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.
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
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.
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.
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 .... 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
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 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
Funny indeed, I had the perception that stock traders make money because most of the friends I known made money in stocks, some havenât 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 Iâve no idea. sg20