Right on :35:
Trading without loss I think impossible in forex, trend market very dynamic and sometime unpredictable, loss also as part in trading I think but as trader need also manage these risk and always make sharp trading skill analysis
Itâs been proven - to a certain degree, and thatâs as close as anyone of us will get to a real and honest answer. As linked by [I]rhodytrader[/I], have a look.
I would think thatâs probably right, for most people, most of the time. Thatâs in [B]huge contrast[/B] to reading accredited textbooks, though.
What goes into forex âblogs and articlesâ mostly goes there for promotional/marketing purposes, and thatâs exactly what you need to avoid, because itâs usually been published with no quality control, no editorial approval, no peer review, and for reasons more to do with promoting other peopleâs businesses than with helping you.
This is why youâre generally far, far safer and better off reading long-established, accredited, mainstream, orthodox textbooks (to which very few of the above problems generally apply!) instead. Bear in mind that youâre trying to be one of a small minority, who ever achieve what youâre trying to do, so you really canât afford to stack the deck even further against yourself in a field in which overall success-rates are so low.
A rather widespread misunderstanding.
It sounds so superficially attractive, doesnât it, to express the view that practical experience is needed to master a practical technique? Who could possibly argue with that?
The reality is that itâs a sentiment which leads [I]huge[/I] numbers of people astray.
Yes, itâs needed, too - but [B]later[/B].
One of the important and very significant differences between an aspiring trader with 3 yearsâ good experience and another with 3 monthsâ poor experience repeated twelve times over is typically that the latter believed what youâve just said, above, and tried to put it into practice without [B][U]first[/U][/B] having mastered the essentials of the counterintuitive subjects of probability and statistics that all successful traders need to come to terms with not only to become successful but also [I][U]to benefit from their learning experience[/U][/I].
For this reason, what youâre saying above (and elsewhere) is actually misguided.
It is not a myth but actually a reality. But it is due to the fact that most of the traders aimlessly in order to just earn profits. The first and foremost reason that most of the traders donât succeed is that they lack persistence and patience. Instead of this one should treat trading as a business and trade as dedicately as they do business to earn living. Even after suffering loss keep the spirit to go on.
For those with an interest, Iâve posted some additional research here. That post actually looks at quit rates.
Measuring the number of losers is pretty hard as forex is worldwide business and large number of people are attached with this business from all over the world, most of them are failing due to lack of knowledge, experience and skills and I think 70-80% are loosing and rest of the people are earning reasonable amount.
I think thatâs about accurate. Accurate statistic. Because a large portion of traders who lose their money, get disappointed when losing their money and without trying to figure out why leave with nothing.
people need experience and skill not to get loss in FX, go to the library and borrow some books. 99% of anything you read online will be biased towards getting you to buy some forex product or service, such as creating an account on a trading platform.
The easiest and the most effective way for gaining knowledge on Forex is reading many Forex tutorials and trading on demo account. Reading will help you to get the basic knowledge on Forex, and trying on Demo accounts will help you to practice your knowledge. Nowadays there are thousands of tutorials, and many brokers who offer trading on demo accounts.
May be 95% lose because they morons!
Id say most lose because they have no system that is reliable . it takes a long time to develop and think through.
Its about concept and how fast it takes you to come to the conceptual change. The market is a puzzle . it can be adapted to.
Indicators donât adapt. System need to adapt based on market movement and you have to adjust to that movement.
I donât believe this statistic, but itâs true maximum retail Forex traders are loser! On the other hand, professional Forex traders who are making huge amount of money here they are silent! Day by day the popularity of Forex business has been increasing very rapidly in all over the world, because of itâs earning possibilities!
90 % is on the low side, unless you are talking about people who sign up for a few days and then leave. Itâs well over 99 % in the long run. Most people who claim to win on these forums are lying. Look at the systems they talk about; itâs mainly âtechnical analysisâ, which is just as effective as astrology.
If you complain that it doesnât work, forum posters will say you just need to study more. Study what? It doesnât matter how much you study astrology, it doesnât make the predictions any better. Itâs the same with forex.
Yes⌠From this forum someone did try to sell some systems⌠I say it lagâŚback test is forever perfect, Iâm not interested in back test⌠I want now right now the moving price now what going to happen next⌠He say need to study⌠Lol⌠I just show him 1 photo a naked chart⌠I say if u can tell mi the system will tell mi what going to happen nx the price b up or down which all trader also want to kn I buy itâŚafter tat no more reply
Mostly traders in particularly the newcomers fail due to discipline.
Discipline for risk management. but mainly traders fail as they donât have the right education and have a million indicators about price action itself. One aspect/one context of a trade. Thatâs the scam. Stochs ,macd,fibs,gann, momentum , are all about price action meaning price going up or down. Think about it properly they tell you nothing of worth.
But even hardcore discipline people with risk management skills only can make some money in Forex. But with bad educating people give up as its all too hard. (and it is)
There are actually 2 problems. First of all, it is about people worrying too much about these percentages. 2nd, it is short cut that are preferred; hence, it is obvious that losses will be common! So, these are things that lead to all the trouble, if we clear our mind and work with discipline, it might not make us successful straight away, but eventually we will be in healthy position, but too tough to explain all this to newbies.
Trading is not fun for me because i must say that we have to become serious if we have to earn something, because in business you have to be a professional businessman so if you want to become a professional trader you must have to be serious about the trading so i can not do it for the fun. i just accept it as a profession so i have to be professonal. What you think?
Absolutely, everyone wants to make quick money and for that they prefer short-cuts. But forex is not at all a get rich quick business. Uniformity and discipline is must. Proper risk management techniques and learning about working of the market is essential. Along with high probability of making money, loses can also be there but with continuity and right approach one can aim ahead and become successful trader.
Why would you want to know if 90% are losers ?
Donât be discouraged if 95% are losers and only 5% are winners. In those 5% there could be thousands if not millions of people. Everyone who goes to university and earns an IT degree canât start a successful start up and be in the top 1%. Life is unfair. Same with trading what makes you think everyone who âtriesâ will be successful you to try harder. But a lot of variables will depend on you.
We must try to find a broker which has normal trading conditions and i think loosing is just a probability so is winning.