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Why 99% of traders lose money

  • #341
  • May 6, 2020 2:29am May 6, 2020 2:29am
According to me the reasons can be of two types:-

Personal Factors-
Inadequate market knowledge.
Low or No trading experience.
Use of high leverage on large trading volumes.
Poor trading strategies.
Normal Factors-
Big News in the market.
Change is Fiscal policy or monetary policy by the government.
Any natural disaster.
Changes in the rate of interest by the National bank. Etc.
  • #342
  • May 6, 2020 3:32am May 6, 2020 3:32am
Quoting Mingary
{quote} Is this a test ? (; I am surprised you have to ask. A professional in the field worth his/her salt would know that already. How can anyone not know one of the fundamental principles and hope to make money in retail forex ?
Whenever you make an unsubstantiated statement based on your own failure - a statistical sample of one - a professional might have the right to ask that question.
Gone to a better place
  • #343
  • Edited 4:16am May 6, 2020 3:50am | Edited 4:16am
Quoting smikester
{quote} Whenever you make an unsubstantiated statement based on your own failure - a statistical sample of one - a professional might have the right to ask that question.
I will be happy to substantiate .. but notwithanstanding that you are hiding behind another ad hominen attack, are you really saying that the majority wins at retail forex ?
"a statistical sample of one" just wondering why the so called "professional" in this field has to lie.
No doubt a clear sign you are a "shovel peddler" of some sort or another...

Anyhow, look up a phenomenon called "starling murmuration" to begin with. Then we can try to have an intelligent conversation, it's up to you.

Attached Image
  • #344
  • May 6, 2020 4:23am May 6, 2020 4:23am
traders right now losing from trading , because market moves at random most of the time. i never trade as like before because of COVID 19 issue .
  • #345
  • May 6, 2020 4:36am May 6, 2020 4:36am
Quoting Mingary
{quote} I will be happy to substantiate .. but notwithanstanding that you are hiding behind another ad hominen attack, are you really saying that the majority wins at retail forex ? "a statistical sample of one" just wondering why the so called "professional" in this field has to lie. No doubt a clear sign you are a "shovel peddler" of some sort or another... Anyhow, look up a phenomenon called "starling murmuration" to begin with. Then we can try to have an intelligent conversation, it's up to you. {image}
I'm not hiding behind an ad homine attack. I am directly criticising you, personally. I did not say the majority wins. You made that up.

Mingary, I will continue to pull you up every time you make wild all encompassing statements based on your own failure.
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  • #346
  • May 6, 2020 4:38am May 6, 2020 4:38am
Quoting Mingary
{quote} "starling murmuration" to begin with. Then we can try to have an intelligent conversation, it's up to you. {image}
Why don't you look up prig?
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  • #347
  • May 6, 2020 5:20am May 6, 2020 5:20am
Quoting smikester
{quote} I'm not hiding behind an ad homine attack. I am directly criticising you, personally. I did not say the majority wins. You made that up. Mingary, I will continue to pull you up every time you make wild all encompassing statements based on your own failure.
A noble cause, but at what cost...
Congratulations ScalaFX for coming out of the closet!
  • #348
  • May 6, 2020 5:25am May 6, 2020 5:25am
Quoting nubcake
{quote} A noble cause, but at what cost...
A noble cause? I'm not so sure. I fear for Mingary's wellbeing and I do not like to be unkind, but he has no place here.
Gone to a better place
  • #349
  • May 6, 2020 5:49am May 6, 2020 5:49am
Quoting smikester
{quote} Why don't you look up prig?
... and insults again..

No intelligence here after all. No surprise really.. I tried. I certainly don't see anything substancial from you..

OK so back at you perhaps you should look up phony or hypocrite?
I mean, Is it getting this difficult to sign up new "customers" for a peanut account ?

You are going to make me think you are afraid I am going to eat your lunch (:
Anyhow. It was fun while it lasted, or should we continue ? it's up to you..

A statement can be true or false, regardless of the source. That's what truth is.
No doubt a new notion for you.
  • #350
  • May 6, 2020 6:04am May 6, 2020 6:04am
Quoting MarkFxAnde
traders right now losing from trading , because market moves at random most of the time. i never trade as like before because of COVID 19 issue .
Partly true. Random movement occurs when the banks/institutions who move the price are not buying or selling. At these times it's obviously vital to stay out because price action is going to be ranging or even whipsawing. At these times they will be accumulating/distributing (adding to liquidity) funds by mopping up as many stops as they can. These are the times when small traders are being hit hardest.

On different days and even during different sessions they attack different currencies. It really depends on what their price models are telling them each day. On one day it may be advantageous to sell GBP and next day more advantageous to buy GBP! That is why as I said above, it is vital to only trade when the boys are actively moving the price on certain currency pairs. Ascertain which pairs and then find a suitable place to join in WITH them. Sounds easy but of course even during a strong trend they will try to induce the unexperienced and the unwary to open trades against the move. This is mainly when and how retail traders are being knocked out.

It's really helpful to use a currency strength indi. Looking at the one below, it's obvious what is strong and weak. And I guarantee you that some people are buying EUR or GBP right now!!
Attached Image (click to enlarge)
Click to Enlarge Name: AUDUSD.rMonthly.png Size: 35 KB
  • #351
  • May 6, 2020 6:14am May 6, 2020 6:14am
Quoting Mingary
{quote} ... and insults again.. No intelligence here after all. No surprise really.. I tried. I certainly don't see anything substancial from you.. OK so back at you perhaps you should look up phony or hypocrite? I mean, Is it getting this difficult to sign up new "customers" for a peanut account ? You are going to make me think you are afraid I am going to eat your lunch (: Anyhow. It was fun while it lasted, or should we continue ? it's up to you.. A statement can be true or false, regardless of the source. That's what truth is. No doubt a new...

This does not require a reply.
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  • #352
  • May 6, 2020 6:26am May 6, 2020 6:26am
Quoting smikester
{quote} This does not require a reply.
Yes, I know. You cannot reply.
  • #353
  • May 6, 2020 6:28am May 6, 2020 6:28am
Quoting Mingary
{quote} Yes, I know. You cannot reply.
Here's the phony trail, for anyone who may be interested:

Quoting jonnypants
{quote} Not sure I'm reading this right......since the beginning of March you're getting 600+ pips per day but only $100 per day? Must be tough getting decent internet connection from Tuvalu?

Thanks for that jonnypants.
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  • #354
  • Edited May 7, 2020 1:59am May 6, 2020 12:51pm | Edited May 7, 2020 1:59am
Quoting smikester
{quote} Here's the phony trail, for anyone who may be interested: {quote} Thanks for that jonnypants.
2014 was the year I realized what an utterly dismall game this is for the players and I started to have a serious look at the territory and the characters who are making a home in the land of retail forex.

Someone else thought of it as well and created this documentary..

https://vimeo.com/185934989

If you watch this video, I am sure you will be able to provide some insights ...
Others are welcome to comment as well...
Which character are you ?
Watching this documentary is mandatory if you want to answer the question "Why 99% of traders lose money"
  • #355
  • May 7, 2020 1:31am May 7, 2020 1:31am
I think that's because most of us get into forex trading without education, we jump in, do few weeks demo and go live.
  • #356
  • May 7, 2020 2:03am May 7, 2020 2:03am
Quoting Mingary
{quote} 2014 was the year I realized what an utterly dismall game this is for the players and I started to have a serious look at the territory and the characters who are making a home in the land of retail forex. Someone else thought of it as well and created this documentary.. https://vimeo.com/185934989 If you watch this video, I am sure you will be able to provide some insights ... Others are welcome to comment as well... Which character are you ? Watching this documentary is mandatory if you want to answer the question "Why 99% of...
So flattered that you looked up a video for me to watch. I don't think I'll have time to watch it though. Have you thought of trying out a demo account with a reputable broker? (make sure you run it for a few hundred trades to get the idea). After that you could maybe risk $500 on a nano account? I think you sound intelligent enough.
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  • #357
  • May 7, 2020 2:50am May 7, 2020 2:50am
Quoting Prototype
I think that's because most of us get into forex trading without education, we jump in, do few weeks demo and go live.
Too true. But most have the sense not to ruin their lives over it?
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  • #358
  • May 7, 2020 3:30am May 7, 2020 3:30am
Quoting smikester
I don't think I'll have time to watch it though.
I had an hour to waste. It's British, so imagine with a flair of Bri'ish accent and flair, orright guvnah.

A clueless mother ( / part time nurse) demo trading (gambling) into over a million for something like a year, breeding kittens to sell to bootstrap her first few thousand live account. At the end goes live, fat fingers a "trade", and as expected is bleeding her account bit by bit.

A bunch of old fuddy duddies in some geriatric think-tank hobby group investing and day trading. Confident about their slow-as-turtle-shit trades that seem to be working in their favor. At the end they hit a loss of a few thousand which it seems was implied to be a non-trivial amount. If you farted in their face their brains might register it some time next week.

Some guy who got gimped in a bike accident or some shit. Previously a successful antiques dealer. "Trading" for 7 fucking years and going nowhere. Real business doesn't give him an erection anymore, and desperately wants to be a "real trader" so continues to waste his days... oh, and of course, is a tech only trader. Muppet.

2 young black guys working together. 1 does the trading (and drives a 40k AMG), the other... who the fuck knows, but apparently is the "business partner" of the 2 (seems to do fuck all). Posts shit on Insta for attention / marketing, seems to be trading OPM, gets an influx of something like 100k from a successful friend. Whole thing smells rags to riches, but so far so good.

Some guy who seems to be killing it. Training to get down to 3% body fat for a triathlon. Drives a sweet ride. If/when he hits 1k for the day he's done. At the end reaches his bf goal and has photographers taking shots for some magazine or whatever. Receives offer from somewhere to trade something like a small 50mil. Is nonchalant about the whole thing. He's the type of guy who'd have a threesome with a guy and a girl while trading, cum twice in each, yet claim to be asexual. Laser focused on the mission, whatever it is that engages his interest.

The whole thing feels reasonably representative of the trading clique, here and elsewhere.
Congratulations ScalaFX for coming out of the closet!
  • #359
  • May 7, 2020 3:42am May 7, 2020 3:42am
Quoting smikester
{quote} Too true. But most have the sense not to ruin their lives over it?
Yes that is true as it is always said , trade with what you can afford to lose.
  • #360
  • May 7, 2020 3:57am May 7, 2020 3:57am
Quoting nubcake
{quote} I had an hour to waste. It's British, so imagine with a flair of Bri'ish accent and flair, orright guvnah. A clueless mother ( / part time nurse) demo trading (gambling) into over a million for something like a year, breeding kittens to sell to bootstrap her first few thousand live account. At the end goes live, fat fingers a "trade", and as expected is bleeding her account bit by bit. A bunch of old fuddy duddies in some geriatric think-tank hobby group investing and day trading. Confident about their slow-as-turtle-shit trades that seem...
Thanks for the potted synopsis! You are quite a funny writer.
Gone to a better place
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