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  1. #1
    Specialist Member runneroption's Avatar

    Hot Why such a tiny percentage of the newbie traders succeed in trading BO? !!!

    The most often reasons leading traders to fail are very few. I will discuss here only few of them.

    Firstly they will fail if they are too impatient to make big profits.

    Second way to fail hard is by following a gambling mentality and using too much leverage or martingale in their trading.

    Third big reason why most of the new traders fail I think is because they don’t have knowledge how to design and test new strategies. They often find the first promising strategy they have from somewhere and start to trade it, even without knowing is there any edge at all in this strategy.

    What do you think guys, are there any other big reasons leading for early failure in the newbie trading career. I would like to define all these reasons and to help everyone of us to avoid them.

  2. #2
    Master Member SeasaltMcFish's Avatar
    Crooked brokers and account managers are surely reasons

  3. #3
    Veteran Member hchandra's Avatar
    Using analogies
    My though, they expect to drive the bicycle like a pro in initial stage of learning,
    while they forget, learning to bike will need lot of failure before they can at least bike.
    After one or two times fall from bike they gave up.

    Second, they drive without brakes. BO is good platform, newbie love "60 second chart" or short term. its a rundown hill because its really fast to make or lost money, they love it but forget to put on brakes, which..... when the speed get really fast, they try to stop using the bike using leg brakes, but the bike unstoppable and..... Bump they go. Some will stop from it but some will try this adrenaline rush, some will turn expert, but most might not make it.

    third, most of them bought wrong bicycle to drive, a baby driving pro bicycle would be like sitting duck on a bicycle that run down the hill. Overleveraging and buying more than they can handle. Using pro bicycle is a big leverage, but a baby should start from baby bicycle.

    Fourth, They learn they cannot bike, therefore they find someone older who can bike and ask them to bike for them using tandem bike and they pay the fee, sometime it might work, but most of the time it don't because that person in front paddling for lot of people who don't want to paddle for themselves and maybe that person cannot bike.

    Hope this can entertain everyone here lol.

  4. #4
    Junior Member
    The comparison with learning how to ride a bike is really great, hchandra!

    Trading is not much different than that Initially it looks we will never be able to learn how to trade, but if we are persistent we will realize at the end that after many attempt and many not successful experiments finally we will succeed and will be surprised how easy it is to ride a bike or to trade binary options. The only prerequisite is to not give up too early and to be open for help from everyone who is one step ahead of you.

  5. #5
    Junior Member
    For me the reason that so tiny percentage of the newbie traders succeeded to make the transition from beginners to experts is their lack of succession and lack of discipline to learn learn learn! I was really fascinated by the markets at the beginning of my trading career, but than I moved didn’t have the patience to follow a strategy, than I lost some money and decided to stop trading. After few months I started again, but with totally different strategy. I traded very carefully and learned from my mistakes step by step. That way I succeeded to transform my self from a total newbie to more experienced trader and most important profitable trader. I would like to tell to all the newbie here to not give up after initial mistakes, but to continue to research and look at that topic as a serious venture. If you are consistent the results will came for sure!

  6. #6
    Active Member supertrader's Avatar
    The reason so many newbie traders fail is only one. They have unrealistic expectations about what they will have to do and what they will be able to achieve. Most of them expect astronomical returns in very short period of time. Most of them do not expect that they will need at least few months to learn to adapt to the markets before they will be able to make any steady returns. Markets are always changing. Some traders fail because they think they found the holly grail, but after few weeks of trading everything change dramatically but they don’t realize their system no longer work and they lose their money. The good traders have to always adapt to the changing environment and to be able to profit from these situations in the market.

  7. #7
    Specialist Member marvel's Avatar
    I think there is a reason to have such a tiny percentage of traders succeeded in binary options trading. One of the main reasons is that trading need many hours of education before starting invest real money. Most of the newbie traders do not want to or don’t think it is necessary to invest that much time in their education, but it is really needed!

  8. #8
    Legendry Member Okane's Avatar
    Everyone claims they want to make lots of money.
    However there are few who are actually willing to do what it takes!

    Ask yourselves why there are so many scammers promising fast and easy money?
    -Because that's what people fall for, that's what they want and that's what they'll fall for... over and over again.
    Yet they say "I'll do anything to earn lots of money"...But so long as it's fast and easy.

    I remember, on Babypis forum, another great community for traders, there was a thread
    about a working strategy someone put a lot of time putting together.
    But people complained about it, saying it was tooooo much reading. (only 4 pages, 2 of them just pictures actually!)
    Yet the same people claimed they wanted to become millionaires.
    They just weren't motivated enough to read 2 pages and look at 2 pictures.

  9. #9
    Active Member
    Unrealistic expectations, poor training and practice and lack of discipline send many traders to the grave.

  10. #10
    Active Member jephry88's Avatar
    Absolutely agree Okane! People who don’t want to read 4 page strategy, who never make backtest in their lives and never tried to understand the money management principles like Kelly criterion won’t survive in the market even for a short period of time, if they survive they will become “market donors” and will never become millionaires, probably only on their dreams

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