What's the Biggest Reason Why Traders Fail?

Discussion in 'Trading' started by schizo, Jan 21, 2024.

Why do so many traders fail?

Poll closed Feb 20, 2024.
  1. Being undercapitalized

    13 vote(s)
    26.5%
  2. Not having a trading plan

    15 vote(s)
    30.6%
  3. Lack of discipline (eg. too emotional and not following a trading plan)

    20 vote(s)
    40.8%
  4. Lack of knowledge or experience (eg. either too dumb or too arrogant)

    15 vote(s)
    30.6%
  5. Lack of focus (eg. jack of all trades, master of none)

    11 vote(s)
    22.4%
  6. Poor money- and risk-management (eg. taking on too much risk)

    26 vote(s)
    53.1%
  7. Impatience (eg. always getting in and out too soon)

    13 vote(s)
    26.5%
  8. Overconfidence (eg. IT'S DIFFERENT THIS TIME!!!)

    16 vote(s)
    32.7%
  9. Being emotionally tied to the stocks

    8 vote(s)
    16.3%
  10. Being emotionally tied to the market direction (eg. alway bullish)

    8 vote(s)
    16.3%
Multiple votes are allowed.
  1. schizo

    schizo

    And #6: They're all out to get me. :D
     
    #11     Jan 21, 2024
  2. Hello schizo,

    Traders lose money and suffer painfully for ONLY two reasons:

    1. Buying and following trading courses.
    2. Buying and Reading Trading books.

    Stop those 2 bad things, and the money will come easily flowing.
     
    #12     Jan 21, 2024
    beginner66 likes this.
  3. taowave

    taowave

    Arent you selling your algo??


     
    #13     Jan 21, 2024
    semperfrosty and SimpleMeLike like this.
  4. Hello taowave,

    Yes, I am selling some of my algos, and I have sold some of my algos.

    And I make money every day in the ES futures market trading manually by the hand.
     
    #14     Jan 21, 2024
    beginner66 likes this.
  5. taowave

    taowave

    Whats the difference between

    "Buying and following trading courses"

    and

    Buying and following algos??



     
    #15     Jan 21, 2024
    Picaso likes this.
  6. Hello taowave,

    Traders courses=scam
    My Algos= money making
     
    #16     Jan 21, 2024
  7. themickey

    themickey

    SML, where and how did you learn to write algos?
     
    #17     Jan 21, 2024
    SimpleMeLike likes this.
  8. taowave

    taowave

    And while we are at it, When?


     
    #18     Jan 21, 2024
  9. orbit23

    orbit23

    It's actually very simple. The reason is doing "random" actions with no edge or strategy.

    And this can happens due to any of the reasons in the poll(or combination thereof).
     
    #19     Jan 22, 2024
  10. newwurldmn

    newwurldmn

    do that with whatever money do you have. Coupled with an investment in the market, you can get to 10mm pretty quickly. (I think you can take 100k to 10mm in 15 years)
     
    #20     Jan 22, 2024