It’s impressive that you’ve been in forex for over a decade! The statistic about 90% of traders losing money has been around for a long time and still holds true for many, including in 2020. The reasons often include lack of education, emotional trading, and insufficient risk management. While it's a tough statistic, it highlights the importance of proper training and strategy. Many successful traders emphasize continuous learning and discipline to improve their chances of success.
Another factor that contributes to failure in forex is overtrading, when there is a desire to make a large number of trades without a sufficient reason to quickly compensate for losses or achieve greater profits. Therefore, I think that when trading, the quality of trades is more important than their quantity in order to earn more consistently.
The 90% statistic highlights forex's challenges, not exact accuracy. Many traders lose due to lack of education, discipline, or risk management. Success demands consistent learning, emotional control, and a solid strategy. While losses are common, dedicated traders can improve their odds. Statistics vary, but principles remain crucial.
Yep, that 90% stat is still pretty accurate. Most traders struggle with emotions, poor risk management, and impatience. Consistency and discipline are key to success.
Many traders also cannot adapt to changing market conditions. They think that if they found a trading strategy somewhere and started trading according to it in a template manner, then everything will work out for them right away. But often any found foreign strategy needs to be gradually adjusted, analyzing your unsuccessful trades and thus gradually improving its quality.
The 90% loss statistic reflects consistent trading challenges like lack of discipline, poor risk management, and over-leveraging. Exact data varies, but industry averages confirm most traders struggle. Success demands continuous learning, strong psychology, and a robust strategy.