if such is your preconceived idea of trading and losing, then may i humbly ask, before market opens in the next few hours, what on earth are you hanging around trading arena like elite trader for? surely, you won't want to waste your time on something that does not increase your pleasure, nor your wealth, nor your well being...., woud you? not that i do not agree with yours and others' generalization and conclusion that most new traders would lose their investment within the first few months of trading. nevertheless, the reasons that they lose are much worthy of further analyses. as you know there are numerous reasons that new traders lose their investment. mainly most lose because of: 1-inadequate personal knowledge about the product they choose to trade; 2-inadequate preparation to enter and exit the market and how long to hang on to a trade; 3-inadequate money management training, knowledge and skills, and; 4-inadequate or ineffective personal trading plan and strategy.... now that i state some of the reasons why new traders fail to trade profitably, i would like to point it out to you clearly and unequivocally that there is a big distinction between new traders and small traders. most of the new traders would lose and that is a generally accepted condition and situation. but that is not the same as saying SMALL TRADERS would follow that same fate as well. small traders who could survive and hold on to whatever they learn, whatever they know, whatever or however they survive for over a year.... most of them would find some way to continue to survive.... like so many part time traders in different markets.... then, perhaps, it would make your destitute foregone conclusion that 90% of small traders lose.... more interesting to e.t. learners and traders alike... DEFINE, IN TERMS OF OPERATIONAL STATEMENT which is observable, measurable, quantifiable.... YOUR PERSONAL CONCEPTION OF WHAT A SMALL TRADER IS.... would you like to do that for us.... so at the very least.... we'll have a common ground to discuss further just who the small traders are, how small is considered by you as small.... and the questions of new traders vs small traders.... et cetera.... only if you have the time to pursue this.... ok? can't we google and get a summary of sort.... lol
Right. Only deliberate work, a lot of hard work and some iron self-control, risk tolerance and other rare qualities make a good trader. So if you do not have those qualities you better practice a sure janitor's career. Doing your own business of whatever nature be it pizzeria or trading has a high failure rate and is not for people who are scared of hard work for years or a failure.
you are brand new. http://articles.latimes.com/2011/apr/03/business/la-fi-amateur-currency-trading-20110403 According to this article, 75% on a qtr basis of small traders lose. This result to 98% of small traders lose annual Also, of the 615,000 accounts annual, at least 605,000 accounts lose. More than 90% of small traders lose. They just lose!
THEN.... WELL THEN.... do you have an ounce of brain of your own to think differently.... maybe to think UNLIKE most others who are, as you called them, losers.... or are you also.... already counting yourself as another loser as the article portrays....? in order for any to trade successfully and profitably.... you must be able to think and plan for yourself.... to do and execute your strategy differently from others.... otherwise.... you will be just like any one of them.... as you so aptly classified them as losers.... are you a loser by your own definition too....? I SURELY HOPE NOT.... come on, you guys.... you have brain to think and act on your own, right? never let someone else's bad experience rub off on you too much.... it will drag you down the tube just like what it did to others.... so what if 99.99% can not do it.... does that mean.... you can not do it either....? don't ever let that sort of defeatist outlook and description bury you.... alive; heavens forbid....
And how do you measure the probability of a certain action? You can't say that since 80% of the last ascending triangles, for example, we winners so on the next 10 I will win on 8. That type of analysis is heavily flawed. The only way you can determine the true probability of a certain market action is through statistical analysis.
If only 90% of traders make it, to start with only 3K means that the probabilities of getting rich are...what? But you can 'die trying
As you know for small business start-ups there's a statistic that goes something like (101 college microeconomics): 90 % Fail after the first year of those that survive, 90% fail after the first 5 years and so forth. What would be the probabilities of a NEW trader to survive if he survives his first year, regardless of account size? Anyone?