If so many people are unsuccessful traders...

Discussion in 'Trading' started by IronFist, Jan 26, 2007.

  1. gnome

    gnome

    Righto! What's needed is the "Opposite George" approach. :D
     
    #21     Jan 26, 2007
  2. gnome

    gnome

    Trading success requires:

    1. Knowledge of "what usually works"

    2. Discipline/courage to take proper risks

    3. Discipline to exercise reasonable stops

    4. Pay attention

    The worse you are about any/all of the above, the greater your probability of failure.
     
    #22     Jan 26, 2007
  3. You also need to pocket and the spread and any commission the losing trader is paying.

    In the UK, the spread betting companies effectively do this.

    The few winners are hedged, the losers are just left to get on with it and are effectively paper trading with real money and a wide spread and delayed executions.
     
    #23     Jan 26, 2007
  4. This is the only answer needed for the OP's question.

    It is true that most beginners enter the markets without an edge, without fully understanding their approach or even having a codified approach. Nevertheless, their losses have as much to do with their emotions as where they enter and exit.
     
    #24     Jan 26, 2007
  5. Buy1Sell2

    Buy1Sell2

    No. Ridiculous. The same money management skills would be used and the individual would still lose. Unbelievable.
     
    #25     Jan 26, 2007
  6. Close enough! :D
     
    #26     Jan 26, 2007
  7. I find without stopping losses gives results that I do not expect. :D
     
    #27     Jan 26, 2007

  8. If I had my druthers I would run a brokerage and take the other side of all trades. I would kick winning traders out.
     
    #28     Jan 26, 2007
  9. mokwit

    mokwit

    Already done. It's called retail Forex
     
    #29     Jan 26, 2007
  10. asap

    asap

    right in the money.:D
     
    #30     Jan 26, 2007