99.2% figure sounds a bit too low of a failure rate for me considering most people don't invest even 1% of the efforts required to study this profession properly.
What should a person be doing if they wish to "study this profession properly"? I think the majority of people who really try to crack this trading game put forth a great effort, but obviously, if you look at the success rate, they are not going about it the correct way. People learn, when they are young, how to go about "mastering" a subject, but I think at least when it comes to trading that what we learn when we are young is just plain wrong.
I have seen many struggling traders and most had wrong expectations first of all. Trading is a complex skill and it takes time for proper synapses to build in your brain. What does it mean? That one has to deliberately practice SAME THING for a time long enough (individual for every person, depending on her neural constitution). Now what most struggling traders do in reality? Try something... ahh doesn't work... something else... ahh shit, doesn't work too... et cetera. Infinite deadly spiral. They put amazing amount of efforts into searching instead of learning to perform and end up completely exhausted and with severe post-traumatic syndrome due to losses and absense of positive stimuli. When in reality it's as simple as choosing a SINGLE instrument, SINGLE time-frame, SINGLE set of studies (or no studies at all except price), same colors of trading platform even to teach the brain react on same stimuli intuitively and automatically. And do it until... not "if"... UNTIL it DOES WORK for YOU. No excuses allowed, period. That's it shortly. P. S. "He can show you where to dig and what to dig for, but the digging you must do yourself" (c) Matisyahu.
Sure: poor understanding of swings meaning S&R and Trend Line placement was weak. No use of velocity on S&R. Erroneous candle signal recognition. Incorrect trade execution and stop placement. Zero structural awareness. Absolutely no awareness of quality to distinguish between similar looking signals. No understanding of how to read bar by bar. To digress a little, it's amazing the number of traders who subscribe to paid S&R services because they don't know how to read the best levels themselves or the number of traders who have given up on trend lines and claim they are worthless because they have no understanding of the rules of construction.
It will be nice for you to have something to do. See if you can come up with something original this time, which would be quite something for a troll WARNING: I will be marking you out of 10 and if you drone on abut the same old same old you'll get embarrassingly low scores. Real life moves on for traders, but never for trolls
Learning is ingrained and reinforced by emotion, if you lose your wallet you dont learn how to look for it more efficiently, you learn to double check its still in your pocket, in the markets you need a clean slate of mind, you need to learn to look and understand what you are doing in a much more effective manner..new comers get traped into a cycle of expecting to lose and then doing so...a lot never leave this cycle to go on and build the understanding and skills that would allow them in years to come, by looking back at their progress, realize how wrong they were when they started out.
sheda, everytime you take your head out of your ass and start talking it stinks up the joint why don't you stick it back up there where it belongs and let us breath a little?
I dont recall being abusive to anyone, if there is a stink its not coming from my end, conscious and unconscious emotional learning, the impact of emotion upon learning and the shaping/filtering of perception, the conditioned response etc are well understood, considering money is so closely linked to survival these issues play an important role here, nice contribution to the forum from you there though..