Why most traders fail

Discussion in 'Trading' started by LondonUSTrader, May 30, 2008.

  1. burst

    burst

    Listening to Jack Hershey and going slowly insane would be right up there :p
     
    #11     May 30, 2008
  2. Trading books are like ET. 95% of what is written has no value. However, you find 5% of the information has great value and is very helpful.

    How do you find the 5% of good trading books? Research the trading records of the authors and you'll find those with good long term records are usually worthwhile reading. There's good information out there if you filter out the rubbish.
     
    #12     May 30, 2008
  3. sg20

    sg20

    False expectation is hoping to make 800% in five years. 100% per year is more realistic, that turns out to be 1600% in five years using maximum capital available given that you can double up every year, and a bad year will wipe out the entire account.

    I'm not sure you can convinced me that you are a trader, you said: "trading indicators and price analysis...", its technical indicators and price action from our trader's lingo, what you termed didn't sound right to the ear.

    I don't think any thing be can be substituted for a good tool of analysis, TA or PA yet traders failed because they are not technically sound (bad judgments) plus factors such as poor money management and lack of discipline contributing the poor performances. Statistics are good but you'll need more than just that to achieve good results IMO.

    sg20
     
    #13     May 30, 2008
  4. mokwit

    mokwit

    Agree. A quick check of the inside back flap can screen out a lot of newsletter authors vs traders. Books that are worth reading usually do not have mass (herd) appeal and go out of print. ROSO was out of print for years.
     
    #14     May 30, 2008
  5. Trading is overrated. Long term trading/investing works far better. I don't understand why most people fail to see that short term chart patterns and trends are for the most part random.
     
    #15     May 30, 2008
  6. mokwit

    mokwit

    sure they are................
     
    #16     May 30, 2008
  7. ElCubano

    ElCubano

    most traders fail becuase thats the way the game is set up.....just like most people going to vegas lose money, by most i mean alot :D .... the edge is tilted against ya'll....

    this by no way means one can't make money....it just means that MOST can't...peace
     
    #17     May 30, 2008
  8. sg20

    sg20

    Stock traders are the exceptions; most make money if they have some experiences on their side.

    sg20
     
    #18     May 30, 2008
  9. ElCubano

    ElCubano

    100% inccorect; the fact that while the stat may be off it shows MOST lose money is an indication how wrong the above statement is.... I am not saying one cant make money I am just saying that MOST just absolutely can't...i'll bet on it :p

    do you honestly think that some that fail arent well capitalized, experienced and disciplined even moreso than traders that actually make money....thats the funny thing around this here world of trading....peace
     
    #19     May 30, 2008
  10. sg20

    sg20

    Funny indeed, I had the perception that stock traders make money because most of the friends I known made money in stocks, some haven’t had a losing trade in two years except for the some period of this year. This may be far fetch thinking but it probably still much easier to trade stock than futures or fx thus the success rates must be higher, by how much I’ve no idea.

    sg20
     
    #20     May 30, 2008