Forex Trading Losers are 96 percent
Many of you may not be aware that 96 percent of traders end up losing money fairly consistently. Nevertheless optimism about the future prevails, which keeps driving budding traders and transactions continue. To boost their optimism they may have some gains intermittently but on an overall average the total would be a negative score.
With the knowledge and skills provided by the Master you would migrate away from this 96 percent and join the successful 4 percent.
Some of the reasons for their failure is presented below.
1. Lack of Knowledge on Price Action
- They focus on indicators and miss the action of current market participants.
- The future is decided on what is taking place at the present moment not from past event
- Freely available information provides confirmation that amateurs will act upon what little they know
2. ‘Hallucinating’ while Trading
- Amateurs love to forecast and are fascinated with one time Accuracies
- Amateurs miss out on the probabilities that play a great role in market movements.