My guess as to why traders fail

capital is way more importart. if you have capital you dont even need a plan. you can put on bank and earn interest. buy high yields and earn dividends. capital is number one. trading plan is second.

 

That almost sounds like a plan.

 

its a investment plan, not trading plan

 

Theres not much difference between the two, just a bit more detail.

 

Good luck on your .5% a year on interest to maybe a whopping best return of 2%... failed_trader. Some people are not happy sitting on their butts with that kind of return.... maybe you are. Hey, there's a saying that goes... no risk, no reward.

Have a good day.

 

+ 1 million

 

Metallica--"Nothing Else Matters"

They're not listening while they trade.....

 

Same old reasons - no edge and undercapitalized.

 

Whether or not there is a dependency in price is irrelevant. What is important is that you have perfect competition looking for patterns - only you have same tools, same access and execution, same commissions - no edge. Your only advantage can be a superior nervous system, but you have to be really far right on the distribution curve Luck helps too - like a 5 year bull market

 

Yes I read a lot of trading books. After all I’m a self-taught trader. You have to start somewhere. I haven’t read the one you recommended but I’ll put it on my list.

Who do I think the people with perception all one way are? They would be what is referred to as “Dumb Money “ or “Weak Hands”. It’s the people I sell to when the market goes up and buy from when the market drops.

Of course I’m wrong a lot so I could be wrong on this too. If I am it won’t cost me a lot.