The numbers are disastrous. Virtually all Forex retail traders lose money. Most of those that persist lose big.
There is no improvement over time, no matter how many years they keep trying, and no matter how much help they get. There is no hope.
How bad are really the stats? And why are they so bad?
Let's look at the evidence.
Citi 2014 presentation of the...
We have all heard anecdotal evidence.
Every one throws random numbers around "be in the 80%", "be in the 91%", 99%, 90%, 75%, all sorts of numbers, usually the failure rate is pretty high and success is low. Day trading, or longer term. Real estate same story. And for long term investing you will hear "90% don't beat the market".
I am looking at speculating here...
All the middle age dudes that were worried that they don't have the fresh quick mind of younger players can rest assured, they are not disadvantaged, it is the other way around.
Everyone has heard 1000 times that what made a trader/investor was being wise, or another way to say it is rational, or not emotional.
It's not having quick reflexes or being young or even...
I recently published an idea on the (mostly innate) qualities required to be a good speculator.
Next I will write an idea on what one has TO DO to accomplish his goal of being profitable. Not general qualities. What actually must be done.
That thing we never hear about, trading educators never ever tell anyone this, all they do is mention "the psychology" and...
Here is my personal list
1- Adversity
This is the biggest one. 1 & 2 are the biggest one.
You know what we call those that have low adversity?
Starts with an L. Ends with osers.
You should not flinch when you get unlucky, when things are working against you.
You should love this! Makes it harder! Great! You should welcome difficulties.
Every year millions of...
