see the price.

I agree, ANYTHING CAN HAPPEN! And that is PRECISELY why you need to SEE what is happening and trade accordingly. Instead of trying to figure out what will happen next, learn to identify what is happening NOW!

You don't have to compare trading with cars. Look at your own account how many losses you have made and think how to fix it up. Why have to figure out cars what's got to do with cars. Forex trading is totally different from cars

 

[marketwizard123]

It is costly to get it wrong, far better to watch and learn, paper trade and consistently make a profit first although nothing will ever quite be the same as playing with real money!

 

[niceguy777]

Quite right Marketwizard. the problem is transferring from being wonderful at paper trading to being nervouse at live trading.

I think the general gist of this thread shows that there is much more to being right in your mindset than simply learning techniques and strategies. It is best if you can keep both as simple as possible, but not to avoid or try to kid yourself over the mindset part. The key to that is to find a way to get behind your conscious mind to find out what is driving your behaviour. If you cna't do that, it will drive to to boom and bust cycles that are difficult to escape from.

 

[rtsurvivor]

Hi all. this is an interesting thread. To me there is one cardinal rule. Plan Your Trade. Trade Your Plan.

Sounds simple enough. But when your money hits the table your reasonable world does a super fast flip-flop. I was a commodity trader for around 25 or so years. The first few years I spent scratching my head and wondering where all my trading money was going.

I'd read all the books, did all the paper trading and knew that I was ready to hit the big times. Play Money and Real Money have only one thing in common; the last name. When you put an actual dollar on the table your psych will take over and you will sweat bullets as a trade takes off.

When the "Ticks" go in your favor your our heart pounds faster and you mentally start adding up you winnings. However, sometimes the "Ticks" will go against you. When that happens your breath catches, your head starts hurting, and you reach for the "Close The Trade" switch.

This actually means only one thing. You Are Not Ready To Trade Real Money! You do not have the required discipline nor did you plan your trade. This actually happens. Been there. Done it.

If you have not developed your discipline for trading then you will surly lose. That is the only real absolute in trading; commodities or FOREX.

And, one of the major problems with trading the FOREX is that you can open an account for a couple of hundred dollars. That is a sure path to disaster.

So, good trading and to all a Happy New Year.

RT...:clover:

 

[stevenzed]

Traders discipline

Hi,

I have been a stock trader for about 6 years on and off. Switched to Forex 2 years ago. I pretty much tried all techniques, but mostly short term strategies otherwise I get bored.
My experience so far:
Using 1,2,5 minutes charts and small stop losses, like 10-30 pips is the sure way of losing your money.
Using longer view, like 1-4 hours charts would be more profitable, but who has time sitting at the front of the screen 24x6. Trading on daily chart is just too boring.

I recently switched to automatic traders, because they can trade on the 1 or 4 hours chart (which I believe the once that are trending nicely and you don't get stopped out too quickly) Just search the net there are a few of them around. The one I am testing atm and have high hopes for is forex-ai but you make up your own mind.

Steven

 

[grikoss]

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

try this:
https://www2.saxowebtrader.com/sim

 

[Trader Rich]

It's true most day trader lost money in the market. There are two causes for their capital loss. 1. Lack of a complete set of day trading rules to guide them. 2. Lack of discipline to follow their rules.

 

[niceguy777]

You know, if you've been around trading for a while, you have heard all these suggestions at least five times! The problem is, those who ask for advice and those who give it on forums are rarely tackling the problems effectively, and that's why we all go round in circles. I bet if you looked back at posts from three years ago, the technology may have changed a bit, but you'd see the same questions and answers!

So, where is everyone going?

The fact is that success in trading is a mixture of technique and mindset that is hard to find because we all need to deal with our own 'stuff', and we are wasting our time if we think that somoeone else has got the answer to that. We have to do some actual work on ourselves before any 'brilliant' technique will work. that's why, despite all the hype and seemingly wonderful solutions that people come up with continuously, most traders still don't make it.

The fundamentals of trading are simple. So having a simple but effective technique is best, so you don't mess up trades because of complexity. But first, you have to address your mindset. That can be slippery stuff, because you may have to challenge your deeply held beliefs - so a lot of people don't go there. If you need to believe something else that what you already believe, and you believe that what you think you know is true, even if it doesn't work, you'll find it difficult to change that.

The other thing is that the movements of currencies isn't as random as it appears. There is a framework holding it all together. Trouble is, the collective belief is that you apply all sorts of stuff - indicators, constructions, calculations, back-testing etc. - onto your charts. You don't. they only cause confusion, and in doing that, you are working with the wrong tools. Very difficult!

 

[everyonerich]

this is what everyone been looking for

http://www.trade2win.com/boards/trading-faq/57420-million-dollar-question.html

 

[billyhk]

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.

Believe in your ability!

 

[Vaco]

Hi,

I pretty much tried all techniques, but mostly short term strategies otherwise I get bored.
My experience so far:

Using longer view, like 1-4 hours charts would be more profitable, but who has time sitting at the front of the screen 24x6. Trading on daily chart is just too boring.

Steven

If you want to know why so many lose money and how to avoid been one of them read the above and figure it out.

 

[rathcoole_exile]

If that is the case then is it really worth doing it?

to save you all that horrible hard work, a few of us with experience and successful to a certain degree could just give you our hard-earned methods, 'secrets" and edges.
would that help ?

 

[niceguy777]

Why do people bother putting in posts like the above two or three? I find these forums full of unhelpful, boring and tedious posts that really just clog up the system and confuse everyone. What do others think? Trading is difficult enough as it is, so my feeling is that it's better to try to be helpful than to just spout stuff that isn't going to take anyone anywhere. Or are people just wasting time between trades here!?

I would love to hear some constructive comments on the subject of posting on forums.

 

[rathcoole_exile]

once you posted slightly more than 46 posts here you too will begin to tire of and get fed up with constant whinging, sponging and begging of people who are too lazy to help themselves.

it's one thing being prepared to help those who are keen and prepared to put in some graft, but most traders will not try to help those people who are patently just after shortcuts

 

[rathcoole_exile]

Trading is difficult enough as it is,

no it's not. it's a piece of cake.
difficult ? what's difficult ? you flip a coin, place a trade and manage it according to a pre-defined plan.
If your risk parameters are correct, worst case you'll come out roughly even.

Trying to refine and improve it by giving a chart to a 5-year-old may improve your results. They have a secret capability that only children possess, like seeing ghosts, to spot what they call, in their secret language, a "trend".