My 2 cents. Trading must not be hard. Learning HOW to trade definitely is. I think it’s just like swimming (I learned to swim as an adult, so I say this from a very personal perspective): when you know how to swim, swimming is not that hard. But when you are learning - and if you learn as an adult it’s even harder - this is the really hard thing. When you finally are able to, then you do your thing happily and peacefully. In swimming and in trading as well.
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Learning a brand new concept and adapting to a new lifestyle is difficult also there is success and reward at the end. I have stared learning trading within 3 months time frame. I am still at the basics (fundamentals). Learning about terminology and technical analysis. I understand that this is a learning and psychology curve. I am an overthinker and over analyze things. So in order for me to be successful in this business of trading. I have to change my mindset.
Look about it differently, it’s not hard.
They promote that? Is that what they say in the school here?
If you give yourself a 3:1 reward-to-risk ratio , you have a significantly greater chance of ending up profitable in the long run
In fact it’s impossible to be profitable in the “long run” with a 3:1 reward:risk.
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Sounds like it makes sense on paper though.
Reasoning with Efficient Market Hypothesis… it is theoretically impossible to win 50% of 3:1 trades. No one ever has.
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i totally agree
the only independent/retail traders i’ve ever seen or heard of claiming to be profitable with a 3:1 reward:risk ratio are people self-promoting and selling “services” to traders
there are all sorts of reasons why this is never going to work, and i don’t believe a word they say
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Yep! Charlatan’s favorite marketing strategy is the high R-multiple trades
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Everything that is worthy in life is quite hard to achieve, but the satisfaction and returns from it is much more that form the things that you get for free.
So stop asking too many philosophical questions and just do it if you are passionate about trading.
There are multiple answers to this question. But I personally think that people are always believing the odd myths about trading or approaching it like a sporting bet, without patience. Yes the two spaces rely on patterns and watching statistics to make data-drive decisions but as money is always a touchy topic, most people tend to get emotional when placing trades, especially after a loss.
Trading for the majority of retail traders is so hard because of lack of true understanding of how the market works and what drives the market.
The market only changes price when buyers or sellers get aggressive and clear the current bid or ask pending orders.
A retail trading platform with candlestick chart doesn’t reveal such information to you.
And the major players in the market are institutional traders trading with huge volumes of money. These traders focus on what is happening in the news and the economy of each country.
If you want to be profitable you need to understand how to trade in the same direction as the big institutions.
What do you mean that private retail forex traders should do, in practical terms?
It is a dinner table conversation, for me. I have a couple of friends, former colleagues who now both trade for a living, and I sometimes cook for them. They both have about this size R.
But never in forums, as you say.
This is how most trading forums come across, to me, really. It actually makes me wonder how many are really trading profitably …
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they don’t design a market for you to win,you know it by how they set the rules
nothing woth having comes easy. I think its best to choose if you are going to stick to it or become a carpenter.