The question is - why do we expect number of profitable traders to be higher?
Would you be shocked with statement â99% of amateur basketball teams lose their games in NBAâ?
Financial markets are driven by professionals and there is no place for amateur mindset.
Anyone should be able to do it in the same manner as anyone should be able to become a lawyer, doctor, guitarist or run in a marathon. It requires a lot of work and it may be harder for some than for others, but it is possible.
Itâs obvious, that being not in shape and playing basketball for fun once or twice per month is not enough to play in any serious league. We feel that in sports you need work hard to compete with the best and have any results. In forex we (as a general trading community) often forget, that this is also a skill which needs to be honed and one cannot expect professional results with amateur approach.
The foremost reason why traders fail is that they have no strategy or plan. A lot of traders donât want to acknowledge this but the fact is that they have no idea what they are doing. The other reason is trading against the trend
Most of them fail because of lack of commitment to trading. They have misconceptions regarding trading. Many new traders treat it like gaming and you can become rich instantly. In reality, it is a rigorous market that requires excellent trading skills to survive.
Could any of us sit at the table with the 7 best Texas Holdem players in the world and not be the first to lose all their chips, Trading is no different, you are competing with the best in the world, and no âhow to tradeâ book is going to change that
You competing against yourself ,that bollocks if you lose at trading, you have only your self to blame,itâs your own demons what stop you from success .Your anology,itâs like crap you read in some book ,contrived bull
They lose money and donât succeed because they donât commit properly and do the right amount of research. With forex, you canât just jump into it blindly. You have to invest time in educating yourself on forex trading and then indulge in practicing in a demo account to consolidate your learnings. Only then you can expect to have a smooth trading journey.
I wonât focus on any percentage but yes most of the traders fail because they have not learned or taught themselves how to trade. So, a lack of forex knowledge can turn out to be dangerous while trading. It can also result in blowing up your entire account.
Day Trading requires traders to entirely rely on technical analysis and make trading decisions based on facts and figures. The inability of regulating emotions is the main reason for day tradersâ failure.
Well said. I also added that Risk Reward Ratio is characterized as the effect of a hazard one takes for a specific wanted benefit. At the end of the day, how much cash you will lose to get the ideal increases. Not knowing the legitimate gamble reward is the justification for why most traders will quite often lose cash in the securities exchange as a beginner. And the Important thing is they canât find a trusted broker. I give you a trusted broker which is AssetsFX. Assetsfx is an outstanding Foreign exchange broker. This broker is trustworthy, and they have 60+ Currency options.
Due to a lack of knowledge and professionalism. Trading is lifelong learning. When you keep a distance from upgrading and upskilling, this tendency trails you behind other hard-working traders.
