I refer 95% lie to sentence: “95% of traders fail”. Although this are calculations made by brokers, based on their account history. I suppose those are accounts that were blown out by newbie traders.
Anyway I have to admit that it is true that 95% of account ends up empty within less then three months. But hose who were trading them … were they really traders? I think not, in my opinion they were gold diggers or just uninformed fools.
It happens often that after forex success story in newspaper or magazine, people without knowing anything about forex think: “Hey this is easy way to make money! If that guy in the newspaper made millions, I can make at least few thousands I am not stupid”. I don’t have to tell you how wrong this guy is. He takes loan, and starts trading, within 3 months he has got no money but a big loan to pay.
I believe this are the people who goes by 95% rule. But it doesn’t have to be that way. You can make money, but you have to understand it is not going to happen overnight. Probably not even within two years. But it is possible.
What it takes to become trader? In my opinion the only difference between successful and unsuccessful trader is … experience. All you need to do is trade and get some experience.
But there is something more important. As you may lack successes within this two years it is crucial to believe that you can really do it, that it is possible to achieve success. If you have problem with that then, do yourself a favor and buy Anthony Robbins “Awaken the giant within” great book on positive mindset.
28 comments:
Hi, I like your blog very much
Are you mild,If I want to add link in my blog? (http://www.shortshot-marketiva.blogspot.com)
Please answer in my blog or your blog .
Thanks
Hi Karlipzo,
thanks for your kind words.
And as for your question: you are free to add as many links to my blog as you wish.
Best Regards
Hi grzesiel,
Thanks for your generousness.
I was added your link in my my blog.
Your blog is very interesting.
Thanks
The first thing to remember is that 95 percent of all Forex traders don't really get successful, they lose their money. In order to end up with the remaining 5 percent of those traders, you have to have the right education and mindset, but the best news is anyone can learn the skills needed to win because Forex trading strategies work best.
Forex Trader
I like your post, too bad it seems like this blog has run its course already. Check out my forex blog if you like.
I am also interested in the accuracy of the whole 95% of traders are losers statement.
The statement overall is flawed, there is no time bracket specified. Also what do you have to do to qualify to be classed as a 'forex loser'
I am looking into this further.
Graham from DnB Forex Price Action
There are several reasons which are responsible behind failure of traders in stock market. Some of them can be ignoring market updates, panicking, trading against the trend, taking more risk then one's own capability.
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I don't think 95% is a lie cause trading is a psychological thing and most of the people are weak on psychology. I have seen many traders doing profit for first few days and losing all the profits and capital at once with some bad trades. Its not like that they dont know the strategy well but their mindset is not enough to be consistent in trading profits. I learned a lot from the educational stuffs of lxmarkets.com and they are very supportive. It really helped me to learn well and make profit from the market. lxmarkets.com is the best broker so far i have tried in my trading career.
Forex is such a tough work to do for a new comers. They should work hard to gain Forex market well. We see a tendency of earning more within a short time following no risk management policy. That is their first mistake. They also have greed aswell as emotions while trading. This two bad practices are very much harmful for a trader.
Much thankfulness to you for this charming writhing. I would expect more articles from you. I do love Options trading. I slant toward lxmarkets as one of the best options broker and i trade with them and never at whatever point found any issues with the trading and in like way withdrawal. I recognize that its dumbfounding broker. I am light to trade with such a standard broker with brisk payout.
Forex is the largest money market where a good amount of trader are adding day by day. Here 95% of the traders get failure for having small or scarcity of knowledge. Trade12 where I am trading having low spread in most of their pairs including gold. As a scalper it’s a good facility to me. It has also flexible high leverage like 1:400, initial deposit, no set up fees, no dealing desk and reqoutes available. So this is a good broker to me because it also having a high security level.
trading is not easy task to do if you have lack of knowledge of trading. You can’t survive long if you are not intending to learn during your every trades. It is daunting task until you get proper knowledge of foreign exchange trading. So, TryMarekts organized best learning platform for every want to be trader. Who are eager to learn trading to income good amount of money and to become successful.
95% forex trader get failure from Forex market for their own mistakes. They have not enough knowledge, scarcity of practice, emotion, greed, fear and over trading. I have proper support from my broker. Like I am with Trade12 it’s a long time. It having high leverage like 1:400, low spread, quick execution, no set up fees, no dealing desk and no reqoutes problems available here. They having a high security level with using various reputed bank accounts.
Much gratefulness to you for this boggling writhing. I would expect more articles from you. I do love Options trading. I slant toward lxmarkets as one of the best options broker and i trade with them and never at whatever point found any issues with the trading and in like way withdrawal. I see that its stunning broker. I am light to trade with such a standard broker with engaging payout.
Lack of knowledge is the main fact of failing from Forex market. One should study hard to gain something from Forex market. Then he should have a good strategy of trading. Trade12 having low spread, high leverage, no set up fees, no reqoutes, slippage and dealing desk are available here. This facilities made my trading easy and comfortable.
As an experienced trader, I have always struggled, admittedly, to adapt and cope with the dilemma offered by real time information. Many websites claimed that they could offer trading platforms to provide data but I found that information they provided was never updated on time and that had a crucial impact on my success ratio while trading. I found the scene a little different when I approached FXB Trading.
Totally agree with your points, that there is a big difference between trader and professional trader. You need to think about many things like financial management, make a plan/strategy according to style and test it on a demo account to make sure that your efforts are going in the right direction or not. People just see the fancy life style and think they can achieve that is Why Forex traders fail ., first get the basic knowledge about the forex market and then make goals to achieve
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