90% are loser ..why ?

steveday1976 posted:

finnishpension posted:
90% are loser in life it is not surprising that 90% also lose at Forex

, LOL, maybe a bit high but there are certainly a lot.

Look at the community outlook page, and see that there are 69% profitable accounts, and 30% non profitable.

Brokers state that abt. 70% are non-profitable, and abt. 30% profitable, thus we can conclude that Myfxbook traders are better than that in general.

Probably this winning/losing ratio follows the bell curve, again..

niceGLer posted:
Spread is the main reason. Market plays are the second. If one opens arbitrarily positions, and closes them after 20 pip loss and profit, losses equal to spread :)

Other reasons are the ones mentioned above, I guess :)

Absurd...... Spread? Spread is generally irrelevant unless you're a scalper that requires very low spreads.

If that's the case, then you need to reconsider your trading strategy and get a better broker.

Professional4X posted:

niceGLer posted:
Spread is the main reason. Market plays are the second. If one opens arbitrarily positions, and closes them after 20 pip loss and profit, losses equal to spread :)

Other reasons are the ones mentioned above, I guess :)

Absurd...... Spread? Spread is generally irrelevant unless you're a scalper that requires very low spreads.

If that's the case, then you need to reconsider your trading strategy and get a better broker.

Let me clarify this statement. Mathematically, if someone opens arbitrarily equal number of trades and closes them in either 20 pip profit or 20 pip loss that results in net loss that equals to the amount of spread. So forex, from starting point is not zero sum game, it has a negative expected value.

Now, as a beginner an individual has no luxury of low (negligible) spreads. That results an average spread of 1 to 2 pips per trade execution. That means a net loss of 2-4 pip per each winning and losing trade (spread is taken two times).

That forces an individual to move to a higher time frame (a reason why it is instructed to trade no longer time frame than 1H).

I still claim that spread and market fluctuations play a major role, why some people don't succeed in trading forex.

Spread might not play a role in 4H, 1D or W time frame, that is right.

because they use PA

Sigh.. I miss that 'edit'-button.. My intention was to say that generally it is advised to trade in longer time frames, not in the shorter time frames. Generally, 1H time frame is an intermediary between longer, and shorter time frames. This general rule of thumb is in my opinion a direct result of spread. Just plot both bid, and ask lines in MT4 window, and look in which kind of proportion the spread is related to one individual candle.

Professional4X posted:

niceGLer posted:
Spread is the main reason. Market plays are the second. If one opens arbitrarily positions, and closes them after 20 pip loss and profit, losses equal to spread :)

Other reasons are the ones mentioned above, I guess :)

Absurd...... Spread? Spread is generally irrelevant unless you're a scalper that requires very low spreads.

If that's the case, then you need to reconsider your trading strategy and get a better broker.

Indeed, I can hardly see how spreads would be preventing someone from being profitable, other than from very tight scalping.

EliteCapital1 posted:
Forex is a long term game not get rich quick system. I am the proof of that. when I started i traded in short time mind set and I made lot of money. But lost all of it. Then I started to look in long term goal and changed my strategy that way. I have not looked back since 2016.

This. Do not hesitate to cut losses. Always look for the long term.

most have lost the plot , learning is the key to winning most are just greedy they see the big dollars before they learn ,

ratou11 posted:

EliteCapital1 posted:
Forex is a long term game not get rich quick system. I am the proof of that. when I started i traded in short time mind set and I made lot of money. But lost all of it. Then I started to look in long term goal and changed my strategy that way. I have not looked back since 2016.

This. Do not hesitate to cut losses. Always look for the long term.

What us the long term for you? Daily or Weekly or Even monthly?

aussimoney posted:
most have lost the plot , learning is the key to winning most are just greedy they see the big dollars before they learn ,

yeah, it is something that can take years to master. Some people seem to think it will only take weeks/months.

ratou11 posted:

Professional4X posted:

niceGLer posted:
Spread is the main reason. Market plays are the second. If one opens arbitrarily positions, and closes them after 20 pip loss and profit, losses equal to spread :)

Other reasons are the ones mentioned above, I guess :)

Absurd...... Spread? Spread is generally irrelevant unless you're a scalper that requires very low spreads.

If that's the case, then you need to reconsider your trading strategy and get a better broker.

Indeed, I can hardly see how spreads would be preventing someone from being profitable, other than from very tight scalping.

By trying to trade breakouts with moving averages?

indeed true i've walked this journey and i completely agree with you guys. treat forex just as a business you will go far

kwalanda1 posted:
indeed true i've walked this journey and i completely agree with you guys. treat forex just as a business you will go far

yes trouble is a lot of people who start tradind do not think this way.

niceGLer posted:

ratou11 posted:

EliteCapital1 posted:
Forex is a long term game not get rich quick system. I am the proof of that. when I started i traded in short time mind set and I made lot of money. But lost all of it. Then I started to look in long term goal and changed my strategy that way. I have not looked back since 2016.

This. Do not hesitate to cut losses. Always look for the long term.

What us the long term for you? Daily or Weekly or Even monthly?

Referring to long term trading is not what time frame I use to trade. It's rather how particular currency going to behaves in next 1-2 years. I use daily chart and I calculate my p/l yearly basis...

Wrong leverage and risk management I think are the two big factors that beginner traders fail I find. Also letting emotions get in the way of trades is another biggie. Experience and proper money management are two things I push to new traders.

Many fail to achieve profits in this field, that’s right. Now there can be various reasons behind this, but the majority one, I think is greed. New traders and even some old experienced ones are stuck to think that forex is a money making machine that will give them returns in seconds and this greedy nature often forces them to over trade in forex. No! To master this field and get consistent returns you will have to be very patient and trade keeping practicality in mind and not greed. This is lacking in most of us, which is why traders tend to loose here.

People lose due to many reasons. But speaking with a lot of such losers I noticed one thing - they all are lack of confidence. They don't believe that they can win, so they even don't try to be successful. Trading and losing for them is natural and confirm their opinion. So don't be losers in mind :)

90%? I have read on the https://www.thebalance.com/why-do-forex-traders-lose-money-1344936 that even as much as 96% of forex traders lose money. Having said this, 100% beginners with no strategy lose money 😁

Poor education. 99.9% that is free is . Poor mentors. You can't do well when you don't know what you're looking for. They're not persistent : most of them don't even trade for 3 months because they lose the entire stack ->>> They take BIG risk ! They don't have risk management, a beginner SHOULD NOT risk more than 0.5% per trade! They look at it as a get rich over night thing, this is what social media made out of it, they're impatient. You have to submit the time. A few years. Slow and steady wins the race, they go for the home-runs.