Why 99% of traders lose money

99% of course it’s a exaggerate statistic, according to me 65-75% are loser from this market place above all the newcomers. and 2-5% traders are profitable and they are completely depend on this trading place.

is there an option to work with some guide on this fourm to get a sense of how to start my trading?

There are lots of guides available online and on YouTube. Let me get you started on the same things I started on.

1. Forex Hero App
2. cTrader Tutorial
3. BabyPips

You can go through in any order you like. The Forex Hero app is very good as a fast intro. The cTrader tutorials are EXCELLENT. The accent on the guy is heavy but it's good info. The platform is different from MT4/5 but the principles are what matter. The course at BabyPips is good (and fun) for getting into Forex. From there you can then do research into things like price action and Elliott Wave Theory and such. The advice I'd give (as a newbie trader myself) would be this:

1. Research your brokers and pick one.
2. Open a demo account.
3. Develop a trading system of your own.
4. Test on the demo.
5. Test on a CENT ACCOUNT (if the broker supports it).
6. STICK TO YOUR SYSTEM!
7. Do improvements on your system on a demo/cent account first.

Those would be it. A trading system can be based on a number of things - price action - indicators (such as moving averages) - or even a paid indicator system. While I know for sure that a lot of persons may give me flack for mentioning a paid indicator system, but it's something that a lot of persons go through at some point or another. Some people stick with it - some people abandon it - some people us it to supplement their own developed system.

There is no single way to trade - no magic system that works - if this was the case then everyone would buy it and be winning. Some amount of learning and losses has to take place. At the end of it all you will know whether or not you're cut out for it. My other advice would be this.

 

1. There's FUNDAMENTAL and TECHNICAL analysis. Learn both.
2. FUNDAMENTALS basically involves news and economic events.
3. TECHNICALS basically involves price action/trends/zones.
4. Find the middle ground of using both.

That's it. If you have questions then post back here - the community is really helpful and you will get answers. You may get so many different views that it will overwhelm you, but try to pick between it and develop a system OF YOUR OWN. The system used by each person differs and works for their own style. You may find someone with similar styles as yourself, but experiment and discover. Preferably on a demo account.

What’s the usefulness of this particular app?

For someone that knows absolutely nothing about Forex it's a good start. You get the basics and can move forward from there. You could actually just start trading after going through the app and the PDF that they have.

https://forexhero.eu

It will eventually send you a pop-up which will give you what you see in the attached screenshot. That's a short free book (60 pages) that - combined with the app - gives you just about all of the basics.

According to me , the failing percentage already had decrease than before , right now traders are more advance and there are lots of opportunities to improve trading ability. So, I don’t believe about 99%.

these are mostly new traders or those who haven't learnt how to cope with their ambitions who loose their money. People who treat this matter seriously never loose. The worst thing that may happen to them is breaking even.

I think the reason of losing could be the incorrect following of the news. Actually the news announces the events with delay. For example, before few weeks when was announced that the DAX went down, it was too late to open short position

Actually losing during news is a different part of trading , it’s most complicated issue . mostly loser during news due to lack of real fundamental knowledge.

Specific profit goals is the only and only thing that will fuck your mentality up and burn your account as soon as possible.
3 Rules:
1. Capital preservation
2. Small gains
3. Big gains.

It's 1 - 2 - 3 not 3 - 2 - 1.

Exactly. They're definitely not around to share their trading plan :-)

True words man, true words.

All of you can take the winners side. All you have to do is to read the books listed here.

why do traders lose? its very simple, and mathematical.

imagine you start with 100usd, and work your way up to 200usd. great. but to keep the %increase constant, you also increase your leverage. so now you are trading with 2x the leverage you were trading at 100usd.

now imagine you double your account 2,3, 5, or even 10 times, amazing! you went from 100$ to 10000$ in a couple years, profits unheard of in any financial sector.

the problem is, if your leverage is always proportional to your account balance, it only takes one mistake to lose everything. you can double your account 10 times, but if you keep increasing leverage, you can lose all that effort with a single screw up.

so basically, its a matter of time before you go bankrupt, and leverage is mostly to blame.

Forex trading can be lucrative if you have adequate working capital and experience. Forex trading is often presented as an income opportunity.

May I know, what did you mean by specific profit goal with the details?

Some discord I have Mate, you have said Fx trading can be lucrative if you have minimum capital and experience , there is no way to ignore the importance of real trading experience but capital is not a big deal at all in there, in 2013 I have invested $4000 with poor experience but unfortunately lost balance due to over trading. So, there is no chance to bring profit in Fx by any large capital. Thank you

Hi Amando.
What you have shared is amazing and very insightful. Thank you for creating this topic. I would like to share some ideas/experiences here.

1. The main components of locking in gains and minimizing loss is SL and PT points for trades, should avoid too much risk per trade.
2. Skills needed to be leaned such as Research, Analytical Skill, Focus, Control, Record keeping. Time and energy will pay off in better trades.
3. People need to avoid setting shortest objective plan, which they used to invest heavily. It will make things a lot riskier and lose regrettably.

Rob Booker's no nonsense path to getting real... May not be up for long...

Traders lose money in the Forex market due to the lack of knowledge, trading without any strategy, lack of experience and of course lack of patience. High spreads and hefty commission also erodes the profit of traders.