Why 90% of retail traders fail...

RobSchiz posted:

NihadMunif posted:
Everything because these traders don't have enough knowledge, skills and experience. Basically, the same happens in any other activity, where people don't want to acquire knowledge and just want to make money work on them, while it doesn't work like that. Money always works on those ones, who made some efforts in their life in order to earn this money, ot on those ones who don't care about money at all. In my opinion, it's a real gift from a nature, when you're like a magnet to money. I guess we have to keep closer to such people, because they're pretty useful. Anyway, 90% of traders fail because of lack of desire.

Lack of proper knowledge and skills is the main reason to fail.

Yes. You need to have proper knowledge to make a good career.

It doesn’t surprise me. The vast majority of people are simply driven by emotions. It allows them to become very easy victims for market makers. The latter make the crowd open trades in the required direction and the crowd losses money in the end, although not all of them, of course.

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Believing that they can rock up to a $7tn a day market with no education in it or prior experience and make a fortune out of it. Only in forex. Can you imagine people doing the same in medicine?!