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

    But how is that even possible without experience, knowledge, and above all, discipline? Somebody could have handed you an edge without telling you, and you would have simply ignored it as a rubbish. In fact, that happens a lot on this board.
     
    #51     Jan 22, 2024
    Picaso and Lou Friedman like this.
  2. ironchef

    ironchef

    You are right: I shouldn't look a gift horse in the mouth.
     
    #52     Jan 22, 2024
  3. Hello taowave,

    I am not sure what you mean by setups.

    But yes, the more trades the better.
     
    #53     Jan 22, 2024
  4. Hello schizo,

    LOL, why make life complicated. Just click the buy or sell button and make money.

    Why do I need to be poser or simpleton to understand this basic concept?

    Why make your life complicated? I am having the best time of my life clicking everyday. Nothing is more easier than this.
     
    #54     Jan 22, 2024
  5. themickey

    themickey

    Sounds like the devil talking to me. :)
     
    #55     Jan 22, 2024
    semperfrosty and SimpleMeLike like this.
  6. Hello schizo,

    What is there to learn?
    Where will you learn it from?
    Who will teach you?
    Where will you find the teacher?
    How do you trust the teacher?
    What if you cannot afford the teacher?
    What if you never find the teacher?
    How long will it take you to find the teacher?
    What will you learn, and how you will learn?
    How many more years of your life are you going to spend learning?
    What if you die tomorrow still trying to learn?
    Why is there more to learn?
    What does learning mean?
    What is there to know?
    Who knows what is to know?
    How will you know whenever you think you know?
    Where is your trading plan?
    Where you get that trading plan from?
    How you know the trading plan works?
    How many trades will take to say it works?
    What is a setup? How does a setup look? How you know it works?

    and on and on and on and on and on and on and on. And going around and around in circle and get nowhere.

    I make my life simple, by stop searching for the know, and do what I want to do everyday on the chart. LIFE IS SOOOO much easier this way. And far more successful and rewarding. I ONLY trust my two eyes and the sell and buy button. I KNOW NOTHING and I LOVE it.

    This is why I say trading books is a setback, it makes you a DUMB ASS trader, cause you never know if you being lied to and you have to start ALLL over again re-learning, you take FOREVER to get rich. You be 70 years old still trading 1 ES contracts reading dumb ass books.

    Chart NEVER EVER in a million years will lie to me.
     
    #56     Jan 22, 2024
  7. #57     Jan 22, 2024
  8. themickey

    themickey

    Says it all, the charts imo constantly tell lies.
     
    #58     Jan 22, 2024
    SimpleMeLike likes this.
  9. Knowledge and experience are the main reasons for sure. You can get 1;3000 leverage so I wouldn't agree with capital being the reason. And most other reasons are caused by the lack of the two previously mentioned factors.
     
    #59     Jan 22, 2024
  10. Hello themickey,

    Well, sorry to hear that sir. The charts, is ALL I have to rely on. It is my only peace of mind and the best truth in my life.

    Frees my time for other hobbies in life too.
     
    #60     Jan 22, 2024