Why do many traders lose? - page 5
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Don't have trading system...that is all!
Don't trade don't lose but won't be rich.
That's a gambler philosophy, not a trader one.
My country has a proverb that "Don't trade don't be rich". It means you should buy and sell some thing so as to become a rich person. You will never be rich if you work for somebody to get salary. Of course, when you trade, you must accept to lose.
We will never become rich by trading. That's a dream. You can earn money by trading. If you are already rich you can become richer.
There is only 1 way to become rich from nothing, it's by crushing people and/or law on your way.
(Of course, it can depends of what we mean by "rich").
You will never be rich if you work for somebody to get salary. Of course, when you trade, you must accept to lose.
the notion about working for a salary is a very important one.
when you have an eight to five job, the possibilities are very limited.
in essence, it is possible to accurately calculate your entire life earnings, and the reason for this is that you can only work so many hours a day, there are only 24 and you need to eat, sleep and etc.
when you put this in perspective with let's say, a gas station owner, he sells by the Gallon, or Liter , not by the Hour, and although there is a limit to how much fuel his underground tanks can hold,
the amount he can sell each day isn't really limited to time, of course you can say it takes time to fill each tank with fuel, etc but i hope you get the point.
similar, a guy who has a scrap yard, he is buying and selling scrap metal, by the Kilo, and again there isn't really a ceiling as to what he can sell daily, he can certainly sell 100 Tons of metal a day and again is not really limited to time.
so we see that time is our most precious commodity, it can never be bought or bought back, there are limitations on the amount you can sell each day, which does not make it the best choice when it comes to gaining excessive amounts of capital in various time spans.
(Of course, it can depends of what we mean by "rich").
this is also a good question we would have to define rich here.
for some people rich is when they have enough to live a good life pay the bills and have things like energy food water a car house and etc.
but if you are talking about rich in the sense of freedom, this can be calculated,
and it has been calculated, the last time i checked the numbers, a capital of 3,3 Million USD is needed in order to live off of interest alone,
this means that you do not touch your capital it stays the same, and you live from the interest it generates.
We will never become rich by trading.
off course, this is person dependent, it differs between people, and their starting capital, i have seen success stories that show that it is certainly possible to become rich, as in the freedom case defined above, but one would have to follow the rules, study until they are able to identify the ways that make this possible, and stick to these for it is easy to fall back to a lower level by making a stupid mistake.
many people find something that works, then discard it to try other things only to find that do not work, still losing all, this is a part of human nature.
so when you do find some Glitter, stick with it.
also there seems to be some, how shall i say this, 'mystery factor' involved, something that lies out of sight changing the possible outcome, what i mean by this is the following:
you can give someone all the info he needs to become rich, or give them the billionaire robot, so to speak, and they still end up failing, doing things failures do, they simply discard the golden goose and continue their way to destruction, until now i never found why this happens, but it is evident and actually happens most of the time.
It's almost as if, and i need to be careful here, they are programmed to lose, and no matter what they do, they will always lose, but the reason why lies beyond my understanding.
Very nice post Marco. I particularly agree with:
you can give someone all the info he needs to become rich, or give them the billionaire robot, so to speak, and they still end up failing, doing things failures do, they simply discard the golden goose and continue their way to destruction, until now i never found why this happens, but it is evident and actually happens most of the time.
I have seen this happen so many times it's not funny. It happened again just recently, I showed someone a very simple system (for free) with very easy to follow rules. Granted it will never make a fortune but it's got solid returns and very low risk and it would at least get him earning a return. All he had to do was stick to the rules. Needless to say, within a week he had totally changed the system and quickly blew up his entire account. He wasn't the first and he won't be the last because:
Marco vd Heijden:
It's almost as if, and i need to be careful here, they are programmed to lose, and no matter what they do, they will always lose, but the reason why lies beyond my understanding.
I think you are very close to the truth here. Programmed to lose. The best explanation I've seen as to why is that deep down, most people really don't believe that they deserve to win. They don't really believe that they deserve that money. They don't really believe that they deserve a comfortable life. It's human nature. And with your subconscious re-enforcing that to you constantly, the universe will deliver to you exactly what you ask of it. Failure.
That's my 2cents anyway ;-)
Becoming Rich is success?? ~ what is that exactly, the amount of money you expect to become rich is relative to how much money you have in the first place it is a percentage of the money you have. This implies a considerable increase in personal wealth so in FX tradng terms would mean huge profits, before we go there lets start our expectations a little lower. I would like to ask the question~ Has anyone here made consistent profits either on demo or real account using a consistent strategy using an EA over a period of time say a year. Honest answers please.
if the answer is No do you think we could all be chasing a dream (of becoming and staying rich in a short time frame ) that cannot be realized as this implies risking as much if not more than you can win. Or should the measure of success be a measured as winning a very small % profit over time that we shouldn't get too excited about and just enjoy fx as a pastime and be grateful and feel successful for the few times when we get it right.
for me there is a genuine misconception about :
Roler100:
the few times when we get it right.
this implies a system that is wrong most of the time.
how can such a system generate stable profits ?
many people seem to believe you can get rich by using such a system, i think it will take a long time if you ever succeed.
the answer is very simple to me, if you are wrong most of the time, you are not using the right system.
It should be clear that these goals can only be reached, when your system is right most of the time.
for me there is a genuine misconception about :
this implies a system that is wrong most of the time.
how can such a system generate stable profits ?
many people seem to believe you can get rich by using such a system, i think it will take a long time if you ever succeed.
the answer is very simple to me, if you are wrong most of the time, you are not using the right system.
It should be clear that these goals can only be reached, when your system is right most of the time.
if you are wrong most of the time, you are not using the right system.
------it is very important
Why many traders or over 90% loose have many facts if you go in study
1 Less Experience and entering in this market without knowing much
2 Making fast growth
4 Less Patience
Against a trader market is big , market can live long in trade but not a trader so what ever your capital volume is market in trillions. So there must need a strategy to live in this business. So far no one strategy which can make consecutive win if happen this then I think 1% win and 99% will see loss only. So every market have a balance. In real 90% peoples thinks everyday is trading day but a experienced trader can figure out where a best place to trade and may be he will do few trades in week or in month.
The best way is to learn holding your capital and then growth.
This my opinion I can not say peoples will agree with me
Thanks