It's quite simple really, drawdown and consistency are not sexy. Squiggly lines on the chart are sexy in the eyes of a novice trader. Sex sells, squiggly line sells. Any good marketeer or advertisers knows to dangle in front of that buyer only what they want to see. This is unfortunate in a business where 95% plus, lose all their money. I always point to the turtle trading method when talking about drawdowns. Method works overtime you can make money using this method however, at any given moment you will have to deal with a drawdown of 60% or more. There is no retail trader that could sit by and watch 60% of their account disappear even knowing in the long run they will profit eventually, well maybe there is no guarantee.
unfortunately there are still people who would invest right away after reading/hearing something they want even if its not the way it really is!! its their choice to make i guess. though yeah it is a waste
For the most part I feel that traders are smart people with a lot to gain but in dealing with numbers while new to promoting my own strategy i keep coming across really stupid people that invest in lose- lose situations while all the numbers are right in front of them and I just may be too nice to say "your an idiot for investing in that s#[email protected]!!!"