Think i'm crazy, read on... your probably going to hate me

[qwertox1]

the statistics are 95-98% of traders blow their account and quit in their first 6 months, the other 5-2% more often than not have actually done the exact same thing except they were persistant and determined to reach their goal and accepted their losses treating them as a learning curve which will pay dividents in the near future.

that i believe is the difference between the two

lee

yea 95% but that includes starters and A LOT of noobs and the amount of people engaging in forex is on the rise and some people just dont understand it and they quit

[wrtm_19]

[B]fxgroundworks[/B]

You’re still playing Harmonic[a]…? :rolleyes:

Lol, I play both:D

[R_Carter]

Hello,

[B]1. Honesty [/B]- For some reason, traders have egos. I believe this has something to do with the population manly being men. Men have egos, lets admit it. Its part of being honest. I sucked at trading. I lost so much money that I felt like a total idiot. I stilll make stupid trades, and I pay for them, but thankfully they don’t happen nearly as often and i’ve been able to control myself. I have noticed that most traders have an ego. They can’t admit they are wrong, or they have no clue about something. So when talking to other people, how cautious about what they are saying are you? Professionals get together and talk about their stupid mistakes, not their winners. Losers talk about their winners… thats the 98%…

I hope most of you disagree with my comments, it will confirm my thoughts on the 98%… so thank you.

chrish

Read the entire thread… but this bit made my day!

Leaving aside the obvious doubious nature of your comment re PC you are of course correct. Most pro traders are men. I don’t know why this should be?

On a trading floor its essential to have a healthy ego. Most pro traders are in fact Alpha males. You need strong belief in yourself when trading a multi $M account or you could never execute a buy/ sell trade.

Pro traders look at both sides of the coin… what they did right and wrong and keep a detailed log of each and every trade. It helps to make notes on as much detail as possible about the circumstances of the trade for future reference when a similar set up comes around again. Also if it turns out to be a ‘pants’ trade you can at least go cap in hand to the boss and justify your thought process for the losing trade.