HELLO FOLKS
Wanna start discussion why 90% of traders loosing their money
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I think, most of the traders lose their money because of using wrong strategy.
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Agree + discipline
Iâm going to throw a spanner in the works and say none of the above.
They are all symptoms.
The reason why so many fail is because of biology - more to the point the chemicals that go around our bodies that distort rational thinking.
Trading takes so long to master as you you need a literal re wiring on the brain and chemical responses.
All else are just symptoms of chemically induced manic behaviour.
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Which is the difference between the Conscious and Unconscious Mind. The CM is programmed to relate to actual past events that are transmitted as a reality to the UM - which, until changed or replaced will always hinder anyone from being successful.
Change can be brought about by e.g. hypnotherapy, but only if the individual actually wants to become a successful trader. Otherwise, the psychological negative/punishing mindset will prevent that.
For example, I know of a trader who regards losses as a punishment that he deserves, or another whose family has installed a belief that he wonât make it as a trader, and getting a job would be far betterâŚ
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Iâm going to relate a little anecdote from a very close family member.
This person absolutely despises anyone who has (financial) success (although this person is probably not aware of it)
Constant negative comments on how successful people are lucky, or how somehow they are less than wholesome people.
Meanwhile this person really struggles to make ends meet - is always working on some business project - but they never pan out.
On the surface level this person wants to âget richâ, but un consciously doesnât want to be like ârichâ people.
The upshot is the subconscious will always gives us what we want - which in this personâs case is financial hardships.
Itâs a shame - and I can see the situation clearly - but trying to mention it - itâs really not worth the bother
In order to be successful in any venture we first need to work on our inner self. For those who forfeit the inner they may get riches but pay a dear price - or cannot hold wealth for long.
Iâve even seen this in my own trading, in my earlier years I had my own issues to deal which kept me in a boom or bust cycle.
It took a total inner transformation for me to become better trader - and much better person to boot.
As they say âif you donât go within you go withoutâ
And yes it will be great Steve to meet one of my blog readers, and fellow babypippers.
Chiang Mai Rimping Promenada it is - I believe they have reopened Immigration there now? - should make the place a little busier - lol
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Is there anything online you can suggest. I know for a fact I am a Awesome trader ! The challenge I feel could be helped with what is being discussed here.
TabiusLee
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@Jckbt 10% or less are successful because they are disciplined and know what they are doing. Most traders donât need a reason to open a trade. If you ask why did you open this trade, he would say I thought/hoped price would go that direction.
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Youâre right @steve369 to highlight the unconscious strategies our own mind can use against our trading success. Mark Douglas had wise words to say on this also and should be required reading for struggling traders.
By the way, I went to a hypnotist once.
It had no effect.
It had no effect.
It had no effect.
It had no effect.
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Most of the traders lose their money because of choosing wrong brokers. So, be careful when you are going to choose a broker for you.
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Is the close family member the one who despises those with financial success? Or is your family member the one who knows a person who despises those with financial success? (I ask because wouldnât that mean they despise you? Ha!)
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Well, as an unsuccessful trader I say what a load of hogwash. Lack of discipline yes, the rest is the blame game. Failure to take responsibility for ones own actions has become commonplace in this modern world. Combine that with the underline work ethic, lack of education and experience means good money gets wasted after bad.
Blind leading the blind here
The family member is the one who despises anyone who has success.
And while there are definitely crooks, and shady characters who have made it (in the eyes of the world) it never pays to be a hater.
Most successful people have put in the deep work it takes.
And as it is said:
It takes ten years to become an overnight success.
Sour grapes get you no where in life.
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Thatâs a tough person to be around. Sounds like the embodiment of crab mentality IMO. 
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The âeducatorsâ which, at then end off the day, make the money selling the dream love to sell these concepts that there are a wealth of reasons why you âhavenâtâ succeeded. Its not my fault you havenât made money using the technics I have provided. However the technics they provide are for stock/commodity analysis. Stocks prices rise and fall. Currencies donât. They fluctuate. And just like those educators, the good folks at BP make their money âsellingâ these lies. And they suck the rest of us in.
We donât âsucceedâ because we donât work hard enough. We come to sites like this and look for hand outs. We donât educate ourselves. Even BPâs sells the lie that we are trading in the underlying market. And we donât have the experience. Its like dealing with 15yoâs in the workplace. We simple have no idea.
And it appears after a 2+year absent nothing has changed except those selling the dream have become more prolific and those that actually have something worth saying have progressively left. Take the OP for instance, it takes not but a 2sec google search to realize what his motivation for being on BPâs is
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Thatâs a fair point and one I tend to agree with myself - I do believe the whole industry is geared towards preparing the next cannon fodder.
However an out and out loathing for the sector is probably not all that productive to yourself
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Also I do honestly believe you can teach a technical system and most beginners will botch it up
I always say the easy part of trading is the system the hard part is sticking to it
I donât know if you would agree with that assessment ?
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That argument got settled a long time ago by a group of turtles. But again, look at the technique and they asset classes they traded - futures. The âstrategyâ doesnât work for currency speculation but plenty will tell you it will. If you just follow the rules. Didnât work? Thats not my fault, you must not of followed the rules. Its a pretty simple round argument and self for filling prophecy. Folks wanting to speculate on the currency market are far better employing statistic analysis technics over technical analysis designed for stock, bonds, futures or commodities.
It comes down to that word trend. Currency markets donât trend, they fluctuate. Thats why Iâm moving away from currency speculation and more into commodities, indices etc.
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