Why do almost all Forex traders fail

[Davidee]

Originally Posted by cas

Because they [95% of Forex traders] can't admit that they [95% of Forex traders] are wrong and the market is always right.

You mean that when the market acts, after they've placed a trade and show's they're wrong they stick with it rather than reversing their position?

[cas]

Originally Posted by Davidee

You mean that when the market acts, after they've placed a trade and show's they're wrong they stick with it rather than reversing their position?

And hoping that it will turn around.

The 95% sit there passive like a rabbit in front of a snake so to speak and watch the market prove them wrong..pip by pip...by pip...by pip. Over and over and over again.

The 5% don't do that. They are active and not passive.

Speak to any one of the 5% group and ask them what their biggest trading accomplishments are.

They are not going to tell ya about their big wins...they tell ya about how they actively got out of positions that reversed against them before they turned into a major loss.

Averting disaster so to speak and actively protected themselves.

In my experience...any trader that brags about his/her wins and hides his/her losses needs to be taken with a grain of salt so to speak.

[on the bid]

successful players know how (& when) to lose professionally.

[Davidee]

Originally Posted by on the bid

successful players know how (& when) to lose professionally.

LOL! That's quite a good way to put it actually.

[xtraction]

Originally Posted by cas

And hoping that it will turn around.

The 95% sit there passive like a rabbit in front of a snake so to speak and watch the market prove them wrong..pip by pip...by pip...by pip. Over and over and over again.

The 5% don't do that. They are active and not passive.

Speak to any one of the 5% group and ask them what their biggest trading accomplishments are.

They are not going to tell ya about their big wins...they tell ya about how they actively got out of positions that reversed against them before they turned into a major loss.

Averting disaster so to speak and actively protected themselves.

In my experience...any trader that brags about his/her wins and hides his/her losses needs to be taken with a grain of salt so to speak.

What makes traders not reverse their positions? Is it disbelief? Don't they believe what they see? Is it because their indicators or method said the price was going to go one way and they believe their indicators or method instead of what their eyes see?

Why don't they place the trade in a demo account first to see if works out and then if it does, place the trade in a funded account? Is their trade only worth a few pips rather than dozens of pips?

[cas]

Originally Posted by xtraction

What makes traders not reverse their positions?

Because they overstepped the psychological tolerance level.

Is it disbelief?

They are out of their depth.

Don't they believe what they see?

Fear...it's all what they see.

Is it because their indicators or method said the price was going to go one way and they believe their indicators or method instead of what their eyes see?

That's headspace bending. It has no meaning except sowing the seed of confusion.

Why don't they place the trade in a demo account first to see if works out and then if it does, place the trade in a funded account?

That's headspace bending, too. Meaningless.

Is their trade only worth a few pips rather than dozens of pips?

That's even worse. Fluff.

[Valkryder]

Originally Posted by cas

Because they [95% of Forex traders] can't admit that they [95% of Forex traders] are wrong and the market is always right.

Saying the 'market is always right' is a little like saying 'the weather is always right.' It's up to the individual trader to observe the conditions of the market before jumping in. If it's cold outside, wear layers. No trader has the power to influence the market anymore than we can change the weather. We can however, through risk management, and yes, behavior modification, create personal environmental controls that keep us alive and comfortable.

V

[xtraction]

Originally Posted by Valkryder

Saying the 'market is always right' is a little like saying 'the weather is always right.' It's up to the individual trader to observe the conditions of the market before jumping in. If it's cold outside, wear layers. No trader has the power to influence the market anymore than we can change the weather. We can however, through risk management, and yes, behavior modification, create personal environmental controls that keep us alive and comfortable.

V

Very well put.

[forexpeters]

yesmuch nie comment, good post

[cas]

Originally Posted by Valkryder

Saying the 'market is always right' is a little like saying 'the weather is always right.' It's up to the individual trader to observe the conditions of the market before jumping in.

What did you post somewhere else...? Another 2 years until you are ready...? Looks more like 10 to me...minimum...perhaps ...never.