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Chapter 5, Part VII. Some revelations…

Discussion in 'Complete Trading Education- Forex Military School' started by Administrator, Apr 19, 2011.

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  1. Administrator

    Administrator Just Administrator :-)

    Sep 24, 2007
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    Part VII. Some revelations… [​IMG]
    Commander in Pips: We are getting closer and closer to the trading process directly, so, I think that now is a suitable moment to shed some light on a number of very important points. They are not linked with trading mechanically, but psychologically and are extremely important. If you will be able to accept them, this will help you much on trading's dangerous and thorny way.

    Pipruit: Don’t talk with riddles, Commander, let’s start.​

    Commander in Pips: So, here they are:

    1. There is no absolutely perfect trader, who never loses money on the market. Everybody loses money, but in different ways – good traders make losing trades, but these losses are repaid manyfold with profitable trades. This allows them to generate net profits. Most others generate net loss due to some lack in their trading process – insufficient planning, knowledge, poor strategy, money management and discipline.

    2. The share of people, who sooner or later lose all their money is about 92-95%. So, as you can see the successful traders are only about 5-8%. And this is absolutely logical, since the market has a fixed amount of money. If somebody stably makes profit – someone should loss the equal amount. The value of the profits of some Forex participants is huge – just imagine JP Morgan Chase for example. That’s why the amount of unsuccessful traders should be bigger, because there should be enough of money to feed these big sharks. Our major task is to join the sharks and not become their food.

    3. If it is psychologically hard to you to lose money in trades or you too ambitious, then it can take a lot of time to accommodate to loss trades and treat them as a part of the trade work and experience.
    #1 Administrator, Apr 19, 2011
    Lasted edited by : Feb 7, 2016
    RahmatH, Paul Destro, goryO and 4 others like this.
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