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Originally Posted by europeanson7
How are so many people losing money if it's as easy following a free system posted on the internet? Are these systems not actually profitable, or are the masses too stupid to follow the guidelines exactly?
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In part, some of the systems you see out there aren't work the time it takes to read them. There are a lot new traders trotting out ideas they have which either haven't been properly tested or are only good under certain types of market conditions. The other part, as others have noted, is lack of education, an overly inflated ego, lack off appreciation for the risk, and a few other related elements.
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Another thing that I find laughable is when people say you need to find a system that fits yours personality. What does following directions have to do with my personality?
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I'm glad you get a laugh out of that because I'll be laughing as I take your money.
OK, that might have been a bit more mean than I'd usually be, but you're speaking from a decidedly narrow perspective and without much in the way of experience at all. If it were only folks posting here saying matching your trading to your personality is important, then you might be able to write it off. However, when folks who have made many millions of dollars in the markets say the same thing, I think you want to take it seriously. Read Market Wizards.