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  • #141
  • Oct 19, 2017 9:06am Oct 19, 2017 9:06am
Quoting mlawson71
{quote} There are plenty of traders who do trade on a demo account for a while but still lose money. Forex is difficult and it takes a lot of time and effort to master. Some things can only be learned on a live account, but unfortunately, while one learns they also lose money.
Also there are Demo traders who are profitable on a Demo account and start losing money as soon as they hop into a Real account. Trading Demo and Real are two different pair of shoes.

If someone hops into CFD / Forex trading because they need the money and think they can become rich quickly, they most likely will join the 90% crowd.

You have to pay your toll if you want to make money in the Markets, you have to make bad decisions and feel the pain to learn from it. But not only the pain from making losses because you get stopped out over and over again, but also the pain of losing profits because you panicked and closed a good trade too early and then see the train keep going without you.

Your mentality in Trading should be: "I never lose. I either win or learn."
  • #142
  • Oct 20, 2017 7:03am Oct 20, 2017 7:03am
Quoting mw108
{quote} Also there are Demo traders who are profitable on a Demo account and start losing money as soon as they hop into a Real account. Trading Demo and Real are two different pair of shoes. If someone hops into CFD / Forex trading because they need the money and think they can become rich quickly, they most likely will join the 90% crowd. You have to pay your toll if you want to make money in the Markets, you have to make bad decisions and feel the pain to learn from it. But not only the pain from making losses because you get stopped out over...
You really described the situation perfectly and I can relate to many of these mistakes, especially when I was a newbie. Unfortunately, I only learned better after making a number of these painful mistakes.
  • #143
  • Apr 25, 2018 3:06pm Apr 25, 2018 3:06pm
Quoting mlawson71
{quote} You really described the situation perfectly and I can relate to many of these mistakes, especially when I was a newbie. Unfortunately, I only learned better after making a number of these painful mistakes.
Basically, the mistakes are very common here, same experience to me.
  • #144
  • Apr 26, 2018 9:58am Apr 26, 2018 9:58am
Quoting DarrenLehma
{quote} Basically, the mistakes are very common here, same experience to me.
Indeed. I wish you all the best, I hope both of us learn how to avoid making the same mistakes in the future.
  • #145
  • Apr 27, 2018 8:49am Apr 27, 2018 8:49am
Yes you are right. Short term traders lose more money than long term mind. The reason behind this is short term trader are less disciplined. Actually the 90% traders are not disciplined. They ignore the psychological aspects of trading. They run for a 100% proven system which actually doesn't exist.
  • #146
  • Apr 27, 2018 10:53am Apr 27, 2018 10:53am
Quoting JonathanHob
Yes you are right. Short term traders lose more money than long term mind. The reason behind this is short term trader are less disciplined. Actually the 90% traders are not disciplined. They ignore the psychological aspects of trading. They run for a 100% proven system which actually doesn't exist.
Why do you think that short-term traders are less disciplined?
  • #147
  • Apr 27, 2018 9:38pm Apr 27, 2018 9:38pm
Quoting JonathanHob
Yes you are right. Short term traders lose more money than long term mind. The reason behind this is short term trader are less disciplined. Actually the 90% traders are not disciplined. They ignore the psychological aspects of trading. They run for a 100% proven system which actually doesn't exist.
Interesting comment, why are intraday traders less disciplined? You're also saying that profitable intraday trading systems don't exist, surely you're not serious?
Ardua Ad Astra Per
  • #148
  • Apr 28, 2018 9:17am Apr 28, 2018 9:17am
Quoting JonathanHob
Yes you are right. Short term traders lose more money than long term mind. The reason behind this is short term trader are less disciplined. Actually the 90% traders are not disciplined. They ignore the psychological aspects of trading. They run for a 100% proven system which actually doesn't exist.
I am not against on the short-term trading, but I can’t ignore your opinion; especially your last line; really there is nothing like 100% proven trading system here.
  • #149
  • May 1, 2018 1:09pm May 1, 2018 1:09pm
Zikri, every trading strategies have own risks but from all at any kind of short term trading approach contains huge risk particularly scalping, but if you can ensure real money managing plan of course there is a chance to get maximal result.
  • #150
  • May 2, 2018 9:27am May 2, 2018 9:27am
Quoting mlawson71
{quote} Why do you think that short-term traders are less disciplined?
Short term traders follow lower timeframe. In short time frame price moves a lot in both directions. For example, market is moving upward but in my system or strategy their is no good entry set up. In this type of situation the traders who are already not disciplined feel the fear of losing opportunity. They try to find entry. As a result they take impulsive decision. And the same cycle goes on.
  • #151
  • May 2, 2018 2:05pm May 2, 2018 2:05pm
Quoting AlexImam
Zikri, every trading strategies have own risks but from all at any kind of short term trading approach contains huge risk particularly scalping, but if you can ensure real money managing plan of course there is a chance to get maximal result.
Not only scalping , every trading strategies can bring good result if you know how to manage money when trading . success on scalping completely depends on long term trading experience with lowest trading spreads. but right now by and large trading brokers don’t allow scalping in their platform, as a result scalpers always fall a great trouble particularly when choosing a broker.
  • #152
  • May 3, 2018 4:05am May 3, 2018 4:05am
Quoting JonathanHob
{quote} Short term traders follow lower timeframe. In short time frame price moves a lot in both directions. For example, market is moving upward but in my system or strategy their is no good entry set up. In this type of situation the traders who are already not disciplined feel the fear of losing opportunity. They try to find entry. As a result they take impulsive decision. And the same cycle goes on.
Most disciplined trader I know is a scalper, and you need to be for short-term trading. Most "scalpers" in your scenario are really longer-term traders who haven't found their system yet.
  • #153
  • May 3, 2018 7:25am May 3, 2018 7:25am
Quoting JonathanHob
{quote} Short term traders follow lower timeframe. In short time frame price moves a lot in both directions. For example, market is moving upward but in my system or strategy their is no good entry set up. In this type of situation the traders who are already not disciplined feel the fear of losing opportunity. They try to find entry. As a result they take impulsive decision. And the same cycle goes on.
I see, I see.
On the other hand, people trading on short time frames successfully should have very good discipline in order to avoid that mistake, shouldn't they?
  • #154
  • May 5, 2018 4:08am May 5, 2018 4:08am
Quoting JonathanHob
Yes you are right. Short term traders lose more money than long term mind. The reason behind this is short term trader are less disciplined. Actually the 90% traders are not disciplined. They ignore the psychological aspects of trading. They run for a 100% proven system which actually doesn't exist.
Completely agree, at any kinds of short term trading technique always contains huge risk than others long term approaches. As a result the traders above all the newcomers fall a great trouble when try to get profit rapidly by using this. so, I always prefer long term approach if you have enough capital.
  • #155
  • May 19, 2018 6:36am May 19, 2018 6:36am
Quoting mlawson71
{quote} Indeed. I wish you all the best, I hope both of us learn how to avoid making the same mistakes in the future.
Thank you very much mate! Same words to you.
  • #156
  • May 19, 2018 1:31pm May 19, 2018 1:31pm
Mee to thank You for this topic
  • #157
  • May 20, 2018 5:26am May 20, 2018 5:26am
Quoting JonathanHob
Yes you are right. Short term traders lose more money than long term mind. The reason behind this is short term trader are less disciplined. Actually the 90% traders are not disciplined. They ignore the psychological aspects of trading. They run for a 100% proven system which actually doesn't exist.
yes , any short time trading approach contains huge risk and bring ultimately losses , but it can be profitable if there is a real money management.
  • #158
  • May 21, 2018 11:13am May 21, 2018 11:13am
Quoting mlawson71
{quote} I see, I see. On the other hand, people trading on short time frames successfully should have very good discipline in order to avoid that mistake, shouldn't they?
Yes discipline is the key. As I said for newbie with lower time frame, it is difficult to remain disciplined. Lower time frames are always tempting traders as there is high movement. They fall for it. Lack of proper knowledge is also responsible for this behavior.
  • #159
  • May 22, 2018 5:54am May 22, 2018 5:54am
Quoting JonathanHob
{quote} Yes discipline is the key. As I said for newbie with lower time frame, it is difficult to remain disciplined. Lower time frames are always tempting traders as there is high movement. They fall for it. Lack of proper knowledge is also responsible for this behavior.
Knowledge is everything , it’s okay , I admit. But despite of having good trading knowledge that’s not possible at all to lead a comfortable trading life with certainly if you don’t have a reliable support from a credible broker , because a broker always can affects the result of our trading with certainly .
  • #160
  • May 26, 2018 7:22am May 26, 2018 7:22am
managing money is a great skill that can be acquired by passing a long time with great patience.
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