I am sure most traders start out with unrealistic expectations, hoping their 10k account will turn into millions within the week. But is it lack of capital that is so punishing? We all know to think differently if we want different results than the 90% that fail, yet we all read the same books. right? What do you guys think? 1. Books not practical 2. Youtube gurus a joke and sends us backwards, not forwards, hurting the curve and taking our money 3. Education is impossible, since if they were that good, why teach? Sure, maybe 1% is good. 4. We are all weak emotional creatures? 5. Account is simply too small. 6. We search the internet for information, in effect hurting us as traders. 7. Too many indicators 8. Not enough indicators 9. CNBC 10. Over-trading 11. under-trading 12. The market is more random than we think? 13. Your answer. disclaimer: I am only slightly positive trading this year, but with expenses (rent, etc...) I am in the red. Good thing I had income from elsewhere.
Well i think if a person follows up 1 sector and scan all the stock in the sector he has better odd of getting a good trade.
Many traders suffer from paralysis of analysis (too much data, too many indicators). Develop and plan that works for you, a plan that you can write on paper and strictly follow. Don't let emotions get in the way of a trade decision. Work with a firm that supports and educates you and provides intra-day market intelligence and color. Have a trading product that does what you need that you can understand. Good luck!
All those things you mentioned are different forms of "stupidity". Don't get hung up on over-intellectualizing it.
Because many traders really want to lose their money. The vast majority do not have the necessary discipline to be successful. Many traders are in the markets for thrills and have a gambler's mentality.
They fail initially because they don't take the time to research the markets, pour over the data and develop a trading plan. That particular phase should take months. In fact, two systems should be developed. Perhaps even three. One for when the market is in an up trend (as denoted by short MA above Long MA). One when the market is in a down trend. And one for when the market is in transition.
FWIW I believe the one that ultimately succeed are the ones who interalize it and work on themselves... In lieu of working on the market, chasing systems, and / or perfecting indicators