Why do so many find trading difficult?

[chocabloc]

They fail because they don't really want to succeed

 

[tokyojoe]

blimey, what a cheery thread !!

maybe they fail because they don't want advice, only corroboration

round & round goes the wheel !

 

[purple_turtle]

well, only been at it for a few weeks and I am failing because I did not have an idea about risk management as well as not having or sticking to a strategy. Have sorted out the first, now it's getting, and then sticking too, a half decent strategy.

 

[mlawson71]

well, only been at it for a few weeks and I am failing because I did not have an idea about risk management as well as not having or sticking to a strategy. Have sorted out the first, now it's getting, and then sticking too, a half decent strategy.

The good news is that as a newbie you have all the time in the world to learn. People who still make the same mistakes 2-3 years down the line have a big problem.

 

[forker]

Define mistake...

 

[dianajs]

One other thing that occurred to me - people find trading difficult simply because they are not sufficiently prepared for it. Many newbies go into forex trading thinking they'd make quick profits with little effort and reality often isn't further from this.

 

[sun11]

Doesn't have enough psychological strength.
Not enough strength to draw a line between gambler self & trader self.
That's why they find it difficult.

 

[mlawson71]

Define mistake...

There are many mistakes one can do while trading, obviously. They might not take into account obvious resistance and support levels, they might use an inappropriately large (for their account) lot size, they might miss the fact that is a high impact event that day, etc.etc.

 

[forker]

There are many mistakes one can do while trading, obviously. They might not take into account obvious resistance and support levels, they might use an inappropriately large (for their account) lot size, they might miss the fact that is a high impact event that day, etc.etc.

Those are mistakes typically made by novice traders. To put it differently, you could get all the basics right and still not make money over time. It takes more than mastering basics to make money

 

[dianajs]

Maybe they don't have a good system?

Ha, that's about the gist of it. Why don't they have a good system is a wholly different matter.