98 % of 4X traders lose money - Why?

[Finn_da_trader]

Hm. I'm one of that 2 percent))) I'm so happy!!!
And why 98% losing? Maybe they are making something wrong?! Had they tested their strategies in demo accounts?

 

[caplas]

Congrats with having success, but the question is will you be able keep the profits you won?

 

[bewayopa]

I agree that experience, wisdom and money management are fundamental but the most important is the discipline

 

[Crazy hedgehog]

Yes, the discipline is most usefull thing 4 profit trading. I think demo trading is usefull for testing of new strategies and for learning for a few time, but your learning must not continue for a long time because you do not appreciate virtual money and you are not afraid of losing them. So it can to "seduce" you. This may also be the reason of losses.

 

[Finn_da_trader]

Congrats with having success, but the question is will you be able keep the profits you won?

Thanx 4 congrats and distrubs. and i don't need to keep ma profit - i'll withdraw it ) for the last year profitable trading is a trend for me. I hope it will continue 4 many years.

Hedgehog, I uzed demo about half-year. Is it a "long time"?

 

[Olsson]

Hm. I used demo account about one year. I still use it to test EAs. And bewayopa, agree with you about discipline.

 

[Crazy hedgehog]

I think every trader must personally set the duration of using demo, I used it for 4 monthes. after this time I noticed that I I started to neglect virtual money. Then I stopped to use demo)

 

[forexdon]

Saying that 98% of forex traders loose their money is like exaggerating. To me about 9% forex traders are making good sum in the market. Reason for loses include; Lack of proper knowledge; also many traders avoid demo account trading, they like to jump into the real market to start making money, they lack discipline, and finally greed.

 

[iMusingKiMi]

98% of trader losing money?
I think firstly because of humanity born to be greedy and always wanted to be right. Ego attitude destroy a lot of trader. Doesn't believe it? Close your eyes, ask yourself, do you really completely read a related book? So proper knowledge of course is one of them. For instance in Price Action trading, a lot of people misunderstood what actually it means. Why this happen? Because they always though they are right and already have a proper knowledge in it. So when they failed, they start to blame broker chasing their stop loss everything. So they start not to put a stop loss, then a severe drawdown attack them, then gotten margin called again. So it goes back to the humanity nature born to be always right, and they didn't realize their own mistake and misunderstanding a proper knowledge. Of course this is just part of it. For someone reading who agree with me, go this link.

Traders and Mistakes

Hope it will helps them to realize their own mistake.

 

[robertrfx]

Saying that 98% of forex traders loose their money is like exaggerating. To me about 9% forex traders are making good sum in the market. Reason for loses include; Lack of proper knowledge; also many traders avoid demo account trading, they like to jump into the real market to start making money, they lack discipline, and finally greed.

I am not so sure about 9% as well. Really hard to find one who is getting results in this market