It is commonly known that most forex traders fail. In fact, it iss estimated that 96 percent of forex traders lose money and end up quitting. so I want to ask that what reason behind it? Please share your experience about it.
it's not 96%, it's 99.6%,
and 2 main reasons, either the trader does not have a strategy with an edge, or if they do, they are unable to wield it
.........are you selling something?
and 2 main reasons, either the trader does not have a strategy with an edge, or if they do, they are unable to wield it
.........are you selling something?
Because the simple answer is 9 " of a failure.It applies to all types of traders.
http://www.trade2win.com/boards/trading-psychology/165064-9-inches-makes-successful-traders.html
ask yourself this..if anyone who hadnt played golf before woke up tomorrow and decided to become a sucessful professional on the US or European Golf circuit say inside the next 3 years...... what % chance would you give them ?
5% ?........0.5 % ......Zero ?
ok welcome to trading
....N
"Gambling" sure gets bad press at T2W .......lucky I dont so it much anymore
N
"Gambling" sure gets bad press at T2W .......lucky I dont so it much anymore
N
Personally I prefer to acknowledge it, and deal with it.
Motorhead- Ace of Spades - YouTube
Oh, and the reason they lose should be bleeding obvious
It is simple, it's because 2-3% big players always put down their bets after you, every single time, they can see every of our "cards" (position, size margin etc)
then so call smart money or big player moves the market to our opposite direction. It's not because 96% of us aren't smart, this is a not fair game, so if you want to play this game, well you need to wait till the big player in the market ,then you follow them when they're gone. You better go to have a cup coffee.
then so call smart money or big player moves the market to our opposite direction. It's not because 96% of us aren't smart, this is a not fair game, so if you want to play this game, well you need to wait till the big player in the market ,then you follow them when they're gone. You better go to have a cup coffee.
Most forex traders are undercapitalized and risk far more then they should. At the beginning, if a trader approaches the market with minimal leverage and a real trading plan they can have success.
All this talk about the the major institutions manipulating price is BS, I know first hand. It can be done for a while but only by the institution with the deepest pockets. That would be the central banks. Isn't the BOJ doing this right now? The major institutions are along for the ride but they will unwind the trade as soon as the BOJ sneezes.
Many people have become successful forex traders but you have to walk before you run. Iv'e seen too many fledgling traders try to run too soon. The available leverage is the killer.
ask yourself this..if anyone who hadnt played golf before woke up tomorrow and decided to become a sucessful professional on the US or European Golf circuit say inside the next 3 years...... what % chance would you give them ?
5% ?........0.5 % ......Zero ?
ok welcome to trading
N
I thought this was worth reverberating. Classic!
I figure the reason most forex traders lose is because they are greedy and emotional, and overwhelmingly afflicted by past experiences.
I'm new to the exchange but I've found it very easy to net profits consistently, only problem is my strategy is so very basic that it limits my upside enormously. But I figure best not get greedy this early on in my Forex career.
I'm under the impression the reversals are rigged in advance, but the quick pips on the minute time frame are not, they happen more on the fly which is why they tend to be so utterly unpredictable. It's a constant battle out here on the forex. You're best off just betting on the biggest money in the game. Dollar short. Psychology is key. Use your emotions or they'll use you.
Last edited:
I think ignorance has a lot to do with the high rate of failure. They approach it wrong, don't put in the work and think they can profit very easily.
Precisely, "They don't put in the work". That is the biggest reason that traders fail. I'm glad someone gets it. Only the people who really do the work are are rewarded. I've never met anyone who has ever been successful that wasn't totally consumed with their job.
