"Don't let anybody steal your dream"

Trading is often about how to take the appropriate risk without exposing yourself to very human flaws.
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steven1976
Posts: 1744
Joined: Tue Jan 19, 2010 6:28 am

ruthlessimon wrote:
Sat May 13, 2017 5:20 pm
people who fail, are just as important for advice as people who succeed. knowing the fundamental reasons they failed allow you to sidestep their misfortune. the common traits of failed traders is such valuable knowledge. moreover they should be easier to find, & far more likely to be open about their ideas & problems.

traders like switsh & ferru are just as valuable as Peter, dallas etc. id love to have a convo with switsh someday.
If a failed trader told people the markete were manipulated and that the main players sit matching their own money backwards and forwards to hold people in a loosing position and control a market direction,a and speed, no one would believe them. If an experienced trader told people the same then everyone would believe it, so i agree, there is a lot if not more you can take from losing traders, probably more info than a succesful trader would be willing to share. Would also be interested in hearing from Switesh the underlying reason he stopped as he was very keen.
spreadbetting
Posts: 3140
Joined: Sun Jan 31, 2010 8:06 pm

Most failed traders I've seen usually blame others for their failure, I'm not sure what valuable info you can pick up from that. They're normally far too stubborn to believe they're in the wrong and continually repeat simple mistakes in my experience. I've always thought it'd be relatively easy to teach someone with no knowledge or experience of trading to succeed rather than someone with a few years break even or losing experience. I think once you pick up reinforced bad habits they're very hard to break and unfortunately very easy to pick up when starting.
Anna List
Posts: 157
Joined: Wed Mar 01, 2017 11:49 am

There's a lot of wise words on this 'ere thread.

Many moons ago, a friend of mine lost a shed load laying horses. It's a lot of moolah now. Back then, bon dieu.

He was of the opinion that the system worked but he didn't. He says that he lost control and that's why he lost money.

Yes, it seems that he lost control but I wasn't convinced that the system was of the first water.

He told me how it worked. I was convinced that his logic was flawed.

I reversed the system and started testing it.

Reversed, it worked fine.

Went live.

Never looked back.

Anna
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