90% of traders are losers

[Jason101]

You won't go bust by playing tennis.

I am not a believer in the placing of stops too far away. I have tried the advice of others and allowed my trades "to breath" but I feel that that is a load of cobblers and is the reason why traders do lose so much money.

This caught my attention because we have spoken about this before.

Do you scale out? I believe this is the only way to let a runner breath, away from the stop. Once you are in profit with most of your position letting a runner breath is so much easier.

 

[Jason101]

I'm on indices. Daily and hourly ones make me uncomfortable because the stops that I should use for them are too big for me.

So, I trade mornings and 15 minute bars. I'm happy with that and that is what everyone has to do.

I know you are happy with what you are doing but I firmly believe that there are a few opportunities a day you could easily time your 15m entry bar to enter into an hourly timed trade.

You could always close most of it for profit as a 15m bar trade and leave a runner up into the hourly charts.

 

[Splitlink]

I know you are happy with what you are doing but I firmly believe that there are a few opportunities a day you could easily time your 15m entry bar to enter into an hourly timed trade.

You could always close most of it for profit as a 15m bar trade and leave a runner up into the hourly charts.

Thanks for answering that. Looking at my quote I realise that the last word made it seem like I am suggesting that everyone do what I do. What the last word should be was "be"

I've tried what you suggest but prefer "guerilla" work. Too many of my good trades turn into bad ones if I leave them too long. How many traders see their profits turn into losses on the same trade? If 90% fail, the answer must be too many!.

 

[Splitlink]

This caught my attention because we have spoken about this before.

Do you scale out? I believe this is the only way to let a runner breath, away from the stop. Once you are in profit with most of your position letting a runner breath is so much easier.

No, my inclination is to scale in when the trade is going well but, normally, I close it 100% when I finish for the day, ie. lunchtime at the latest, most days.

What you mention is important, though, because most people lose money because of not knowing when, or how, to exit. I am sure that the entry is well thought out.

When the instrument is capable of moving 30 points in a short time in other direction, a spreadbet of 1 point is irrelevant and I take little notice of the fact that I spreadbet but, as I said before, it is far more dangerous than fixed bet gambling.

 

[Splitlink]

90+% of traders follow the... "trend is your friend", "ride the trend", "never trade against the trend" methods
90+% of traders fail.
Maybe the "do not follow the crowd" makes more sense...

That depends on the trader and the following of probabilities. I'm a trendfollower. Exiting is the problem, not trendfollowing in itself.

Not following the trend can give good results, too, but the exits must be closer and a lot depends on not making too many bad entries. This is where a lot of the 90% run into trouble. They do not realise that their entry is risky but only see what they can make if the trade goes right for them. When it reverses into loss they "hope" that it will come right.

 

[JDTRADER]

90%........Nah more like 95% and most forum users are losers to lol

 

[CityTrader90]

I've been a professional poker player for just over 3 years now and when I first started to study the game, I'd read the same statistic there as well. 'Over 90% of poker players lose money, x% break even and only a small % make profit'. It's a little daunting when you read a statement like that but with hard-work, commitment and a willingness to always improve, you'll be rewarded with success.

The day you get complacent ('and have got the game all figured out') is the day you'll lose.

I'm looking at trading in the same light. I'm new to this but I won't let that statistic bother me. I'll focus on learning money-management and making high probability trades. It's all you can do, is keep learning...

 

[Ambrose Ackroyd]

Exiting is the problem,

Is that because you fall asleep during the trade Split ?

When it reverses into loss they "hope" that it will come right.

And that is suicidal.