Why 90% of retail traders fail...

Nov 15, 2013 at 16:44
8,485 Просмотры
124 Replies
Участник с Dec 19, 2012   28 комментариев
Nov 15, 2013 at 16:44
Check out the blog - you might like it :)

https://fx-parity.tumblr.com/
Участник с May 04, 2012   1608 комментариев
Nov 15, 2013 at 16:57
Actually it is 95%... If you do not have edge, don't even bother to compete with the 5%...
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Участник с Dec 19, 2012   28 комментариев
Nov 15, 2013 at 17:41
If you've read the blog already, I think you're missing the point. The number is not only irrelevant, but it's not an indication of the competition. The article explains this. It's more about why this number is as high as it is (irrespective of facts) and what it means to you.

At the end of the day, it is impossible to prove. What's more important is this misconception of this number and why so many view it as a benchmark.

If you understand why so many retail traders are failing, then 'you' can do something about it...
Участник с May 04, 2012   1608 комментариев
Nov 15, 2013 at 17:52
Belonging to the 5%, well, I don't care too much about it...
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Участник с Dec 19, 2012   28 комментариев
Nov 15, 2013 at 18:28
Lol, ok.
Участник с Nov 02, 2009   85 комментариев
Nov 15, 2013 at 21:03
Nice article, do you think the per cent of losers is less in other markets rather than forex?
Preservation of capital and home runs.
Участник с Dec 19, 2012   28 комментариев
Nov 16, 2013 at 00:02
No. It is EXACTLY the same. The market is irrelevant.

Glad you liked it none the less. Hopefully it can help 'you' (generally speaking), realise what elements of trading are important.

Have a good weekend all! :)

forex_trader_136673
Участник с Jun 28, 2013   852 комментариев
Nov 17, 2013 at 07:24
@FxMasterGuru

I would like to see a real account that proves your claim that you belong to the 5%.

I belong to the crowd (95%) 😲
Участник с Dec 19, 2012   28 комментариев
Nov 17, 2013 at 10:44
Let's not get silly now. I think it's important to try and remember that trading is not about being competitive with everyone all the time...

If he says or think's he's apart of the 5%, then good for him? Just focus on what your goals are :).
Участник с Jun 03, 2010   696 комментариев
Nov 18, 2013 at 10:55
ahuruglica posted:
@FxMasterGuru

I would like to see a real account that proves your claim that you belong to the 5%.

I belong to the crowd (95%) 😲

Maybe lets analyze why he doesn't publish his robots even here? Maybe he thought that 5% is losing :D
PAMM MANAGER // Professional Fund Manager
Участник с Nov 16, 2013   95 комментариев
Nov 19, 2013 at 07:39
DGilberto posted:
Check out the blog - you might like it :)

https://fx-parity.tumblr.com/

Nice work, DGilberto.

Please put PSYCHOLOGY to rank number one .. 😭
The weakest creature in the world is a human. It's a reason why the human always develop anything to make them stronger. I am here is just for share, not teaching anyone :)
Участник с Dec 19, 2012   28 комментариев
Nov 19, 2013 at 10:55
Hey, thanks Yohana - Hope it could help in some way?

I think the position of PSYCHOLOGY was just to re-emphasize the entire article. I put it in capitals because, essentially, that's what makes up the foundations of a good trader; being able to properly focus on all the other areas, other than money.

You are right though. Psychology is number one. But it's also 2,3,4,5,6,7... It's through-out the entire process :)

Thanks for your post.
Участник с May 04, 2012   1608 комментариев
Nov 19, 2013 at 11:25 (отредактировано Nov 19, 2013 at 11:42)
DGilberto posted:
Hey, thanks Yohana - Hope it could help in some way?

I think the position of PSYCHOLOGY was just to re-emphasize the entire article. I put it in capitals because, essentially, that's what makes up the foundations of a good trader; being able to properly focus on all the other areas, other than money.

You are right though. Psychology is number one. But it's also 2,3,4,5,6,7... It's through-out the entire process :)

Thanks for your post.

DGilberto is ABSOLUTELY RIGHT! This is exactly why trading firms employ psychologists and there are so many books about trading psychology (just do a quick search on Amazon). On the other hand psychologists and books are useless, unless one has the adequate mental and emotional setup/foundation for trading.

Personally I DON'T. Admitting it (after reading all the books about trading psychology) was the first step to become successful in trading. How? I just quit manual trading completely and moved to the algorithmic approach 100%. No more stress, no more fear & greed, no more fatigue and staring at the monitors for endless hours. I let the 'bot' do the job, and as a 'side-benefit' I got my life back, so actually I have time to enjoy the money.

Belonging to the 5% is possible, although it took 4+ 'painful' years and 10,000+ hours for me, which confirms Malcolm Gladwell's observation detailed in his recent bestseller: The Outliers. (https://gladwell.com/outliers/outliers-q-and-a-with-malcolm/)
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Участник с Dec 19, 2012   28 комментариев
Nov 19, 2013 at 11:32
Great post - thanks FxMasterGuru :)
Участник с Oct 22, 2013   5 комментариев
Nov 19, 2013 at 11:46
Great read! Thanks for sharing!

-W
Участник с Nov 16, 2013   95 комментариев
Nov 19, 2013 at 11:46
DGilberto posted:
Hey, thanks Yohana - Hope it could help in some way?

I think the position of PSYCHOLOGY was just to re-emphasize the entire article. I put it in capitals because, essentially, that's what makes up the foundations of a good trader; being able to properly focus on all the other areas, other than money.

You are right though. Psychology is number one. But it's also 2,3,4,5,6,7... It's through-out the entire process :)

Thanks for your post.

Oh I see.

I understand what you mean, DGilberto.

Thanks :)
The weakest creature in the world is a human. It's a reason why the human always develop anything to make them stronger. I am here is just for share, not teaching anyone :)
Участник с Jul 02, 2013   57 комментариев
Nov 19, 2013 at 22:06
i think its actually 96%
Sleep is for the weak
Участник с May 04, 2012   1608 комментариев
Nov 19, 2013 at 22:11
dgaf posted:
i think its actually 96%

My guess is 95.7%. Where did you get the data from?
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Участник с Jul 02, 2013   57 комментариев
Nov 20, 2013 at 12:18
Участник с Dec 19, 2012   28 комментариев
Nov 20, 2013 at 12:32
dgaf posted:
https://forextrading.about.com/od/forexfaqs/a/forex_traders_lose_money.htm

Thanks for the link dgaf :)

That's a great article that simply illustrates: Problem > Solution as if it's some quick fix solution. The article is 100% correct, however, the application of that advice is simply ignored, meaning, it ignores to explain WHY retail traders behave the way they do.

Lets face it, that is nothing profound. In fact, it's fairly obvious stuff. When it comes to actually implementing that advice, most of the time, retail traders fall short. It's all because of this underlying factor of = money. It will catch you in the circle of doom. Find a strategy > trade it > hit a few losses > dump it > find a strategy > trade it > hit a few losses > dump it > find a strategy ... and so on....

Understanding the WHY first, will allow you to progress in the right mindset. Just my thoughts :)

Cheers :)
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