90% get it wrong?

B

bisto

0 0
yeh you might be right oatman

thanks for all the input guys - a lot of good stuff here
 

ColinRiche

Well-known member
284 3
I Still think the best comparison to trading is that of the slot machine - the humble fruit machine !

Most people lose money
Some make a profit
A few make a living

But the house always wins


Without all the small losers - there wouldn't be the big payout !!!

HTH :rolleyes:
 

bonsai

Veteren member
4,106 10
I am not sure that in this context, trading is any different to
many other occupations.
I wonder how may wannabe air pilots fail to succeed ?
or Tennis players or wannabe Golfers.
or Systems Analysts ?

It can cost you an awful lot of money trying to become a failed
professional golfer and it takes years for the penny to drop.
 

timsk

Legendary member
7,374 2,164
Oh Skim, you are a tease!
Would you care to outline the things that the 90% were / are doing that you now desist from doing or, to put a positive slant on it, the things they were / are not doing which you consiously make an effort to do?
Cheers, Tim.
 

Kael

Junior member
12 0
90% get it wrong...mmm...I think 100% get it wrong but the best only get it wrong 10% (okay maybe 25% ;-P) of the time, and when they do, they don't convince themselves they are still right.
 

Skimbleshanks

1
2,325 16
timsk - in one word: indicators.

90% use 'em, and rely on them. The trouble is that they get you into a position late, and get you out of a position late. So you only get a fraction of what is actually on offer.

You have only to look at the vast majority of charts posted on websites, not just on T2W, to see that there are lots of indicators on those charts, all in nice bright colours, and the chart is lit up like a Christmas tree. Trouble is, you can't see the actual branches underneath for all the adornments and tinsel. The price bars are the branches, and with a lot of practice you'll realise that those price bars tell you more than perhaps 20 different indicators. It's all back to keeping it simple.
 

Digs

Junior member
10 0
90% loose because..

-Entry level is easy
-Tools to trader are mostly not profitable, ie anything making money is usually a well kept secret
-Risk of overtrading via online trading tools
-Novices always underestimate the degree of difficultly required to be win over a peirod of time, not every one can do brian surgery
- Good trading mentors are 1 in 1000
- Low capital and bad money management

Thats why everyone fails, so 90% of the 90% who fail are plain STUPID !
 

Kael

Junior member
12 0
To be perfectly honest i find it quite amazing that such a high %age lose, you would expect at a %age like that, that the market would run out of investors (private) quite quickly, and have a high turnover of (newbie) investors, whom lose out and then never return. Surely it has to be lower? Either that or would be investors play the stockmarket like they would the horses...Again something which i find difficult to believe.

90% loss rate has got to be wrong otherwise investors would invest in...well... anything other than the stockmarket (be it long or short)
 

bonsai

Veteren member
4,106 10
kael
don't mix up investors and traders.
most investors tend to buy and hold.

its traders who have the difficulty of staying in the game and
consistently making money.

but using your philosophy, people would have given up betting
on horses , playing the wheel at the casino , buying lottery
tickets etc etc as they virtually all lose money.

But the gambling passion lurks at the bottom of every heart.
(and always will)

(Honore de Balzac)
 

Ghost Dog

Member
51 0
Why can so many in the trading world not spell 'lose'? Is there a psychological reason for it?

If we can write it down properly, maybe we can face it a bit better. 'Loosing' is my favourite.
 
 
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