Jump to content

Welcome to the new Traders Laboratory! Please bear with us as we finish the migration over the next few days. If you find any issues, want to leave feedback, get in touch with us, or offer suggestions please post to the Support forum here.

  • Welcome Guests

    Welcome. You are currently viewing the forum as a guest which does not give you access to all the great features at Traders Laboratory such as interacting with members, access to all forums, downloading attachments, and eligibility to win free giveaways. Registration is fast, simple and absolutely free. Create a FREE Traders Laboratory account here.

edgararakelyan

Why Don't More People Learn to Trade?

Recommended Posts

The money to be made in trading is phenomenal. With enough practice and enough money you can become a profitable millionaire working at home. I wonder why more don't learn and practice trading instead of going down the path of education.

Share this post


Link to post
Share on other sites

Because it's difficult and takes a lot of commitment, and because (retail) traders have to take responsibility for their own learning process and most people are far too used to having someone else control this for them (usually an employer).

 

BlueHorseshoe

Share this post


Link to post
Share on other sites

Hi ,

 

Trading is extremely competitive .You have to devote a lot of time to learning and practice . Further you can also lose some money until you get your strategies and money management right . Trading on demo is vastly different from trading live . You have to trade live in order to get things right , to learn not to get carried away by your instincts ,emotions . Learning to trade according to plan is the most difficult part , markets are dynamics ,your plans do go haywire often. I think becoming a successful and consistent trader is one of the most difficult tasks in the world .

 

It is said that you have to devote 10,000 hours to trading and practice and learning before you can become a successful trader . Many do not have that kind of patience.

 

Ninad.

Share this post


Link to post
Share on other sites

because the money to be lost in trading is also phenomenal.

you had better have an education to fall back on

you need enough capital to learn to trade sucessfully enough

most people are simply either not capable or dont want to persist or are even simply not honest enough for trading.

Share this post


Link to post
Share on other sites

Trading involves a lot of difficulties that people have inherent problems with.

 

1. Uncertainty. People don't like uncertainty. Trader's are always risking money under varying conditions of uncertainty.

 

2. Significant capital required. You can run stats as many ways as you want to run them but there is still a rather significant amount of capital required to trade. Most people don't have this level of capital. If you do 100% return and want to make the average 55k per year income then that means you'll need a 55k account. Very few people have this sort of money and many can't even entertain it... Compare that to an education which could very possible land one a job making 55k+.

 

3. Big returns are only seen on the long time horizon regardless of whether one is "short term trader" or "long term trader". Even if you make 400% on 20k then you've made 80k -- about what an average professional makes and spends per year. In order to ever get ahead, you're going to need to do big returns over several years. Though surprisingly, much less then many dream of making.

 

4. Easier To Obtain Capital For Education. It is relatively easier to get money to get an education then to start a trading business. As most students don't have any money and can't get a job, there is no real risk in default either.

 

5. Working Provides Faster and More Money. Up to a certain level, just going to work will produce one the fastest money possible. A student with debt and no money may take a job out of college for 40k-90k. They may have 1k in savings to their name. That's a 40x-90x return the first year with no capital risk.

 

---

Curtis

Home - OrderFlowDashPro

 

 

The money to be made in trading is phenomenal. With enough practice and enough money you can become a profitable millionaire working at home. I wonder why more don't learn and practice trading instead of going down the path of education.

Share this post


Link to post
Share on other sites
The money to be made in trading is phenomenal. With enough practice and enough money you can become a profitable millionaire working at home. I wonder why more don't learn and practice trading instead of going down the path of education.

 

Well looking at the stats you can see how many failures there are in Forex. It is hard to think that only 5% are successful and others lose money. If we look closer the reason behind is that many just trade for fun and think that they are gambling. Forex is well more complicated to be considered as a game. This is why many loses in this market!

Share this post


Link to post
Share on other sites

hi

 

1.it is simply most unstructured business and way of earning.

2.The traders who are earning money they do not want to help other one because they learnt it paying or loosing money.

 

many more ...

 

 

thx

CS

Share this post


Link to post
Share on other sites

Trading is hard because it is the ultimate case of a competitive market. If there was an easy way to trade and be profitable, everyone would start doing that, and prices would move accordingly so that's no longer the case.

Share this post


Link to post
Share on other sites
Posted (edited)

crazyCza and crazyZdo always love a fresh new thread ... from 2013 :) 

 

78% losers, 19% survivors, 3% thrivers - the cusps ...

Generally speaking, most people who begin to “learn” to trade quickly experience that losses and mistakes seem to have a nasty tendency to be disproportionately way more costly than wins and being right are beneficial. There are so many other endeavors where that does not seem to be the case... so they move on.  Few persist in their “learning”  to pass the cusp where they can turn that (accurate for some systems, inaccurate for others) enigmatic impression and their performance to neutral / surviving ... and then even fewer persist ‘again’ even more assiduously to  turn wins and being right to being disproportionately more profitable than the losses and mistakes are costly... 

Furthermore, most people don’t believe or see the necessity to ”learn” just as much about themselves as they do about objective trading methods, etc.  Most never realize that doing a ‘dual major’ in Self and Methods is required to get a good trading education and "learn" to trade. ... and, many who do realize the need still flunk out of one of the majors and never “learn” to trade.  Only a few persist in and complete both ‘majors’ ...

Edited by zdo

Share this post


Link to post
Share on other sites

Great advice. I would also try to try different broker platforms, because comparing conditions you understand what matters for you. More information about which trading conditions are possible - more ideas how to construct some strategy that will have an edge over market. 

Share this post


Link to post
Share on other sites

Since it's troublesome and takes a great deal of responsibility, and on the grounds that (retail) brokers need to assume liability for their own learning cycle and the vast majority are dreadfully used to having another person control this for them

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.


  • Topics

  • Posts

    • Date : 23rd September 2021. Market Update – September 23 – FOMC talk November Taper.Market News   USD (USDIndex 93.52) rallies following FOMC – Taper possible from November, first rate rises now brought forward into 2022, Evergrande due to pay local bondholders today, shares rise in HK. Yields flattened as 5yr up 30 yr down – (10yr closed higher at 1.336%) trade at 1.329% now. Equities rallied over 1%, sentiment rises but Evergrande worries persist (HSBC, UBS & Blackrock – exposed to a total of $875m). USA500 +41 (+0.95%) at 4395. USA500.F flat at 4396. Dow +1.00%, Nasdaq +1.02%. Nikkei (closed) & China higher. VIX tumbles to 21.62. USOil continues to recover broke $72.00 – inventories in line (-3.5m barrels). GS talk of $85+ if there is a cold winter Gold dropped to $1760 but has recovered to $1764. Overnight – FED Highlights – We now have 9 forecasts of a 2022 rate hike instead of 7, with 9 instead of 11 now expecting no change. From the dots, it’s clear that the large majority of policymakers want to start raising rates in late-2022 & get back to near-normal by 2024. GDP, saw trimmings for the Fed’s 2021 central tendency to 5.8%-6.0% from 6.8%-7.3%, 2021 headline and core PCE chain price central tendency boosts to 4.0%-4.3% and 3.6%-3.8% respectively. 2021 jobless rate central tendency boosts to 4.6%-4.8%. POWELL – “substantial further progress” has been met for inflation, but there is more uncertainty surrounding the maximum employment goal. Powell noted a split among the FOMC whether employment has improved satisfactorily. He thinks it has “all but been met”. Tapering “could end around the middle of next year.”AUD PMI’s stronger than expected but remain very weak (Services only 44.9).European Open – The December 10-year Bund future is down 21 ticks, the 30-year future meanwhile has moved higher with Treasury futures. DAX & FTSE 100 futures are up 0.5% with risk appetite strengthen post-Fed and amid easing concern on Evergrande, at least for now. In FX markets both EUR and pound strengthened against a steady to lower dollar. Investors are likely to remain cautious ahead of the local central bank announcements from BoE, SNB and Norges Bank today. EURUSD at 1.1715 & Cable at 1.3653. USDJPY recovered to 109.86. BoE Preview: Expected to keep policy settings on hold, but minutes will be watched carefully especially with 2 new MPC members – Catherine Mann (Centrist) & Huw Pill (Hawkish). The central bank already signaled a more hawkish outlook on rates at the previous meeting, which to a certain extent pre-empted the jump in inflation and tightness in labour markets that were the key message of last week’s economic reports. However, retail sales numbers were pretty dismal & consumers are facing higher taxes as well as a phased out wage support, with the phasing out of the furlough scheme a key factor for the BoE’s policy decision going forward. On top of this the country is facing an energy crisis that is having unexpected knock on effects also for the food sector. The central scenario at the moment is for the labour market to remain tight & wage growth strong, as companies are increasingly forced to up wage offers to attract staff. Against that background, the first rate hike could come in H1 2022, depending on virus developments & how the energy market gets through the winter.Today – SNB, Norges Bank (rate hike likley), BoE, CBRT & SARB rate decisions, Eurozone, UK & US flash PMIs, US Weekly Claims, Canadian Retail Sales, ECB’s Elderson.Biggest Mover @ (06:30 GMT) CADJPY (+0.38%) 3 days in row! Breaks two day high t 86.00 and rallied to 86.32 now. Faster MA’s aligned higher, MACD signal line and histogram broke 0 line yesterday, RSI 72.96 OB but still rising. H1 ATR 0.150, Daily ATR 0.695.Always trade with strict risk management. Your capital is the single most important aspect of your trading business. Please note that times displayed based on local time zone and are from time of writing this report.Click HERE to access the full HotForex Economic calendar.Want to learn to trade and analyse the markets? Join our webinars and get analysis and trading ideas combined with better understanding on how markets work. Click HERE to register for FREE!Click HERE to READ more Market news. Stuart Cowell Head Market Analyst HotForex Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in FX and CFDs products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.
    • I'm gonna pull a crazyCzarina and reply to a long dead post ... One sure thing about trading forums - The great questions never get an answer.  Ask  even the greatest posters a great question... silence, no nothin’, not even crickets.          First a few comments about Elliott Wave Wave Theory is a ‘science’ of socionomics.  Socionomics is about how societal ideas ‘ideally’ or typically unfold -  wave 1 is the early adapters, wave 3 is broad collective acceptance, wave 5 is continuing valuation narratives but with narrowing collective assessment of actual value... with all kinds of ‘ideal’ sub patterns... Socionomics starts with a simple observation: For lots of issues, how people FEEL influences how they will BEHAVE.  (Equally true = How people BEHAVE influences how they will FEEL... but that’s for another topic) Anyways... Elliott Wave theory is an attempt to apply socionomics  to trading   - and  yes analyst75 “theory” is the key word.  Imo, it’s a jump too far.   First, price is not a good metric for socionomics.... especially across decades when currencies are being viciously  'corrupted'.   And practically, socionomics does not transfer over to trading nearly to the degree Ellioticians would like.   It simply does not deliver enough of those ‘ideal’ sub patterns because  crowds of traders’ behaviors and ‘feelings’ about pricing are not sufficient equivalents of broader collective behaviors / socionomic waves... ESPECIALLY as time frames shorten... (ie waves may appear to ‘fractal’ down ... but they really don’t.)   If you’re going to use EW to trade, probably the most important point you can acknowledge is that 5 wave patterns are EXCEPTIONS to normal trading crowd behavior ie  the best thing a 5 wave pattern indicates is that corrective patterns will soon resume.  I’ve described it differently in other posts*  ... but basically, at any given point in time it is possible to reasonably project that ANY freakin wave ‘count’ / pattern will enfold.   It is just as reasonable to project that a nice 5 wave completion will go on to a nice 7 or 11 or 17 or whatever wave count as it is to project that the market will now have a ‘trend’ change.  At the end of any nice 3 wave corrective pattern, either projecting a huge 5 wave pattern unfolding in the other direction or projecting a long flat congestive pattern or another 3 wave correction pattern... or... all are equally reasonable.  Or, a pretty wave 1, 2, and 3 doesn’t not mean a pretty wave 5 will unfold.  Ie it’s just as reasonable to count it over and project that the next sequence will be corrective or a 5 wave impulsive move in the opposite direction. etc etc       ... to get back to the unanswered question - So what do you propose as an alternate? Long ago I read Hurst.  In a short section of his book he mentioned it.  It didn’t sink in.  Then one day it really hit me.  There is no Elliott wave sequence or any other ‘technical’ price pattern that cannot be better explained via ‘summation of cycles’ ...   * fun example can be seen by searching for 'trading chaos by bill williams' thread on t2w ... TL is so special we don't even allow links to other trading forums? ... other snarky EW comments at http://www.traderslaboratory.com/forums/topic/7555-do-you-use-the-elliott-wave-to-trade/page/2/?tab=comments#comment-146022      
    • Date : 22nd September 2021. Market Update – September 22 – No Turnaround Tuesday.  Trading Leveraged Products is risky Market News   USD (USDIndex 93.25) holds gains, Evergrande will pay some local debt on Thursday, but major doubts remain. Strong Housing data helped USD. AUD recovers lifting NZD, JPY slips post BOJ. CAD holds gains. $3.5bln infra. bill goes to Senate, Biden doubles climate crisis investment. Yields moved two ticks higher (10yr closed at 1.32%) trade at 1.33% now. Equities remain weak, Evergrande worries persist. (USA500 -3 (-0.08%) at 4354. USA500.F flat at 4358. No Tuesday turnaround. ; Dow -0.15%, Nasdaq +0.22%. Nikkei & China down VIX cools to 23.42. USOil continues to recover broke $71.00 earlier – inventories to come later today. Gold also recovers to $1780 but remains shy of key resistance at $1788. Overnight – BOJ – no change – if anything a more Dovish outlook ” economy picking up as a trend, although it remained in a severe state due to the impact of the pandemic.” No sign of tapering any time soon. AUD back to 0.7250, AUDJPY up to 79.50. Evergrande will only pay local bond holders tomorrow but that was enough to ease concerns, at least for now. PBOC injected more funds into the local credit market. FT report there are enough empty apartments (new & unsold) in China to house 90 million people (30 million Chinese families) …-FT European Open – December 10-yr Bund future down -22 ticks, underperforming versus Treasury futures. In FX markets both EUR & GBP corrected against USD, leaving EURUSD at 1.1718 & Cable at 1.3647. USDJPY recovered to 109.56 from 109.10 pre-BOJ. Risks from China & realization global supply chains will take longer to recover from Covid disruptions (BBG report chip shortage getting worse, lead time now 21 weeks, Honda in Japan working at 40% of capacity for 2 mths) have seen investors scaling back tapering concerns & we expect Fed to stick with a cautious wait and see stance for now, which should help keep stock markets underpinned. Today – US Existing Home Sales, FOMC rate decision & Chair Powell press conference, more new supply from UK & Germany. Biggest Mover @ (06:30 GMT) CADJPY (+0.65%) The oscillations continue capped at 86.00 and back to 85.00 yesterday trades at 85.75 now. Faster MA’s aligned higher, MACD signal line and histogram below 0 line but rallying. RSI 61 and rising. H1 ATR 0.150, Daily ATR 0.695. Always trade with strict risk management. Your capital is the single most important aspect of your trading business. Please note that times displayed based on local time zone and are from time of writing this report. Click HERE to access the full HotForex Economic calendar. Want to learn to trade and analyse the markets? Join our webinars and get analysis and trading ideas combined with better understanding on how markets work. Click HERE to register for FREE! Click HERE to READ more Market news. Stuart Cowell Head Market Analyst HotForex Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in FX and CFDs products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.
    • Yes, they are all nice, but again it all also depends on your trading skills to make some good money online.
    • Yes, we have to be a lot more vigilant and ensure that the brokers whom we are trading with, are legit and regulated ones.
×
×
  • Create New...

Important Information

By using this site, you agree to our Terms of Use.