Love a ballsy trader but are you sure 25%? That’s one helluva large bet size. Two losing trades at 1R and half your capital is gone
That’s far too Nick Leeson like for me!
That is what I use and I require 4 trades to blow my account. Using such risk must be after years of exerience. You will use such for specific set ups. As stated before, such set up comes up once in a while.
You must be pretty good at determining which trades are winners and which are not
The most I’ll risk on any trade idea is 5% and that’s rare
Let me rephrase - you must be good at knowing which are high probability plays
Trading can definitely be a tough game, I’ve lost 2 accounts previously and then took a year out and been going steady with money I’m not emotionally connected to which is important
i think one of the problem s when starting is over enthusiasm regarding “instant profits” ie day trading, closing the trade at the end of usa session.With experience you begin to look at the bigger picture and bigger timeframes
Oxygencangreath,
View the “Beginners” video from No Nonsense Forex. Follow his instructions and become better educated especially about Trading Psychology, Money Management, and Trade Entries. Remember, adhere to his instructions step by step. Do not deviate. Your account will be glad you did!
Happy Trading,
Castlemouse
why dont you say something about your own experience, more interesting than the same repeated cliches no wonder the majority lose
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“97% of all traders fail” is the most commonly used trading related statistic around the internet. But no research paper exists that proves this number right. Research even suggests that the actual figure is much, much higher. Statistics have shown that 80% of all day traders quit within the first two years. Consequently, there are quite a few reasons as to why, highlighting the factor of the lack of trading knowledge. Most new traders do not want to spend the time or the energy learning a few basic elements such as technical analysis and fundamental analysis for example. The first, (technical analysis) can help an individual find the best spots to trade while the second, (fundamental analysis) is vital for understanding the movement of the market. Another major reason comes down to money. To elaborate, the vast majority of traders do not have enough money to put in their initial investment, thus playing with the market leverage which constitutes to a huge risk. No one should ever trade in the market if they are not financially stable or at least have a decent investment to begin with… Hope this answers your question. Happy trading!
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Your observation is right. Many traders lose their capital for a lake of trading knowledge and some time for overconfidence. But nowadays here in my country, I see many traders are bouncing back and making some good profit. Just need to proper steps to learn it and maintain your risk management on line.
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yes in the long run 97% lose money due to several reasons:
-for some its a lack of studies concerning probabilities
-for some its a lack of discipline concerning psychology and how to do
-for some its because their charts are not good quality
People come into trading thinking “yes gonna make millions easily from it” , “its easy you just short/long when you think its ok”. they dont have in mind that trading is a business/job and you need to do several months/years of study before jumping in the pool. If you dont learn to swim and they put you in a pool , theres 100% chance youll have a problem. same apply for trading : no studies , no profit
i’ll personnally wont have confidence if im sick and have to go to a medic who dont made studies before saying he is medic
I guarantee you if you are a hobby trader either you gonna be eat by bigger market participants either you gonna win peanuts (little)
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Nobody should let the 97% figure (or whatever it is quoted as) put them off trading.
For example, we could see a headline that says that 97% of restaurants have gone broke. If it was a bricks-and-mortar business restaurants we would then immediately ask, “Gone broke since when?”.
Disagree with that. competition is good , it motivates people to be the best. you know the field is hard , its competitive therefore you gonna put the efforts into it to make your dreams come true. Only the best w
if not you return immediatly to your employee job and you didnt lost time neither money. better to warn than cure.
and most of time newbie have a lot of unreal expectations, its better to make them come back to reality by showing this fact.
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Yes I agree with this because not all day traders have the patience needed in a day trade. I once tried it and it didn’t work for me
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You can make money in forex even if you are not a bank or do not have a hedge fund, but the probability, I would say, is below 1%.
Basically because 100% of people who trade go through the same full wrong theory counter… The methods promoted by all the brokers are fallacious, and in forums this problem is repeated like an echo chamber.
Only 1% stay long enough to realize it and slowly draw conclusions and personal theories so that they get results.
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This debate about the percentage of people losing money in Forex goes on, but the statistics are never really examined and questioned. For example, do these percentages represent the number of traders losing money, or the number of accounts losing money?
I have personally lost count of the number of accounts I have blown along the way, before I became a profitable trader. Are these losing accounts included in the percentage? If so, you would easily assume that I am another statistic, but that would be misleading and incorrect.
If you open a live account and blow it, then open another and blow it, and then another, and another, and then, after many blown accounts you hit upon a formula that works and you grow this account so that it absorbs all previous losses and moves into the positive zone, how would these percentage statistics reflect upon you? If you went through 9 blown accounts and one positive account, then the statistics would say that you lost 90% of the time.
In my opinion, you should ignore these figures. They are meaningless!
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I haven’t been on the market for that long, but it seems to me that it is. Large banks and corporations make money from the fact that it is a large organization with many employees who generate income. A trader doesn’t work like that. We depend on ourselves.
Poor education and a lack of emotional discipline equals 97%
I don’t get it - you mean those 97% suffer from poor education and lack of emotional discipline?
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traders always lose money, because the market is not stable and investing in such a market is always a risk
@Xarlynningel Losing money in day trading is easy and only a small percentage of day traders are able to predictably and reliably earn positive returns. What I still don’t understand is what makes them take an active part in day trading despite incurring heavy losses?